With September Passing, What Does October Hold For Bitcoin, Ethereum & XRP
September has been yet another cold month for cryptocurrency. As each new month arrives, speculation of the next bull run follows, though it seems that at the moment, bullish optimism is at an all time low. September promised to bring riches, with the SEC Bitcoin ETF deadline looming and various other big projects coming to the fore, we really did hope to see some great progression made this month.
Of course, XRP is the stand out crypto for the past two weeks, after the stunning announcement of a pending full release for xRapid, an announcement that saw XRP climb more than 100% in just a couple of days. Overall though, things have remained steady and low - presenting a great opportunity for new investors, but a bit of a boring anti-climax for those who are holding with the view to eventually make some money.
What will October bring?
Of course, this question is almost impossible to answer, and an outcome is impossible to predict. Bitcoin looks to remain steady and many believe that through October, Bitcoin will hold around the $6,500.00 mark at which it currently sits. As Bitcoin sits and waits in anticipation for a Bitcoin ETF to launch, many canât see Bitcoin moving past this figure until some big changes are made in Bitcoin regulation and of course, in the ETF decision making process. Therefore, the outlook for Bitcoin in October is stale. Looking beyond October however could present more exciting opportunities, as the SEC no doubt near a final decision on a number of their Bitcoin ETF applications.
Ethereum has a little more promise going into the next month. Investors believe that as a result of a mass sell off, Ethereum is riding itâs bottom and that soon enough, new investment will come in as a result of Ethereumâs low price. If this is correct, October may well see Ethereum begin to climb again. Weâd like to see Ethereum breach $350.00 and perhaps even $400.00. This would mark a steady process and would start to give investors some return. Values exceeding $500.00 however still remain unrealistic, unless a real bull run does set in through October.
Finally, XRP. XRP is expected to do some very big things. With the Ripple conference now looming and of course, a full roll out of xRapid expected, XRP could well make its way back up to $1.00 over the coming weeks. Ripple announced that xRapid would see a full commercial rollout within the next two months, therefore many do believe that xRapid will begin to surface during the latter weeks of October. If Septembers 100% + gains are anything to go by just based on xRapid speculation, then the full release will be a spectacle to truly behold. October could see XRP move past $1.00, pleasing an awful lot of investors in the process.
October promises to bring some optimism to the markets, after a number of quite poor months, we are now starting to see a shift, a shift towards upwards momentum. Granted, the momentum might not be powerful enough to bring us untold riches, however any upswing is a good thing and will be very much welcomed by the crypto community.
Remember, if you do choose to invest whilst prices are low, you should do your own further research. Only invest what you can afford to lose and always remember to trade safe.