Can Bitcoin Boost Altcoin Performance This Month?

Bitcoin‘s value is anticipated to increase from mid-October, potentially elevating altcoin prices as well. Many cryptocurrency experts have forecasted this trend, and indeed, BTC has begun to rise as predicted. While there is uncertainty about whether this upward trend will mimic the previous six-month fluctuations, signs are pointing towards a real recovery.

Will XRP and Shiba Coin Continue to Perform Well?

The surge in Bitcoin’s price has also benefited altcoins, with some experiencing gains of up to 7%. Traders feel encouraged as trading volumes climb and price movements accelerate. With three weeks remaining before the U.S. elections, historical data suggests that this period is typically favorable for cryptocurrency performance, positioning the market for a potential year-end rally.

What Are the Predictions for Dogecoin?

As of now, Shiba Coin is priced at $0.0000183, reflecting a 6.4% increase today. Holding support at $0.00001595 is encouraging, with expectations that Shiba could lead in a potential market upswing. Traders aim for the significant level at $0.00002095, looking for closures above $0.00001877 to maintain momentum.

• Bitcoin’s positive trajectory may enhance altcoin values.
• Trading volumes rising indicate trader confidence.
• Shiba Coin and Dogecoin show promising price targets.
• XRP faces legal challenges impacting its potential growth.

For XRP, the outlook appears less optimistic with a mere 4% increase and ongoing legal struggles that could extend until January. Conversely, Dogecoin has recently exhibited notable volatility, currently trading above $0.115, with targets set at closing above $0.13 to reach $0.152 and potentially rally between $0.18 and $0.23. Bitcoin currently exceeds $65,800, and a stable macroeconomic environment this week could further support altcoin positivity.