Bitcoin rose again to $30 thousand. Why did this happen and what will happen next? Experts interviewed by RBC-Crypto commented on the growth of Bitcoin to $30 thousand. Experts named the prerequisites for the rise in price of the first cryptocurrency and predicted its dynamics for the near future. On October 20, the Bitcoin (BTC) rate for the second time in week reached $30 thousand. On Monday, October 16, the Bitcoin rate immediately soared to $30 thousand amid rumors of the approval of a spot exchange-traded fund (ETF) from BlackRock. Almost immediately the message was refuted, and the price of BTC fell to $28 thousand BTC/USD30 017 +334 (1.13%)Oct 22 01:55:061d 3d 1m 3m 1y 5l25. Sep2. Oct9. Oct16. Oct26 000.0027 000.0028 000.0029 000.0030 000.00Despite the fact that the market “jumped” for the first time on false news, the BTC rate, after waiting a few days, continued to grow. At 16:30 Moscow time, BTC is trading at $29.5 thousand, according to CoinGecko.rbc.group. Experts told RBC-Crypto what could have caused the Bitcoin rate to rise to $30 thousand and how the asset will behave in the future.” The position of buyers has strengthened”BitRiver financial analyst Vladislav AntonovBitcoin is growing in price against the backdrop of a weakening US dollar. After the speech of US Federal Reserve Chairman Jerome Powell on October 19, the dollar index fell overnight from 106.42 points to 105.74 points.The Dollar Index (DXY) shows the relationship of the US dollar to a basket of six other major currencies - the euro, yen, pound sterling, Canadian dollar, Swedish krona and Swiss franc. Historically, Bitcoin has been inversely correlated with the US dollar index. When DXY falls, the leading cryptocurrency rises in price. Powell said he intends to tread carefully on rate hikes. This reduces the risks of a sharp slowdown in the global economy and oil demand. The market considers it unlikely that the Fed will raise rates before the end of the year. According to the CME FOMC, the preservation of rates at the Fed meeting on November 1 is estimated with a probability of 99.6%. The positions of buyers have strengthened, but it is necessary not to reduce activity. According to cycles, Bitcoin will be under pressure locally until October 26th. The next goal for the cryptocurrency is $32 thousand. “Diversification of investment portfolios” Co-founder of the ENCRY Foundation Roman Nekrasov Against the backdrop of high inflation in the United States, some investors are looking for a way to diversify their portfolio. Shake it up to compensate for asset depreciation. One alternative way to hedge inflation risks is by investing in cryptocurrency. And here we are talking primarily about Bitcoin. No one is saying that the investment portfolio will consist entirely of Bitcoins. Investors are simply increasing its share of their investment portfolio a little in the hope that the potential growth of BTC in the halving year (2024) will help compensate for the depreciation of assets associated with high inflation. Cryptocurrency as a protection against inflation. Myth or reality At the same time, all investors are obviously investing in 10-year Treasuries, otherwise their yield would not have reached the highest level since 2007. I believe that six months before the 2024 halving, Bitcoin will begin to gradually strengthen, perhaps it will be able to end the current year at about $40-45 thousand. The main round of growth should be expected in the period after halving - on the horizon of 12-18 months. RBC-Crypto has launched monitoring of cryptocurrency exchangers. Choose a reliable exchange service with a favorable rate on yourcryptoex.ru or in a convenient telegram bot.AuthorAnastasia KuzmichevaForecastsBTCNewsBitcoinPartners' newsHAMAS first published a video with an Israeli hostageChubais, who had flown out of Israel, got in touch: that's where heHAMAS assessed Putin's statement about the conflict in one phraseAfter all the rumors, Kadyrov turned to the RussiansWhere now Kiev's missiles are reaching: here is a map of the affected areaGref: this is what the real exchange rate of the ruble should beIn Russia, she was a champion, and in Italy she began to wash floorsThe European Union has changed its position about the Russians: what do they say nowKiev wants to join the EU, but what do people want? - the Ukrainians were surprised by the answers Kazakhstan pulled out of the agreement with Belarus: what does this mean What do Wiener’s grandchildren look like from her only son (photo) This is how they insulted women in the USSR: but what does it really mean Didn’t say “I’m tired, I’m leaving”: Yeltsin’s shocking phrase was different Take a closer look: you definitely didn’t notice this movie blunder in “Girls” Pushkov revealed the truth about what will happen to Ukraine after the war in Israel Tuktamysheva’s departure is a severe blow to Russia What the mother of the girl who was captured by Hamas militants said Be sure to take a cash receipt: that’s why it’s really needed Failure of the counteroffensive - not the end: Putin revealed the plans of KievWhat they say about Russians abroad: Sokolova answered franklyInvestidea, 21 Oct, 12:04 3,098Investidea: Scenarios for Bitcoin in OctoberProfessional crypto trader on TradingView Ilyas Sharipov (CryptoStudentBlog) told his thoughts on the cryptocurrency market at the end of October and proposed a trading strategy for Bitcoin “RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.Analyzing the situation with Bitcoin (BTC), I will rely both on the local picture according to technical analysis, and by drawing an analogy with a similar market situation on October 20, 2020. Technical analysis: what every investor needs to know rbc.group First, let’s analyze the daily Bitcoin chart. The asset is currently trading in the range of $28,100 - $28,600, local support is at $27 thousand, the key resistance level is $29 thousand. On hourly timeframes there is a bullish squeeze in the form of a small falling wedge. Enlarge the chart The lower boundaries of the ascending channel are the levels of $25,500 and $32,000 , upon breakdown of which I expect to see either a strong fall or strong growth of the asset. Next, I’ll tell you why I’m still inclined to grow and expect to see it in the coming weeks. Now I want to turn to historical data and look at the situation of Bitcoin in 2020. As we remember, in the spring of 20, a worldwide lockdown was introduced due to the COVID-19 epidemic, and against this background, Bitcoin lost half of its market capitalization, falling in price from $8 thousand to $4.5 thousand. A similar strong drop occurred a year ago when the collapse of the FTX exchange, the Bitcoin rate immediately dropped to $15.3 thousand.Enlarge graph After all these difficult moments, Bitcoin turned around in the coming months, regardless of the news background. Drawing an analogy with the situation two years ago, one can find similarities in the recovery of the Bitcoin rate. In my opinion, we are in a similar upward channel. If we visually compare both of these moments, we can find both an analogy of movement and the formation of similar technical analysis figures. If in the near future we hold the local support zone - $27 thousand and consolidate at $29 thousand, I expect to see growth to the upper border of the channel. And with a breakout and consolidation at $32 thousand, we can see rapid growth (mostly during liquidations) to the area of ​​$38 thousand - $40 thousand. Cancellation for this long formation will be a departure from the lower border of the ascending channel and consolidation below $25 thousand. Then the bearish one will be activated scenario with the Head and Shoulders pattern on the daily timeframe. But you need to understand that this outcome is expected by many of those who want to buy Bitcoin in the region of $22 thousand, but will they allow this to happen? I highly doubt this, but we keep all the options in mind and work according to the strategy.RBC-Crypto launched monitoring of cryptocurrency exchangers. Choose a reliable exchange service with a favorable rate on yourcryptoex.ru or in a convenient telegram bot.InvestideaNewsBitcoinTelegram channel RBC-CryptoSubscribe and stay updated on the most important and current news about cryptocurrencyContact information Editorial team RBC Comfort RBC Pro Information about restrictions Legal information About copyright compliance © JSC "ROSBUSINESSCONSULTING", 1995–2023. Messages and materials of the network publication "RBC" (registered by the Federal Service for Supervision in the Sphere of Communications, Information Technologies and Mass Communications (Roskomnadzor) on 12/03/2021 under EL number No. FS77-82385) are accompanied by the mark "RBC". Materials marked "Company News" published under advertising rights.18+ crypto@rbc.ruMain CoursesMore details on RBC:https://www.rbc.ru/crypto/news/65338e7c9a79478a527adc15