How do you explain the October pump? - page 2.

el kaka22

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Quote from: arufox on November 12, 2021, 10:14:12 AM

Since the beginning of October, the price of bitcoin soared to its highest level and even the creation of a new ATH. Of course, this is influenced by market sentiment which has continued to improve since it was driven by news of hedge funds controlled by several large investors. What's more, bitcoin has historically performed well in October. however, even though the bullish situation continues for bitcoin at the moment, there is still the possibility of a price correction for the rest of the year.

We could say it could be taproot, we could say it could be ETF finally starting, we could say coinbase being listed on nasdaq, we could say many many things that made it go up. But the reality is that, we just bought bitcoin, that's it. There is nothing that could be exactly one reason that causes it to go up or down, if we want to limit it to just one thing that would be us buying for it to go up, and us selling for it to go down.

However if you are looking for the underlying aspect of why then we would have to say that there are many "smaller" stuff all get together and create this. Just taproot itself is definitely not the reason it moved from all the way down from 30k to suddenly make it 60k+, however it was piece of the puzzle, then we had other stuff and other stuff and more stuff and suddenly each of them made it bigger and bigger and allowed us to be here.

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Since the beginning of October, the price of bitcoin soared to its highest level and even the creation of a new ATH. Of course, this is influenced by market sentiment which has continued to improve since it was driven by news of hedge funds controlled by several large investors. What's more, bitcoin has historically performed well in October. however, even though the bullish situation continues for bitcoin at the moment, there is still the possibility of a price correction for the rest of the year.

jaberwock

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Quote from: STT on November 08, 2021, 04:32:54 PM

The OCT pump did cease and we fell back only to 62% or so of its overall gain at 57k area and then its just risen back, that would seem bullish. Right now I'm watching price vs the 12hr average for whether we can break one of two boundaries up or down. Overall price seems strong enough to challenge any of the peak prices from spring or more recently. If I look at dollar index its just going sideways, a break there would be a bigger thing then BTC graph itself and we'd likely know which direction we take.
The most negative I can be from here on is to assume to get much higher requires us to return to the 50 week average first, failing to break that area we would likely dismiss any further hinderance from the whole 60k range.

It is a marvel that we even went up. I mean October pump was seen just as that, a pump, but now we are seeing that it is not just a pump it is a full on bull run. Breaking ATH back to back like that, first go to 67k to break 64k one, then fall a bit, then break even bigger ones and that is just insane and I can't believe how much money we are making with this bull run. I know that there are some people who may think that it is not going to be like this forever and it will crash but I am just enjoying what we are getting right now and not worried about the future.

Of course, there will be a situation where we will see it crash, but that is not today and that is why we should not focus on the doom of future that may happen for a short while, and focus on how it always recovers no matter how much it falls and we are at that great recovery right now.

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Quote from: Kadal Ijo on November 09, 2021, 10:33:31 AM

Usually the market will skyrocket at the end of the year and like a few years before the start of the bull run was in October, I was happy to see the price of bitcoin can pass ATH in April, and this will make the holders optimistic so that they will continue to buy and make the price of bitcoin continue to skyrocket.

And its more likely that we will witness another ATH for bitcoin before the year ends. As it price continues to be more expensive, then its becoming even more popular and its huge demand keeps increasing too. All this rapid pumps has started to appear in October, although this happened also within the previous years for crypto as its always seen in the last quarter of the year wherein bitcoin starts to reach its new all time highs. But with this present year, not just one ATH or maybe two or three ATH that may be possible for bitcoin to achieve. If you want to ride with this pump, its not still late to invest in bitcoin knowing it will always tend to move up despite of the market price corrections.

carlfebz2

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Quote from: Kadal Ijo on November 09, 2021, 10:33:31 AM

Usually the market will skyrocket at the end of the year and like a few years before the start of the bull run was in October, I was happy to see the price of bitcoin can pass ATH in April, and this will make the holders optimistic so that they will continue to buy and make the price of bitcoin continue to skyrocket.

Pumps now are already in random basis and if you do look on this year alone then it did happen that new ATHs did really reach out 2x of this year unlike

before that pumps do happen mostly in 4th quarter of every year but it didnt really happen but only into those times where it did make out some significant

move and pumps like this would really be that in random or no one really knows on what happened behind.You couldnt really tell on what happened.

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Usually the market will skyrocket at the end of the year and like a few years before the start of the bull run was in October, I was happy to see the price of bitcoin can pass ATH in April, and this will make the holders optimistic so that they will continue to buy and make the price of bitcoin continue to skyrocket.

Sanitough

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Quote from: Pejoh Asu on November 09, 2021, 05:53:44 AM

October was the beginning of a bull run market, bitcoin made new ATH at $67200 and now there is new ATH at $68k, and I'm sure the upward trend will continue, the market is moving high as it is now making us optimistic that in december the price can reach more than $95k, and in November it will hit ATH of around $80k.

No, I disagree, the bull market started last year when bitcoin break the $20k which was the ATH before and it continues to rise now, there are times we saw a correction but that was short and overall, what we witness is a bullish market, so definitely this is a bullish year for us and we are ending this year with maybe $100k price per 1 btc.

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October was the beginning of a bull run market, bitcoin made new ATH at $67200 and now there is new ATH at $68k, and I'm sure the upward trend will continue, the market is moving high as it is now making us optimistic that in december the price can reach more than $95k, and in November it will hit ATH of around $80k.

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The OCT pump did cease and we fell back only to 62% or so of its overall gain at 57k area and then its just risen back, that would seem bullish. Right now I'm watching price vs the 12hr average for whether we can break one of two boundaries up or down. Overall price seems strong enough to challenge any of the peak prices from spring or more recently. If I look at dollar index its just going sideways, a break there would be a bigger thing then BTC graph itself and we'd likely know which direction we take.
The most negative I can be from here on is to assume to get much higher requires us to return to the 50 week average first, failing to break that area we would likely dismiss any further hinderance from the whole 60k range.

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Quote from: bengsabeng on November 04, 2021, 05:42:46 AM

Quote from: Victorycoin on October 28, 2021, 10:50:28 PM

Quote from: Kodok Bencot on October 27, 2021, 09:34:17 AM

October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Bitcoin showed its highest record in October I agree that this is the best month for bitcoin and this year or early in the new year bitcoin will break its maximum resistance. It is difficult to say for sure how much bitcoin will go but everyone is hoping that $ 100k will go.

there are still two more months before 2021 ends, there is a possibility this month or next month bitcoin will reach a higher price than in October. I mean it's too early to say that October is the best month of 2021 because the end of the year is still two months away.

Yes, it seems that it is still too early to conclude that October is the best month in 2021. many say that the price increase that occurred in October was a warm-up before bitcoin moved to a much higher point. bitcoin price is stable in the $60k-$63k price range for quite a long time, I believe the positive trend will soon occur again and bitcoin will reach a much higher point than last month's ATH.

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Quote from: bengsabeng on November 04, 2021, 05:42:46 AM

Quote from: Victorycoin on October 28, 2021, 10:50:28 PM

Quote from: Kodok Bencot on October 27, 2021, 09:34:17 AM

October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Bitcoin showed its highest record in October I agree that this is the best month for bitcoin and this year or early in the new year bitcoin will break its maximum resistance. It is difficult to say for sure how much bitcoin will go but everyone is hoping that $ 100k will go.

there are still two more months before 2021 ends, there is a possibility this month or next month bitcoin will reach a higher price than in October. I mean it's too early to say that October is the best month of 2021 because the end of the year is still two months away.

Most of the time on which we do always presume that end quarter portion of each year we do really come into a point of presumption that the price might really go up ahead because this is on where these times which price or the entire market do really run bullish.

which i cant really blame off people on to think about this way and assumpting that possible movements might happen on these times again.

For now theres no really way on knowing on what would be the market conditions on next days or months to come.

bengsabeng

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Quote from: Victorycoin on October 28, 2021, 10:50:28 PM

Quote from: Kodok Bencot on October 27, 2021, 09:34:17 AM

October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Bitcoin showed its highest record in October I agree that this is the best month for bitcoin and this year or early in the new year bitcoin will break its maximum resistance. It is difficult to say for sure how much bitcoin will go but everyone is hoping that $ 100k will go.

there are still two more months before 2021 ends, there is a possibility this month or next month bitcoin will reach a higher price than in October. I mean it's too early to say that October is the best month of 2021 because the end of the year is still two months away.

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Quote from: noormcs5 on October 28, 2021, 11:36:45 PM

Quote from: 9thsky on October 08, 2021, 04:24:47 PM

Everyone was blaming September for the dip like it was a dip holiday and just waiting for October for the pump. And as soon as October came - and I mean literally, like the first day of October - prices started to go up and it started to pump. How??

If you look at the history, the September month is usually not so good for the crypto and normally we see a boom in the last quarter of the year.
We have seen bitcoin cross the all the high again in October and reach to 66,000$. Hopefully this trend will continue and we may see bitcoin and overall market cap rise in the last two months of 2021.

We are hitting the last quarter of the year and as histories tell, this is the most profitable days of the year. But of course, we should not be over confident with it because the market may change its trend when we least expect it. Still, we should be cautious of how the market will react.

However, regarding this october pump, i don't think there are definite reasons everytime we the see the prices of coins pumping. Remember that we have two market cycles, the bearish and bullish one. Since september and its previous months are not really good on crypto, then maybe its time for a market cycle to change, and so we start seeing a bullish market. Well, as long as the market brings profits, then that's the most important thing.

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Quote from: noormcs5 on October 28, 2021, 11:36:45 PM

Quote from: 9thsky on October 08, 2021, 04:24:47 PM

Everyone was blaming September for the dip like it was a dip holiday and just waiting for October for the pump. And as soon as October came - and I mean literally, like the first day of October - prices started to go up and it started to pump. How??

If you look at the history, the September month is usually not so good for the crypto and normally we see a boom in the last quarter of the year.

not only September also July and August are hard month each year so October as the start of last quarter are making its way completely changing course.

Quote

We have seen bitcoin cross the all the high again in October and reach to 66,000$. Hopefully this trend will continue and we may see bitcoin and overall market cap rise in the last two months of 2021.

Don't expect much because there is a Hard hit if the trend change course.

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Quote from: 9thsky on October 08, 2021, 04:24:47 PM

Everyone was blaming September for the dip like it was a dip holiday and just waiting for October for the pump. And as soon as October came - and I mean literally, like the first day of October - prices started to go up and it started to pump. How??

If you look at the history, the September month is usually not so good for the crypto and normally we see a boom in the last quarter of the year.
We have seen bitcoin cross the all the high again in October and reach to 66,000$. Hopefully this trend will continue and we may see bitcoin and overall market cap rise in the last two months of 2021.

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Quote from: Kodok Bencot on October 27, 2021, 09:34:17 AM

October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Bitcoin showed its highest record in October I agree that this is the best month for bitcoin and this year or early in the new year bitcoin will break its maximum resistance. It is difficult to say for sure how much bitcoin will go but everyone is hoping that $ 100k will go.

stomachgrowls

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Quote from: asrinur on October 28, 2021, 06:59:09 AM

In my opinion, the increase in the price of bitcoin since the beginning of October is due to the high confidence of large companies in bitcoin fundamentals so that more and more people are adopting it. This price increase also shows that the decline in Bitcoin prices that had occurred in September due to the news of China's ban on cryptocurrencies did not have a serious impact on Bitcoin prices.

Whenever we do step foot on a new month and just like on what happened in August where lots had been saying about Ghost month then prices do decline.

Is it really that much relevant? No it isnt but you cant really just avoid for people not to think about this way because any sentiment or events that do happen would have corresponding meaning and possibly be attached to the market.

Pump? No one knows on what happen behind the curtains.

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In my opinion, the increase in the price of bitcoin since the beginning of October is due to the high confidence of large companies in bitcoin fundamentals so that more and more people are adopting it. This price increase also shows that the decline in Bitcoin prices that had occurred in September due to the news of China's ban on cryptocurrencies did not have a serious impact on Bitcoin prices.

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Quote from: Kodok Bencot on October 27, 2021, 09:34:17 AM

October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Well we can call October the best month if we are going to close at the green candle. But so far after hitting all time high last week, the price goes down on a spiral mode and almost $10k has been sliced already, -8.x%.

Although there is a significant improvement from this month, as the price is still above $50k. Nevertheless, we should all look next month November as another bearish month and hopefully we can gain and have another all time high @$70k.

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October being the best month in 2021, maybe this is the start of the bitcoin pump to reach $100k in December, and I'm optimistic that new ATH will continue to happen and in November I believe the bitcoin price can reach at least $80k.

Topic: How do you explain the October pump? - page 2. (Read 1098 times)