Bitcoin Price Prediction For October November 2017
September and October 2017 looks like difficult time for crypto currencies. Many of our readers asked us for Bitcoin price prediction for October November 2017 and so on. September started with a news of possible restrictions on crypto trade in China, an eventual stoppage of exchange houses and the intervention of the People’s Bank of China in the regulation of ICOs. In the first two weeks of September, the crypto market has lost around 52 billion dollars in valuation. At the time of writing, the combining value of the whole market has fallen to 121.38 billion dollars, from 173.66 billion dollars estimated at the start of September 2017. The following graph shows the current decrease in the valuation of crypto economy.
Recent notifications from Chinese regulators are the main cause behind this gigantic fall, let’s see what is happening around china and it’s effect on whole crypto-sphere. On Monday, September 4, it became known that the Chinese authorities banned the country’s initial offer of coins (ICO). A joint statement was made by the People’s Bank of China and other government departments of the country, including the Ministry of Industry and Information Technology, the Banking Regulatory Commission of China and the Securities Commission, etc. Until recently, ICO flourished in China. The process attracted many scammers, who, while making illegal financial transactions, harmed the financial market and China’s reputation.
Earlier the week Wall Street Journal posted that some of the main markets that operate from Chinese territory could be closed. Looks like BTCC is the first victim of People’s Bank of China, the monetary entity of the Asian giant. The leading crypto exchange of China BTCC officially announced to close the crypto trading on it’s platform. As stated in the announcement of BTCC on Twitter, trading process will be stopped on September 30, 2017. At the same time, the BTCC reports that this decision does not affect other products, including the work of the mining pool.
BTCC is one of the largest bitcoin exchanges in China handling 25,660 BTC on average in 24 hours. In addition to Bitcoin, Litecoin also trades on the exchange. Today’s announcement by the BTCC has led to a further decline in the price of bitcoin. Bitcoin was already trading in the corridor between $ 3,800 and $ 3,900, and immediately after the statement fell to $ 3,600 in moments.
On the other hand, Russian government is unlikely to follow the path to ban crypto currency and will soon regulate the use of crypto in the country. This statement was made by the Minister of the open government Mikhail Abyzov.
“The crypto-currency factor can not be ignored and prohibited in the near future. The discussion on this issue is already underway, both in the government, and in the economic bloc and the Central Bank. I am sure that the decision will be made soon, “he said.
The minister also recalled the high potential of the Russian technology sector and assured that the government understands the need to support and develop new financial technologies.
Bitcoin, Ethereum Price Prediction for September – October – November 2017
Bitcoin and Ethereum has a big advantage of being leader of cryptosphere. Prices of both coin will recover faster than anybody else. The number of users of Bitcoin has been multiplied in recent years, and the increase in its value has meant that its owners also have significant gains only because they have them after having purchased them at a lower price. Septembers correction may attract a large number of people who were waiting for this correction to happen. BTC would reach USD 4,000, taking into account the legalization of bitcoin in Japan and also in Australia . After reaching this target BTC may touch $ 4,800 by the end of the year. Also check How to buy Bitcoin With PayPal.
Ethereum is the second most traded commodity after Bitcoin in recent times. We expect Ethereum to follow the suit and gain around 20%-25% by October end and may touch it’s all time high by the end of the year 2017.
Litecoin, Ripple Price Prediction for September – October – November 2017
Litecoin has been hit hard in September and it’s value has been decreased by 50% in matter of days, we expect LTC to bounce back at the same speed. BTC-e one of the oldest litecoin exchange today announced to re-launch their trading platform of September 15th. It seems that BTC-e users are going to be able to re-access part of their funds, which were confiscated by the US authorities. This will bring more liquidity to market.
Ripple (XRP) lost 30% of it’s value in first two weeks of September and it makes a good point to enter for new comers and if you bought higher then current price than better average your entry price by picking cheap coins. (Buy Ripple XRP with PayPal)
Monero, Zcash Price Prediction for September – October – November 2017
Monero and Zcash economy totally survives on anonymity, in fact these two coins performed well in September crash. Both coins lost 15% in value and we expect them to recover as soon as Bitcoin shows some traction. The blockchain of these two coins is not transparent but opaque, only few transaction data is available to public, therefore, companies like Chainalysis can only follow the trail. Since both coins are favorite of darknet we expect a good recovery soon in both scripts. Also check How to buy Zcash With PayPal Legally.
Note : We have been tracking Bitcoin since early 2012 and we has seen things. We saw bitcoin going from $50 to $250 and then $1100 and then back to $100 all in matter of weeks. We can predict one thing for sure that prices will go up again. However, you have to be extremely careful when taking into account the predictions given by any character in the world of finance. According to us, this year has been the most difficult to do trading since volatility has been much higher than in previous years, and predicting market movements has become a much more complicated task to carry out.