After an intense September in which micro and macro factors provided significant volatility, Bitcoin price movement managed to provide both a weekly and monthly candle favoring the bears.
Here are some highlights on why the cryptocurrency markets may become even more volatile during October:
The DXY continues to grow stronger. Usually when DXY moves up the stocks & the cryptocurrency markets tend to move down.
The total altcoins market capitalization excluding Bitcoin is back to $517+ billion reaching its lowest since mid of July, 2022.
The FOMC(Federal Open Market Committee) meeting will be held on 1–2 November.
Jamie Dimon warned that runaway inflation, big interest rate hikes, the Russian invasion of Ukraine and the unknown effects of the Federal Reserve’s quantitative tightening policy are among the indicators that the global economy could tip into a recession by the middle of the next year. Read more here.
“A $568 Million Hack of Binance Coin Roils Crypto Sector Anew”. Read more here.
“XRP price could rally by 50% based on comments from a former SEC director”. Read more here.
XRP’s price in October has also positively impacted some of the algorithmic trading strategies in the Mercor Dapp. Let’s have closer a look at the AI ALPHA XRP which currently has a 38.44% APY on a monthly basis:
AI ALPHA XRP Algo Trading Strategy at Glance
AI Alpha is developed by a professional team of quantum engineers who developed multiple strategies and further fine-tuned them over the past several years. Their benchmark is beating the market, beating the Buy & Hold strategy. AI Alpha XRP is a multiple indicator strategy using technical indicators empowered with machine learning to catch trends early.
Copy Trade the Bitcoin Max (USD) Algo Trading Strategy here.
Automated Algorithmic Trading by World Class Algorithms
Mercor takes on a win-win approach that benefits both developers and investors. Not only do the developers benefit by exploiting their unique skills on the Mercor platform — investors can too. Mercor makes algorithmic trading as accessible as it can be. We like to aim for a ‘Click and Invest’ experience for traders. Trading has never been easier: the only move you have to make is to stake your $MRCR tokens. After that, you pick an algorithm to your liking, invest, and the trading begins! You don’t have to worry about when to sell or when to buy — the bot does the work for you.
Are you an investor or a trader with an interest in algorithmic trading? Head over to app.mercor.finance and enjoy world-class algo trading strategies!