Bitcoin ended last month up more than 7.5% and experts believe the momentum will continue as October historically tends to be the strongest month for the largest cryptocurrency by market cap.
“October is a period where liquidity returns to markets after a summer lull and companies position themselves for end-of-year earnings reports,” as per James Davies – the chief executive of Crypto Valley Exchange.
And as the price of BTC pushes further up in the months ahead, chances are that other cryptocurrencies particularly the newer ones with explosive potential like Dogizen will rally in tandem.
A weaker USD may be a boon for Dogizen
Earlier this week, the US Bureau of Labour Statistics said inflation was up more than expected in September that made investors wonder if the Fed could now decide against cutting rates further next month.
But the probability of the next rate cut in November still sits at a whopping 94%, as per the CME Group’s FedWatch tool. Continued rate cuts will serve as a particularly big tailwind for Bitcoin as central banks from all over the world typically follow the Federal Reserve in its stead.
“I don’t think we should underestimate how big this is … we’ve seen the weaker dollar trend and that is here to stay. That means a lot of risk assets and crypto alongside it are going to perform well,” according to David Duong – the head of institutional research at Coinbase.
So, as capital flows out of bonds and savings accounts due to a weaker USD, part of it may flow into the likes of Dogizen in pursuit of higher returns. Click here to learn more about the native Treatz meme coin.
What geopolitical conflicts may mean for Treatz
Bitcoin and cryptocurrencies at large look particularly well-positioned for gains at writing because of the rising geopolitical risks (both in Europe and the Middle East).
Investors tend to look for alternative stores of value in times of economic instability. Some of them may even see Bitcoin as a hedge during times of war, which, by extension, could benefit Dogizen as well.
Dogizen has recently launched a game to engage its community comprising thousands of members and has plans of introducing newer forms of entertainment and exclusive rewards for its early investors as well.
Its ongoing presale has raised more than half-a-million-dollars within days, indicating strong demand that all too often hints at an investment with significant future potential. You can find out more about the native Treatz meme coin on this link.
The post October is historically a good month for crypto: could Dogizen benefit? appeared first on Invezz
