Ethereum

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Bitcoin

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Despite many consumers’ negative outlook, the US economy is continuing to soar. The latest jobs report indicates that <a href="https://www.reuters.com/markets/us/us-job-growth-beats-expectations-september-unemployment-rate-unchanged-38-2023-10-06/" target="_blank" rel="noopener noreferrer nofollow">hiring hit an 8-month high in September</a> as wage inflation slowed down.
That’s outstanding news for the crypto industry, which was awaiting the jobs report to find out whether more rate hikes are on the way from the Federal Reserve. The combination of high employment and cooling wage growth signals that the Fed may have achieved the ‘soft landing’ it was seeking this year.
Now, crypto analysts are re-evaluating their predictions for top tokens in the context of this new data. Let’s take a look at the latest price predictions for Bitcoin, Ethereum, and Bitcoin Minetrix.
<h2 id="strong-bitcoin-set-to-push-towards-30k-and-beyond-strong">Bitcoin Set to Push Towards $30k and Beyond</h2>
Bitcoin has been trading in a range between $25,000 and $28,000 for much of the summer after briefly breaking above $30,000 in July. In the eyes of many analysts, the biggest crypto’s doldrums have stemmed in part from concerns over rising interest rates.
Now, analysts are changing their tune as rates appear to be nearing their peak. Charlie Morris, chief investment officer at ByteTree, said that ““Bitcoin futures look good” and that BTC will be <a href="https://www.coindesk.com/markets/2023/10/05/bitcoin-enters-quiet-bull-market-as-safe-haven-from-bond-market-turmoil-analyst-says/" target="_blank" rel="noopener noreferrer nofollow">“off to the races”</a> once interest rates begin to drop.
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Morris didn’t give a firm price prediction, but ByteTree did upgrade Bitcoin from “neutral” to “bullish.” Meanwhile, Michaël van de Poppe, CEO of MN Trading, predicted that <a href="https://twitter.com/CryptoMichNL/status/1709458121645576604" target="_blank" rel="noopener noreferrer nofollow">Bitcoin could reach $30,000 within the next few months</a>.
Bitcoin is also benefiting from the push for a Bitcoin ETF. Although the SEC has delayed a decision on allowing the first spot Bitcoin ETF in the US, approval <a href="https://www.investing.com/news/cryptocurrency-news/bitcoin-etf-approval-in-january-2024-likely-triggering-potential-price-movements-93CH-3191446" target="_blank" rel="noopener noreferrer nofollow">could come as early as January</a>.&nbsp;
Analysts widely expect a Bitcoin ETF to serve as a catalyst that could help it break through the $30,000 price barrier.
<h2 id="strong-ethereum-could-move-to-1-800-with-muted-price-action-strong">Ethereum Could Move to $1,800 with Muted Price Action</h2>
Whereas price action in Bitcoin has been relatively exciting in recent weeks, price action in Ethereum has been muted.
The world’s second-largest cryptocurrency by market cap has experienced below-average trading volume since July. The BTC/ETH ratio has also steadily increased, signaling that traders are favoring Bitcoin over Ethereum.
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While Ethereum is sensitive to interest rates along with the rest of the crypto market, it doesn’t have the same sensitivity as Bitcoin. So, analysts don’t see the latest jobs report as a major catalyst.
In fact, analysts have been relatively quiet in issuing new predictions for Ethereum. Ali, a crypto analyst on X, suggested that Ethereum will either <a href="https://twitter.com/ali_charts/status/1691788043881971919" target="_blank" rel="noopener noreferrer nofollow">move back up to the $1,800 price level</a> or fall to support at $1,600. But Ali didn’t predict which scenario is more likely for ETH.
There have been rumors of a <a href="https://www.coindesk.com/business/2023/10/02/grayscale-moves-to-convert-its-ethereum-trust-to-a-spot-eth-etf/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETF</a> to follow a spot Bitcoin ETF’s approval, but any such fund likely won’t debut until late 2024 or beyond. In the meantime, investors and analysts are watching Ethereum’s consolidation and waiting for a more substantial catalyst.
<h2 id="strong-analyst-predicts-10x-gain-for-bitcoin-minetrix-after-launch-after-stake-to-mine-project-raises-680-000-strong">Analyst Predicts 10x Gain for Bitcoin Minetrix After Launch After Stake-to-Mine Project Raises $680,000</h2>
<a href="https://shrt.care/f24415e8?referrer=top-3-crypto-price-predictions-as-us-jobs-growth-report-smashes-expectations---bitcoin-ethereum-bitcoin-minetrix" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a> is a new cryptocurrency that could benefit dramatically from any upward movement in the price of Bitcoin. The project offers a stake-to-mine ecosystem that makes it easier and safer for traders to mine BTC.
With Bitcoin Minetrix, investors can stake the project’s $BTCMTX token and earn non-transferrable mining credits. These mining credits can be redeemed for Bitcoin mining hashpower and any mined Bitcoin is transferred to the investor.
<img src="https://cdn.thebittimes.com/images/2023/10/07/1696690662.webp" alt="" width="800" height="457">
In effect, Bitcoin Minetrix investors can stake $BTCMTX and earn BTC rewards.
The project solves one of the thorniest problems with cloud Bitcoin mining, which is that miners typically need to transfer crypto to an unknown mining farm and simply hope that they receive their BTC. With Bitcoin Minetrix, investors redeem mining credits and never put their tokens at risk.
The project has proven extremely popular, raising more than $680,000 in the first two weeks of its presale. Based on early demand for $BTCMTX, crypto analyst Jacob Bury has predicted that <a href="https://www.youtube.com/watch?v=HOtU4UfV_3Y" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix could be the next token to 10x after launch</a>.
While the Bitcoin Minetrix presale is still in its first stage, investors can buy $BTCMTX at a price of $0.011. That’s an 8% discount from the final stage price.
Investors who want to lock in the lowest price for $BTCMTX have to hurry as the first presale stage is already more than 20% sold out.
<a href="https://shrt.care/f24415e8?referrer=top-3-crypto-price-predictions-as-us-jobs-growth-report-smashes-expectations---bitcoin-ethereum-bitcoin-minetrix" target="_blank" rel="noopener noreferrer nofollow">Visit Bitcoin Minetrix Presale</a>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-3-crypto-price-predictions-as-us-jobs-growth-report-smashes-expectations-bitcoin-ethereum-bitcoin-minetrix-tbt65501.html">https://thebittimes.com/top-3-crypto-price-predictions-as-us-jobs-growth-report-smashes-expectations-bitcoin-ethereum-bitcoin-minetrix-tbt65501.html</a>

Top 3 Crypto Price Predictions As US Jobs Growth Report Smashes Expectations - Bitcoin, Ethereum, Bitcoin Minetrix

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