CandleFocus

What Will Bitcoin and Altcoins Do in October? Here is Coinbase Exchange’s Prediction

According to a report by Coinbase Research, the cryptocurrency market has a strong correlation with traditional stock markets, currently at around 50%, due to global economic easing efforts in the US and China. Ethereum (ETH) has outperformed Bitcoin (BTC) recently, with altcoins also benefiting from renewed buyer interest. Coinbase's report suggests that the crypto market is entering a strong phase, with stable funding rates and average open interest levels. The company remains optimistic about the crypto market's prospects, citing favorable macroeconomic conditions and industry-specific factors. Recent economic policies in the US and China, such as interest rate cuts and stimulus measures, have had a positive impact on the crypto market. Despite the positive outlook, Coinbase warns that there may be a lag before policy measures fully translate into higher crypto prices. Overall, Coinbase expects favorable trends and industry growth to support crypto performance for the remainder of 2024.

Related News