FOMC

Bitcoin

<ul>
 <li><strong>The price has been consolidating in a confined range between $34,830 and $33,450.</strong></li>
 <li><strong>The market leader is up 26.72% in the last 30 days.</strong></li>
</ul>
<p>In light of recent events, billionaire and former hedge fund manager Stanley Druckenmiller has come forth to say that he may have been wrong about not owning Bitcoin all along.</p>
<p>Duquesne Capital founder Stanley Druckenmiller was having a conversation with hedge fund manager Paul Tudor Jones. Druckenmiller was taken aback by Bitcoin’s success among young people and agreed that the cryptocurrency had value as a medium of exchange on par with gold.</p>
<p>The wealthy investor has been outspoken about <a href="https://thenewscrypto.com/bitcoin-btc-surged-over-107-whats-driving-the-rally/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> since at least 2020, when he described it as an asset class. Despite his optimistic view on BTC, he made it clear that he owns gold.</p>
<p>Moreover, the remarkable whitepaper that introduced the world to Bitcoin, completed 15 years. On October 31, 2008, the white paper that became the model for a revolution in the financial sector was published.</p>
<h3 class="wp-block-heading" id="breakout-highly-likely">Breakout Highly Likely</h3>
<p>At the time of writing, BTC is trading at $34,080, down 0.37% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is up 30.66%. The market leader is up 26.72% in the last 30 days. The price has been consolidating in a confined range between $34,830 and $33,450, eyeing for a breakout in either direction.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-6.png" alt="" class="wp-image-84857" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-6.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-6-300x181.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-6-150x90.png 150w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>Investors and traders alike would be keeping a close eye on the upcoming <a href="https://thenewscrypto.com/investors-eye-upcoming-fomc-meeting/" target="_blank" rel="noopener noreferrer nofollow">FOMC</a> meeting on November 2. If the price manages to go past the $35,030 recent high then it will likely rally all the way till $42,400 resistance level. On the other hand, if the price manages to fall below $33,260 support level then it will likely move towards $30,500 support level.</p>

Bitcoin Price Enters Consolidation Phase Eyeing for a Breakout

Table of Contents

TheNewsCrypto

Other articles published on Oct 31, 2023

FTX and Alameda Research Transfer SOL, ETH, RNDR, and MKR Assets!

Shiba Inu Transactions Surge Over 450%, 4.5 Trillion on the Move

Ethereum long-term owners holding bags? Data says yes

Announcing atato as trusted custodian partner of Coinseeker.co ecosystem

Global watchdog: Stablecoin cons outweigh pros for cross-border transactions

Introducing Galxe 2.0 — Part 1: GAL Token Utility Update, Mobile App, Smart Balance, Web3 Score, ...

Join our free newsletter for daily crypto updates!