2024

<p>The month of October 2024 is currently marked by notable declines in the crypto market. Investors, very worried, are wondering if Uptober will finally happen, or if they should already consider other solutions. In any case, Bitvavo’s analysis will allow them to position themselves and make informed decisions for the end of the year.</p>
<h2 id="h-a-very-eventful-week-in-the-crypto-market">A very eventful week in the crypto market</h2>
<p>The week was marked by <a href="https://www.cointribune.com/en/massive-sale-of-eth-bitcoin-wobbles-crypto-market-on-alert/" target="_blank" rel="noopener noreferrer nofollow">significant movements in the crypto market</a>. However, Bitvavo highlights the performance of altcoins outside the top 10, which tend to react more quickly than BTC.</p>
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<p>The total market value of these altcoins has touched the descending trendline, which is encouraging. However, two clear signal lines are emerging: a move above the green line would confirm a trend change, while a move below the red line would indicate the opposite.</p>
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<p>The week was also tumultuous for the XRP community. The announcement of Bitwise’s request to the U.S. SEC for a spot XRP ETF initially sparked enthusiasm. However, this optimism was quickly tempered by the announcement of the SEC’s appeal against Ripple’s previous court victory. According to Bitvavo, this news caused significant volatility for <a href="https://www.cointribune.com/en/crypto-the-sec-drops-ripple-xrp-by-15/" target="_blank" rel="noopener noreferrer nofollow">XRP which fell by 15%</a>, illustrating the ongoing challenges faced by cryptos.</p>
<h2 id="h-a-possible-increase-in-sight">A possible increase in sight?</h2>
<p>Despite this correction, Bitvavo remains optimistic about the long-term trend of the crypto market. The charts show that the series of higher highs and lower lows remains intact, supported by the 50-week moving average. This setup suggests that a decisive move is imminent, either towards a deeper correction or towards a recovery to the upside.</p>
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 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="535" src="https://www.cointribune.com/app/uploads/2024/10/IMG_9889-1024x535.png" alt="The charts show that the series of higher highs and lower lows remains intact, supported by the 50-week moving average. This setup suggests that a decisive move is imminent, either towards a deeper correction or towards a recovery to the upside." class="wp-image-733830" srcset="https://www.cointribune.com/app/uploads/2024/10/IMG_9889-1024x535.png 1024w, https://www.cointribune.com/app/uploads/2024/10/IMG_9889-300x157.png 300w, https://www.cointribune.com/app/uploads/2024/10/IMG_9889-768x401.png 768w, https://www.cointribune.com/app/uploads/2024/10/IMG_9889-1536x803.png 1536w, https://www.cointribune.com/app/uploads/2024/10/IMG_9889.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Deeper correction or recovery to the upside?
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<p>Beyond its precise and effective analyses, Bitvavo stands out as an ideal platform for young crypto investors, thanks to its user-friendly interface and competitive transaction fees. The platform offers a wide range of digital assets, allowing users to easily diversify their portfolios. Additionally, Bitvavo offers educational resources and responsive customer support, helping new investors navigate the complex world of cryptocurrencies.</p>
<p>Finally, week 41 of 2024 was rich in events for the crypto market. Bitvavo emphasizes the importance of staying vigilant and informed in the face of market fluctuations. With <a href="https://www.cointribune.com/bitvavo-presentation-dune-plateforme-crypto-complete/" target="_blank" rel="noopener noreferrer nofollow">quality tools and analyses</a>, Bitvavo continues to support investors in their financial decisions.</p>

Is The Crypto Market Heading Towards An Imminent Uptober?

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