After the recent collapse that caused a shock in the crypto market, bitcoin is once again showing strong growth. On the morning of October 27, the exchange rate of the first cryptocurrency broke the mark of $ 116.2 thousand, updating the maximum since October 10, the date of the largest collapse of the year, which cost traders about $ 19 billion.
The reason for the fall was the harsh rhetoric from Washington: President Donald Trump's statement on 100% duties on Chinese imports caused a wave of panic among investors. However, on the evening of October 26, a softening followed — the White House noted that China could still avoid sanctions. This gave an impetus to the recovery of quotations.
As of 11:00 Moscow time, bitcoin is trading at $115.6 thousand, having gained about 3.5% per day. Strengthening is also observed among altcoins: Ethereum added 6.3%, reaching $4.25 thousand, the best indicator over the past week.
The total capitalization of the crypto market increased by almost 4% in a day, reaching $3.92 trillion. Many coins from the top 100 of CoinMarketCap have shown positive dynamics. The Pi (PI) token was particularly notable, rising in price by 32%. At the same time, MemeCore (M) showed a decrease of 7%.
The fear and greed index returned to the neutral zone, rising from 40 to 51. This may indicate a recovery in investor interest in cryptocurrencies and a reduction in concerns about possible volatility.
Experts expect that further dynamics will depend on the decisions of the US Federal Reserve System. The Fed's meeting scheduled for October 29 may make adjustments to monetary policy. If a softening of the exchange rate is announced, this will become an additional growth driver for the crypto asset market.
Thus, October may end in the "green zone" for bitcoin, and the market recovery after a stressful situation adds confidence to trading participants.
