Bitcoin

<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/fcbfea294b7f49f29358a15310a15379.jpg" /><h3 id="our-experts-analyzed-the-state-of-the-market-and-told-us-what-will-happen-to-the-bitcoin-exchange-rate-in-the-coming-month">Our experts analyzed the state of the market and told us what will happen to the Bitcoin exchange rate in the coming month</h3>October is going to be an interesting period for <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, which will largely determine further developments in the entire market.The BTC market continues to stabilize after several events that affected its price in recent months. Bitcoin&#39;s price has reached a one-year low. And at the same time falling by 13% from the July high, which was $31.5 thousand. The fall is due to the accumulation of funds by institutional investors. And that led to a decrease in the supply of BTC on exchanges. Now only 5.83% of the total amount of BTC is in the wallets of crypto exchanges.Historical analysis shows that a decrease in bitcoin supply on exchanges is often associated with an increase in its price. However, despite this, the opposite trend was observed in September.Grayscale has won a lawsuit against the US Securities and Exchange Commission (SEC) over the conversion of Grayscale Bitcoin Trust (GBTC) into a spot bitcoin-ETF. This has led to large purchases of BTC by institutional investors. And most of whom are storing assets in cold wallets to increase the safety of their funds. This has also contributed to a reduction in the supply of BTC on exchanges.The bearish mood in the bitcoin market led to a decrease in trading activity. And the daily trading volume reached a low. However, if the market sentiment changes to bullish, the price of bitcoin, and with it the rest of the cryptocurrencies, will start to rise.Data from In/Out of Money Around Price (IOMAP) shows that if bitcoin overcomes the resistance at $28.5 thousand, it could stimulate the price to rise to $28.5 thousand. If trading volumes increase significantly, bitcoin&#39;s next rally could exceed this level.However, if the price drops below $25k, the forecast may be canceled and bearish sentiment may increase.<h3 id="hopes-for-an-upward-price-movement-are-high">Hopes for an upward price movement are high</h3>Historically, October is one of the strongest months for VTS. And in 69% of cases the first cryptocurrency grew. The situation in altcoins is a bit different. Many alternative coins have &#34;rewritten the bottom&#34; and continue to trade with about 90% discount. If bitcoin manages to consolidate above the zone outlined above, altcoins could return to early July levels. If Bitcoin manages to consolidate above the zone.And which has been outlined above, altcoins could return to early July levels. Some coins could go higher. But such a prospect is better to assess individually for each project.The last few months with a shortage of fresh liquidity. As well as fundamental factors that can return interest in digital assets, the positioning of participants on BTC does not change. And large players continue to &#34;hold&#34; (hold in anticipation of growth), while small players continue to lose money on derivatives inside the price range.This directly affects the lack of strong price movements. And so far, it is very difficult to say for sure what exactly will be the trigger for a surge in volatility. However, <a href="https://crypto-upvotes.com/" rel="noopener noreferrer nofollow">our experts</a> note that such a long sideways (&#34;flat&#34;) formation on BTC will definitely lead to a price explosion in the future.

What will happen to Bitcoin in October

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