Cryptocurrency Market Review for October 24, 2024: Bitcoin Growth and Ethereum Stability
Over the past two days, significant changes have been observed in the cryptocurrency market, in particular, the growth of Bitcoin and the stable dynamics of Ethereum. Let's take a look at what happened and what to expect in the near future.
Bitcoin: a new surge and prospects
On October 24, 2024, Bitcoin (BTC) shows steady growth and trades at $67,277. This was a continuation of the positive trend that began in mid-October, when the price rose above $69,000 for the first time in three months. And although there have been minor fluctuations recently, the market maintains an optimistic mood for the end of the year.
Historically, the last quarter (OND) has always been strong for Bitcoin, especially in halving years. Investors continue to believe in the asset's potential, supporting growth, particularly due to increased interest from institutional players and new initiatives related to Bitcoin ETFs.
Ethereum: stability and expectation of a breakthrough
As of today, Ethereum (ETH) is trading at $2,620, showing relatively stable dynamics. There have been no significant swings in recent days, but analysts note that the key zones are $2,600 for support and $2,700 for a breakout, which could be the impetus for further upside.
Amid further rollout of upgrades such as the “Shanghai Upgrade”, Ethereum maintains its position as one of the leading blockchains for decentralized applications (dApps) and DeFi platforms.
Conclusion and expectations
Under current conditions, the cryptocurrency market remains positive, especially given the rise of Bitcoin, which acts as a leading asset. Ethereum could also show significant moves in the coming weeks if it can break through key resistance levels.
Bitcoin is expected to continue its rally until the end of October, and altcoins, including Ethereum, may find additional support.
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