[2020-11-05] How was October for Crypto? CoinGecko’s October Report tell it all

[S3cco]

How was October for Crypto? CoinGecko’s October Monthly Report tells it all
https://bitcoingarden.org/how-was-october-for-crypto-coingeckos-october-monthly-report-tells-it-all/

CoinGecko, the world’s leading independent cryptocurrency aggregator, has just released its October Report. In their analysis of the market, CoinGecko found that Bitcoin had quite a bullish month due to a number of factors. Bitcoin began its rally as soon as the ETH craze caused by the DeFi boom began to cool down. Additionally, the month of October saw a lot of institutions such as PayPal, Square, and DBS Bank taking steps in adopting the cryptocurrency. The news of its adoption certainly helped to drive the positive sentiment for Bitcoin.

As a result, Bitcoin’s price at the end of October was 28% higher and hit multi-year highs at $13,778. Further proof of Bitcoin’s growth can be found in its trading volume which ended the month with a 22% increase. In fact, this is its best monthly performance since the February-March market crash.

Up till 31st October 2020, Bitcoin has had 97 consecutive days where its price has stayed above the $10,000 mark – the longest period in its history.

Despite a slight pullback in September, total cryptocurrencies market capitalisation still continues its ascent with an increase of 19%, leading to another yearly-high of $378 billion. Trading volume saw a slight recovery of 7% too, allowing it to return to average volumes last seen in August. This is likely due to a surge of large institutions adopting Bitcoin and implementing it into their business strategies....

[hugeblack]

News like PayPal’s move to cryptocurrencies has been around for several days, I thought it happened yesterday. CoinGecko’s reports are reading numbers and displaying them, not analyzing.
They had some great diagrams for showing and illustrating numbers.

My analysis for October was that it was the start of the trend, which if it continues and the price breaks the $ 19,000 barrier, we will witness an amazing year in 2021.

[condoras]

News like PayPal’s move to cryptocurrencies has been around for several days, I thought it happened yesterday.

I think that was Friday that PP announces that will remove waitlist for crypto services.

My analysis for October was that it was the start of the trend, which if it continues and the price breaks the $ 19,000 barrier, we will witness an amazing year in 2021.

The barrier of $19k will break eventually at some point, so 2021 will be definitely an amazing year and not only for BTC.