Bitcoin was supposedly due for a recovery rally in the traditionally bullish October. However, this has not yet happened, as sophisticated investors continue to invest in the United States dollar (USD). The dollar has consistently been the most sought-after asset since July thanks to the Federal Reserve's continued efforts to control inflation with unusually large interest rate hikes that have raised the benchmark interest rate by 300 basis points in six months. The tightening of the Fed's policy has dealt tangible risky assets, including cryptocurrencies, and led to a rise in the dollar.
The main altcoin failed to gain a foothold at the psychological mark of $1.300. The price of the token has fallen by 5% over the past two weeks. It lost 2.5% in a day, the decline in two weeks was more than 5%. Token is trading at around $1.290. Over the past month, the token was trading in the range of $1.200 - $1.400, gradually approaching the lower limit.
Ripple fell 3% to $0.45, Cardano dropped 3.1% to $0.35 and Solana fell 2.8% to $29.75. The total market capitalization decreased by 1.9% over the day to $956 billion.
The Fed's rate hike cycle could end in February, paving the way for markets to cut or sell the dollar. However, the chances of such a development of events are vanishingly small. The relative economic strength and energy self-sufficiency of the US may continue to stimulate demand for the dollar even after the Fed stops raising rates. In addition, seasonal trends show that the first quarter is usually positive for the dollar. Coincidentally, Bitcoin's previous bull cycles peaked in December, paving the way for a price crash in the first quarter. And while the bear market of 2018 calmed down in the last month of the year, the bulls remained at the helm in the first three months of 2019 - a seasonally bullish period for the dollar.
Against this background, investors need to invest fiat and cryptocurrency assets in projects that provide a stable income that obviously exceeds inflationary expectations and does not fall under any sanctions, blocking and confiscation. The ASTL project is a simple and elegant solution for potential investors - an investment in the development of the real sector of a diversified portfolio of cryptocurrencies, with a fairly high ROI (up to 18%) with payments in stablecoin (USDT).
In addition, from 17.10 to 23.10, the ASTL investment project is holding a promotion in honor of the first half of the successful work of the investment project. This week we are giving you a unique opportunity to receive an additional bonus to the accrual of tokens corresponding to your initial investment. That is, we immediately increase the amount you invested in ASTL by 5%. More information about the proposals of the ASTL investment project can be found on the website https://astl.io.
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