During the EU trading term, Bitcoin is trading at $19,223, bouncing off the $19,000 supporting region. Between lows of $19,125, it has fluctuated. The demand for BTC appears to be influenced by a number of fundamental elements. But is it true that a 20% increase in BTC is possible?
The mobile app of German financial technology company N26, worth nine billion dollars, now supports crypto deals. Users of N26 Crypto will soon have a chance to purchase and exchange two hundred crypto tokens, such as BTC and ETH, starting in the Republic of Austria and eventually spreading out to different nations.
N26 cardholders receive additional discounts
This is encouraging news for the cryptocurrency market in general and for BTC specifically. Low hash rates and rising energy costs make it difficult for bitcoin miners to make a living. The quarter will be even more dissatisfactory for Bitcoin miners due to energy problems in North America and Europe as well as the current state of the market.
According to the most recent Q3 Mining Hashrate Index report, a number of factors led to importantly unrefined hashing costs and advanced mining costs per Bitcoin. Its hash prices started to decline a little bit in the middle of the third quarter.
The Fed’s position on charge increases may alter
As we approach the Federal Open Market Committee (FOMC) meeting on November 1-2, professionals claim that the Federal Reserve (Fed) is shifting its position on rate hikes, which is driving up the price of Bitcoin. They made the claim that autumn’s gain was the most recent correction point, with fewer corrections likely to postdate, mentioning the quotes from Fed officials in the mainstream media.
The price of BTC, however, significantly dropped but quickly recovered lost ground. A symmetrical triangular pattern indicates that Bitcoin will soon encounter opposition close to $19,300. Since Bitcoin transactions are erratic, everyone can yet invest in worthwhile projects even if the price is low. Although it is difficult to predict the future, given the strong foundation, it appears that Bitcoin has a very bright future.