Despite continuous turbulence in traditional markets, Bitcoin recorded its 16th day in a row of trading below the $20,000.

The price of Bitcoin (BTC), the biggest cryptocurrency by market capitalization, was around $19,470 at the time of writing. By 0.5%, the CoinDesk Market Index increased.

When opposed to traditional markets, which were volatile this week due to rumors about the Federal Reserve's plans, the typically high-volatility crypto market this week stayed remarkably calm.

The Federal Open Market Committee (FOMC) is expected to increase interest rates by another 50 basis points (or 0.50 percentage point) in December, according to the CME FedWatch tool, even though the Fed is anticipated to raise rates by another 75 basis points (0.75 percentage point) during its upcoming meeting on November 2-3. According to officials, such a downshift may be necessary to avoid overtightening.

The political upheaval in the UK and what appeared to be a move by the Japanese government to support the weak yen of the nation also contributed to the turbulence in traditional markets. According to data, the 30-day price volatility of bitcoin is currently roughly comparable to that of the British pound.

Investors are debating the best course of action for bitcoin in this market, or even beginning to concentrate on the far future, such as the next halving of the Bitcoin network.

According to JB Graftieaux, CEO of cryptocurrency exchange Bitstamp, "traditionally steady long-term investments like government bonds have seen prices moving drastically and generally losing value." "Investors willing to make a long-term investment may very well perceive a lot of value in crypto assets."