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PBOC sets USD/CNY reference rate at 7.0830 vs. 7.0723 previous
Source Fxstreet
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.0830, as compared to the previous day's fix of 7.0723 and 7.0840 Reuters estimates.
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Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
The crypto market has been turbulent in October, with altcoin market capitalization dropping another 15%. Could this downturn worsen before October ends?