The cryptocurrency market digest (BTC, DOGE). Overview for 31.10.2022

The leading cryptocurrency is creeping down again. On Monday, main fluctuations are near 20,487 USD. To preserve the uptrend in force, the BTC needs to brace itself and secure above 21,500 USD. Until this happens, all movements will be inside a flat.

The most important event of this week and month is coming, and this is the meeting of the US Federal Reserve System. With a probability of 81.4%, the market expects the regulator to lift the interest rate by 75 base points. 18.7% of investors count on an increase by 50 base points.

However, the main movements will be provoked not by the Fed’s decision but by its comments. Everyone is too interested in what is next to come? There is one more meeting left till the end of the year, and previously, the regulator planned to lift the rate at each meeting.

Seasonal cycles suggest that the BTC might keep growing this week, at least.

Money Fellows attracted 31 million USD

An Egyptian startup Money Fellows that works in the crypto market managed to gather 31 million USD at another round of financing. The company will allocate the money for designing new products and services, as well as for hiring new employees.

DOGE: best result of week

The copper coin DOGE demonstrated the best result of the week. Over 7 days, its price almost doubled. This let the coin rise to the 8th line of the rating of most popular cryptocurrencies. DOGE capitalisation grew to 15.54 billion USD.

BTC: 14 years since “White Paper” publication

On 31 October, it is 14 years since the BTC published its “White Paper” – a tech document that described the work principle of the peer-to-peer payment system. It is still unknown who is hiding behind the Satoshi Nakamoto penname.