Market Analysis for 29.09.2020 Bitcoin moved according to ye | Your Crypto Boss

Market Analysis for 29.09.2020

Bitcoin moved according to yesterday's Review - 11K couldn't be taken, the main crypto currency lost support by 10800, but a further decrease hasn't yet followed and now Bitcoin is trading around 10700.

Market capitalisation 343 billion, dominance index 57.5%

Stock markets were growing yesterday with the S&P 500 adding 1.61% and closing at 3351.
The dollar index fell to 94.250, while gold rose to 1889 and continues to grow slowly.

A period is about to begin in which the main news background for the US markets will be election news. The fight will be tough. A war of compromises has already begun - Trump has allegedly not paid taxes, and Biden doesn't want to take a drug test (according to Trump, he feels something about this part).
Anything in Trump's favour is positive for the market, anything in Biden's favour will put pressure on the markets.

Today will be the first round of debate and we wish Trump success.
Not just because of the markets. Trump- is a healthy conservatism and traditional values. Biden is the opposite. That's why I'm for Trump.

On the crypto market, even with a favourable external background, Bitcoin could neither take 11K nor above 10800. However, there was no strong decline either, and Bitcoin is holding steady at around 10700.

With a favourable external backdrop (a drop in the dollar index in the first place), there is every chance that Bitcoin will return to 10800, in which case the next target will be 11K.
If the dollar index goes down to 94.5 and above, Bitcoin is likely to test the strength of 10500.

The most likely development for today- is Bitcoin in the range of 10500-10700 before the US session, further developments are dependent on the external background.
From an interesting- point of view, Bitwise has notified the SEC that it has raised 8.9 million, twice the amount raised in the whole of 2019. The Fund attributes this to inflationary expectations due to the Fed's actions and the desire of the most considered investors to protect their assets from inflation.

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