Bitcoin analysis header price forecast. After the record month of October, expectations for the Bitcoin price and the prices of the top 25 crypto coins are high. In our weekly crypto price forecast we look ahead to the price developments for Bitcoin and the top 25 crypto coins in the coming week. We follow our usual approach. That means that we first do a reality check on our crypto price forecast from last week. Then we analyze the current price.
Finally, we look ahead using fundamental factors, technical trend analyses, oscillators and the Elliott Wave analysis for Bitcoin to determine the Bitcoin price forecast. Then we do the same for the top 25 crypto coins.
Bitcoin price in the past week
We started in a rising market. After this, the price leveled off, after which the price fell. We had to reckon with a crypto snowball, but the price rebounded to end the week neutral.
The current Bitcoin price
Over the weekend, Bitcoin price remained neutral in a slightly declining trend, but as usual, recovered over the course of yesterday. The current Bitcoin price is at EUR 53,803.76 ($62,175.81) at the time of writing. This is 2.10% higher than yesterday at around the same time, but still a fraction lower than when US markets closed last week.
We predicted a slightly positive week for Bitcoin. This expectation came true. The weekly result for the Bitcoin is +1.42%. This brings the monthly result to 28.77%. All results and the live Bitcoin price can be viewed as usual on the Tradeincrypto.com site.
The crypto price forecast for the Bitcoin price in week 44
Of course, the question is whether Bitcoin will start November as positively as it closed October. We analyze the forecast for the coming week. Renovato.io cryptocurrency has enough information. First, we map out the fundamental factors that play a role. For this we use, among other things, the macroeconomic calendar and the crypto calendar. We then try to interpret these factors on the basis of various technical analyses, such as the technical trend analysis, oscillators and Elliott Wave Analysis for Bitcoin.
Fundamental Analysis for Bitcoin in Week 44
On the general economic calendar, we see that today a little less trade volume can be expected from professional parties, since people in various countries have a day off in connection with All Saints’ Day.
We also see that various Central Banks will take an interest rate decision in the coming week and also look ahead to (the phasing out of) COVID-19 support measures. If analysts see this as a harbinger of inflation and economic turmoil, the Bitcoin price could benefit. On Wednesday, both the ECB and the FED will release figures and expectations, so that’s where the focus lies for the coming week.
On the crypto calendar we see that the ‘difficulty rate’ for Bitcoin mining will be increased again this week. This is the eighth time in a row and unique for Bitcoin. Investors therefore see this as a positive sign.
Also the behavior of hodlers, which we talked about on Friday, shows that they are very bullish. In addition, it appears that the crypto exchanges can expect a supply shock. They are almost out of their reserves. This means scarcity and scarcity means pushing up prices. The question is, of course, whether that will happen this week. Perhaps technical analyzes provide an indication of an answer.
Bitcoin Technical Analysis in Week 44
The technical trend analyzes show a strong buy signal for Bitcoin. The oscillators give a neutral signal for Bitcoin. If we perform these combined analyzes for the week, we see a continuous (strong) buy signal. The Fear & Greed Index also continues to indicate ‘greed’, without overheating.
Historical Analysis Shows: Bitcoin Is Running Like A Clock
As we have seen in recent weeks, the Bitcoin price trend in this fourth quarter of the year after halving is very similar to the Bitcoin price in the last quarter of 2017 and 2013. This week is no different.
The Elloitt Wave analysis becomes more positive
As we see in the Elliot Wave analysis for the coming week, the wave pattern is becoming more positive. Although there is still a chance of a correction, confirmation of a rising wave seems to be in sight. In the short term, the eyes are therefore mainly focused on the price level of $ 62,000. If Bitcoin stays above that, another bullish wave could ensue. If the price does not hold this limit, we can expect a correction towards the support level at $ 58,000, after which the bull rally will follow. You can view the entire Elliott Wave analysis for Bitcoin below.
Our Bitcoin price forecast for week 44
All in all, we see a lot of positive indicationears and few signals that indicate a (significant) fall in price. We therefore expect a slightly positive to positive price development for Bitcoin in the coming week. Of course we are curious if the other crypto coins will follow.
The price of the top 25 crypto coins in the past week
Last week was a good week for many crypto coins. We often saw bigger gains than for Bitcoin. We were even allowed to set a price record for Ethereum. Solana price prediction future is positive. Other cryptocurrencies also seem to be heading for new records. So all in all, it was a positive week for most cryptocurrencies in the top 25. This is reflected in the current prices.
The current prices of the top 25 crypto coins
At the moment we see that investors are in a positive mood. Only Stellar (XLM) recorded a price loss of 1.36%. All other cryptocurrencies write green numbers. Fastest climber is Shiba Inu (SHIB), closely followed by Solana (SOL). They record respectively +10.51% and +10.15% in 24 hours.
We expected a (slightly) positive week for the top 25 crypto coins last week. This expectation was largely fulfilled. There were some coins that recorded a loss. Cardano (ADA) took the biggest hit, losing 6.64%. With that, the month ended for this Ethereum killer with a loss of 11.56%. This also makes the coin the biggest monthly loser in the top 25.
The biggest gain of the past week was for Shiba Inu (SHIB), which is up 99.68%. This brings the monthly result to 841.63%. Of course, in addition to this absurd result, there was also a weekly return for many other crypto coins from the top 25. On the Tradeincrypto.com website you can analyze all weather and monthly results, but also all live crypto prices.
The crypto price forecast for the prices of the top 25 crypto coins in the coming week
We also look at the fundamental factors that are important for the top 25 crypto coins. We can then further interpret these on the basis of technical analyses.
Fundamental factors crypto price forecast week 44
Of course, we again note the fixed fundamentals, such as the Twitter thumb or a conference visit from Elon Musk, the process between SEC and Ripple and fundamentals that we mentioned for Bitcoin. We see a lot of events this week that are focused on NFTs. The individual cryptocurrencies note few items on the crypto agenda for next week. Two items stand out:
Strong Buy Signals
The technical trend analyzes show strong buy signals for most cryptocurrencies in the top 25 for the coming week. Exceptions are Cardano (ADA), Hex (HEX), Bitcoin Cash (BCH) and Filecoin (FILE), which get a strong sell signal. UniSwap (SWAP) and InternetComputer (ICP) record a regular sell signal.
The oscillators only confirm the sell signal for Bitcoin Cash (BCH), but are a lot more moderate. We see a lot of neutral signals. Buy signals are there for Ethereum (ETH), BinanceCoin (BNB), Shiba Inu (SHIB), Dogecoin (DOGE) and Cosmos (ATOM). These are all confirmed by the technical trend analyses.