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Cryptocurrencies Price Prediction: Bitcoin, BNB & Crypto – European Wrap 1 November

Cryptocurrencies Price Prediction: Bitcoin, BNB & Crypto – European Wrap 1 November
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Weekly Forecast: Run toward fresh all-time high hinges on US presidential election results

Bitcoin (BTC) rose over 2% this week until Friday, in a stellar first half of the week in which BTC was within a touching distance of a fresh all-time high followed by a significant price drop amid increasing signs of profit-taking. 

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BNB Price Forecast: BNB bulls show signs of weakness

Binance Coin (BNB) is trading slightly above $578 on Friday after being rejected at a crucial level and closing below the ascending trendline. This breakdown indicates a shift in market structure from bullish to bearish. Technical indicators also support this bearish outlook, showing a bearish crossover that suggests a possible downtrend.

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Crypto takes a step back, ready for volatility

The crypto market stumbled on the last day of October, losing over 5.5% in 24 hours as investors turned to profit-taking. The drop coincided with the stock market entering a period of high uncertainty ahead of a mix of influential events: the NFP on Friday, the US election results on Wednesday and the Fed meeting on Thursday.

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