Bitcoin-BTC The price of $ 120,000 is penetrated

The price of the Bitcoin currency entered the barrier of $ 120,000 at dawn today as part of a strong wave of height which started in September and continued until October, the month when traders are called “October rising” due to the performance of the positive market during the IT historically.

This launch came with a lightning recovery earlier in the week. After decreasing during the day at $ 114,000 on October 1, the price of the Bitcoin currency was launched at a range of $ 118,700 to $ 118,900 the second of the same month at $ 119,500. Usually this month is considered a favorable season for the market boom, the price of Bitcoin (Bitcoin) reached 14.4% in October since 2013.

A spectrum of other digital currencies joined the height wave, so that the price of Ethereum-Eth increased by 3.2%, recording $ 4,536, and the price of Ripple-XRP increased by 1.8% to reach $ 3.04, while the price of the Solana-Sol currency increased by 4.2% to reach $ 233.80 Crapeto assets increased by around 2% by 4%.

This increase occurs despite the closure of the United States government announced at the beginning of the month. Trading platforms have monitored continuous purchasing activities to take advantage of the opportunity to refuse and recycle investments in the fourth quarter, which is a familiar position in the seasons of the previous “emerging” increase.

Bitcoin gains in October reflect a long history of seasonal power

Gadi Chait, head of the Zabo Bank (Xapo Bank) investment department – said: “October has always come positively at the price of Bitcoin, and the first evidence indicates that this year may not exception the CFTC in a limited rate of 5 and 6% of its employees – the momentum has not been weakened, which shows the elasticity of Bitcoin recently.

He continued by saying: “Far from being an explicit speculation arena, Bitcoin continues to show his ability to challenge the opposite conditions and confirm his firm digital position. As for long -term investors, the trend is completely clear, because the piece of bitcoin (bitcoin) is structural, not seasonal.”

For their part, market experts describe the season “October / October” as a combination of oneself in terms of investment recycling and a desire for risk. With investments at the end of the year, liquidity improves and fluctuations are often a catalyst for size, which was historically in favor of Bitcoin.

Increased market activity derived with the extension of the extent of the momentum “October”

The derivative markets indicated the climbing of activity around the numbers ending with zeros, while the immediate negotiation volumes have improved when closing a scenario similar to the events of October from previous years, when the momentum was once stable for days.

Although organizational ambiguity remains similar, direct indicators on the market indicate flexibility, so that traders resort following new developments and monitoring of the rhythm of approvals and directions, even with the reduction in the number of American agencies working during the closing period.

“The closure of the American government – which recently participated in the implementation – can harm the Akribo sector by disturbing dry and CFTC, the pair of organic markets for digital assets,” said Barzmysław Kral, CEO of Zondacryptto.

Karal warned that the decrease in the number of opening employees can slow the pace of innovation and weaken investors’ confidence, with a delay in directions, approvals and application. Work can vacillate on subjects such as genius and the law on clarity, and can remain questions about the anti-CBDC Act law, which will weaken confidence.

Consequently, varieties of federal payment systems can push users to stable currencies, and the lack of continuous work within the dry can slow down their decisions concerning immediate negotiation funds in the Crypto ETF, and Karal believes that all of this can “give the heads of the sector the possibility of putting pressure for clearer and faster laws during post-budget discussions.”

Currently, the momentum determines the market path. If the October season is followed according to its usual approach, traders will monitor if the $ 120,000 barrier will turn into a level of support for the price of the Bitcoin currency, while investment recycling and macroeconomic indicators are determined the next stage trajectory.

The price of the Bitcoin-BTC position enters the barrier of $ 120,000 with an increase in the dynamics “up October”, and the government’s closure is unable to stop the earnings of the earnings first on the Arab Cryptonews.