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PBoC sets USD/CNY reference rate at 7.1059 vs. 7.2011 Reuters estimates
Source Fxstreet
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1059 as compared to 7.2011 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?