Consulting Giant: Buy This Cryptocurrency In October!

Bitcoin has closed one of its worst-performing months in history. September has typically been a period of falling price since BTC was launched. This situation was no different in September 2022. The President’s cryptocurrency has lost about 3% over the course of the month. But this was surprisingly the most favorable September that Bitcoin has had since 2016. We are now in October and the asset is giving a buy signal, according to consulting firm Motley Fool.

Leading cryptocurrency has entered a historically good month

Bitcoin often tends to cool as autumn arrives. However, October, November and December are some of the months when it performs best. For this reason, investors don’t care for the weather to get colder at the moment. During Bitcoin’s existence, October saw an increase of almost 27%. President coin has dropped in just three Octobers of the last 10 years. These numbers make October the third best performing month for BTC.

However, November is not inferior to October. November brought the Bitcoin price an average increase of around 40% to date. This is the presidential cryptocurrency’s historically best-performing month. So, will BTC rise in 2022 like in previous years? Bitcoin’s decline in 2022 was driven by the rise in global inflation and the Russia-Ukraine war. Therefore, it would be credulous to assume that an asset like Bitcoin will not see a random price increase until inflation is under control.

Bitcoin, inflation and interest rates

The Fed has increased interest rates four times in 2022. There are now encouraging signs that the Fed’s approach to dealing with inflation by raising interest rates is having the desired effect. When interest rates rise, the economy cools. Thus, consumers spend less and companies borrow less. This, in turn, causes inflation to eventually slow down. Several new factors are generating speculation that the Fed may now return from fiscal tightening. If this happens, the demand for cryptocurrencies will increase.

New York Fed Leader John Williams gave a speech in Phoenix this week. Williams made some valuable announcements about supply chain problems and inflation. According to him, inflation should drop to about 3% by next year due to current strategies. This is not the 2% rate the FED is targeting. However, it is extremely good compared to the current 8%. If the economy proceeds in this state, central banks can raise less interest rates around the world. If this happens, it will have extremely positive consequences for BTC.

The best days for Bitcoin (BTC) may be ahead

2022 has been a brutal year for Bitcoin and the general cryptocurrency market. As we reported, BTC has fallen by over 70% since its November 2021 highs. Still, there really seems to be a measure of light at the end of the inflation period. Therefore, we can expect riskier assets like Bitcoin to finally breathe.

Those who take the bottom will of course be the winners the most. At this time, investors should not make long-term decisions based on short-term events. But it is also possible that October will be shaped like other October in Bitcoin history. Especially if the Fed starts to change its approach, entry at today’s prices will minimize risk. This can make it possible to achieve the maximum profit.

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