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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Altcoins – American Wrap 20 October

Bitcoin price did not need fake Spot BTC ETF news to break $29,000 barrier

Bitcoin (BTC) price has recorded higher highs and higher lows over the past week, beginning October 12, amid growing buying pressure. On October 16, the price exploded with a significant margin, coming on the back of what proved to be false reports, but investors have not relented.
Major cryptocurrencies spiked as much as 13% as a bump in Bitcoin (BTC) led to an overall rise in crypto markets, buoyed by hopes of a spot bitcoin exchange-traded fund (ETF) approval.
 
Bitcoin's dominance, which has reached the highest level in 2023, above 52%, is signalling a challenging phase for altcoins. While most altcoins are struggling to gain momentum, some analysts believe that this might be the leg of the bear cycle if history repeats.
 

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