Cryptocurrencies bitcoin and ethereum grew overnight

The value of the flagship cryptocurrencies has risen over the past 24 hours, increasing the capitalization of the entire cryptocurrency market. At the time of writing, BTC is trading at $ 19,759, having added 2.87% to its value. As for ETH, its value has increased by 3.57%, and it is currently trading at $ 1338.

In addition to bitcoin and ethereum, other digital assets also grew, with the XRP cryptocurrency rising by 3.67% to $ 0.4576. Solana (SOL) also showed positive changes, rising by 3.95%, at the time of writing, SOL is trading at $ 33.50. Among the popular cryptocurrencies, the Polygon token (MATIC) managed to grow the most, by 6.09%. Currently, MATIC’s price is $ 0.8157.

It seems that the expected October growth, which analysts talked about over the weekend, has begun in the cryptocurrency market. Thus, crypto expert Jim Wyckoff predicted a significant increase in bitcoin in the next 30 days. His positive outlook for the value of the Cryptocurrency was based on the annual trend — October is usually successful for bitcoin and, accordingly, for the entire cryptocurrency market. Therefore, we can expect greater investor interest due to the psychological stimulus, Wyckoff emphasized at the time.

As a reminder, some cryptocurrency analysts and social media users believe that October 7, 2022 will be a key day for the cryptocurrency market this week. It is on this day that the US authorities will announce updated data on the unemployment rate and information on public employment in the country. These factors will determine how much the Federal Reserve will raise interest rates in November 2022. Social media suggests that rates will be increased by 50 basis points, but everyone is waiting for official statements from the agency. Recently, the cryptocurrency market has been reacting extremely strongly to the statements of Fed Chairman Jerome Powell, with rates of flagship digital assets and leading altcoins falling sharply.