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  • by Ayten Jalilova
  • Nov 04, 2022
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This Coin Overtakes Bitcoin And All Altcoins In October!

 

It's fantastic news that after weeks of decreases and long shifts in cryptocurrencies, it appears to have had a minor impact on all the major ones.

The price of the much-expected Merge gains has been influenced by Ethereum (ETH), the biggest cryptocurrency in the world. ETH, however, was able to record a rally among the coins in the rise in the price that day as it started to rise, recording the best bullish trend in the previous bullish wave.

Ethereum Overtakes Bitcoin

Ethereum Overtakes bitcoin

Santiment claims that Ethereum's price dominance over Bitcoin and other leading crypto assets grew in October. While other cryptocurrencies struggle to stay up, the price of Ethereum has climbed by over 24% over the past 30 days. The price of bitcoin increased by 7% throughout that time.

The number of ETH addresses generated following the merging increased, which led to a significant spike in the price of Ethereum. Around 619 thousand active addresses were present in the Ethereum network on September 15, and the network's growth was estimated at 64,765.

Meanwhile, other popular cryptocurrencies, including XRP, ADA, and Solana, have seen their prices fall by about 5% over the past 30 days. At the time of writing, the price of Ethereum is $1,629 on average. In the past 24 hours, the price of ETH has climbed by an additional 3%. 2% training process with 24 migrations.

How rapidly has this market developed between September and October? It appears that the entire revised November will be influenced by the news and the market's overall direction.

 

Can ETH Sustain This Rally?

Can ETH sustain this rally?

On October 30, network growth did, however, reach 65637 after a significant decline. The number of active wallet addresses on the ETH network exceeds 408,000. Address activity will probably need to pick up steam from here on out if it wants to help Ethereum maintain its strong uptrend, according to Santiment.

On the other hand, according to the crypto monitoring company, the supply of Bitcoin on the stock market dropped to 8.48%, a four-month low. Nearly 16% of the total token supply was held by small and medium-sized addresses with 0.1 to 10 Bitcoins. Calculations indicate that this is an all-time high (ATH).

Expert Opinion on Bitcoin: “Imagine $10,000 Levels”

Expert opinion on bitcoin 

Bitcoin Expert Opinion: "$10,000 Levels An analyst for DreamExpert responded to the $10,000 claims by mentioning Ethereum and Bitcoin (BTC), the two most popular cryptocurrencies.

A well-known cryptocurrency analyst, Jason Pizzino indicated that the long-lasting downward wave that affected the prices of Bitcoin (BTC) and Ethereum (ETH) has ended. He also offered assessments on the purported $10,000 price goal for bitcoin.

Bitcoin Price Analysis

Bitcoin price analysis

It resulted from a discovery that Bitcoin-compatible goods could not be used to benefit from the pricing advantage. The breakout can indicate future Bitcoin price movements. But the price of the most popular cryptocurrency, Bitcoin, keeps falling short of the 100-day simple moving average (SMA). The price of Bitcoin is projected to rise to a level above the 100-day SMA. The Fibonacci Retracement's 0.382 level from the August highs also falls on the 100-day SMA, which might make it a little bit powerful. A significant Fibonacci 0.618 retracement level could be at $22,500 at the same time. The September high is also in this region.

The future of Bitcoin holders in the mentioned region in the last six hours is also at breaking point for those who will be promoted from the financial behemoth, Morgan Stanley. This update might serve as an introduction to the current uptrend above Bitcoin price concerns. Additionally, $25,000 is difficult to beat where the 200-day SMA sits in the coin. After the aforementioned two days, the price of Bitcoin can stay at 10,000 for a few days.

 

What is Expert Advice for Bitcoin?

Expert advice for bitcoin

According to expert analyst Jason Pizzino in a recent YouTube video, their sluggish movement may cause a price that wants to advance the US so that it may add these extra coins to Bitcoin. Experts made the following remarks in their statements:

Speeding is out of training if we can reach the summit of $23,000 in Bitcoin. Of these 10,000 grains can be grown.

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