October is here and it’s time for your Crypto Outlook provided by Contentworks, an agency specializing in financial services marketing.
September was a mixed month for cryptocurrencies. The month started with the major currencies falling sharply against the dollar. Bitcoin, Ethereum, Litecoin and Ripple dropped to monthly lows of $6,100, $167, $47, and $0.2545 respectively. They then recovered substantially and BTC, ETH, XRP, and LTC ended the month at $6,500, $228, $60.19, and $0.55 respectively.
The market capitalization of the 100 biggest currencies shrank to a monthly low of $186 billion and ended the month above $220 billion. The biggest news of the month was the hacking of a major exchange in Japan where more than $60 million was lost. September will be an important month for the currencies because traders will want to see whether the upward trend will continue.