LYKKE
Friday
18 Oct

🌥️ A timid sun will shine over Bitcoin, Ether, Binance Coin and Ripple’s XRP in the next 24 hours, indicating slightly bullish market conditions. Drizzle will linger over Cardano, Dogecoin and Litecoin, signaling slightly bearish market conditions.

🌧️ Over a one-week time horizon, rain will sweep in and fall over Bitcoin, Ether and Solana, translating into a bearish trend.


The trading signals available at 7:00 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies trade mixed, with Bitcoin trading at $68,000

The cryptocurrency trend was mixed over the past 24 hours, with Bitcoin trading just below $68,000. Investor sentiment remains strong, boosted by leading US stock market indices reaching all-time highs.

Meanwhile inflows into the 12 spot Bitcoin exchange traded funds (ETFs) continued unabated with more than $2 billion in new assets over the past five trading days.

“That’s about what physical gold ETFs have taken in over past year,” the co-founder of the ETF Institute, Nate Geraci, noted.

With the release of third-quarter earnings, the Bitcoin holdings of listed companies is now being disclosed. A regulatory filing for instance showed that Wall Street giant, Morgan Stanley, holds a Bitcoin ETF position valued at $272 million.

The price of Bitcoin put on 0.6 percent to $67,718 over the past 24 hours, and is up 12 percent over the past week, Trading View’s Bitcoin chart shows.

“With the [US presidential] election just 17 days away, institutional investors are preparing their buy orders, ready to act once the outcome is clear,” 10xResearch writes in its daily comment, adding markets are bracing for a potential Republican victory.

US regulator appeals Ripple ruling

The Securities and Exchange Commission (SEC) filed an appeal against a ruling dating back to July 2023 stating Ripple Labs’ sales of its cryptocurrency XRP do not qualify as securities when sold to retail investors. The regulator contests the court's decision that XRP sales on digital platforms, personal sales by its CEO Brad Garlinghouse and co-founder Chris Larsen, and non-cash XRP distributions in exchange for services did not violate securities laws.

Ripple’s Chief Legal Officer, Stuart Alderoty announced that Ripple will file a Form C, a form required to ensure transparence for investors, next week.

The price of XRP fell 2.9 percent to $0.54 over the past 24 hours.

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DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.