How do you explain the October pump? - page 5.

elisabetheva

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September has historically been a weak month for Bitcoin. In October, there was often a pump, by the way, in 2017 everything was exactly the same. September is bad, October is good. But something else worries me now. The pump to 62,000 actually happened not because something was approved there, but because it became known that Bitcoin ETFs could soon be approved. Moreover, open interest is growing, the financing rate is growing, and the leverage used in the derivatives markets is also growing. I fear that in October there may be a short-term correction, 15 percent, before going to ATH. Take a look at the daily chart, a sharp spire with almost no pullbacks, solid rallies. Longs can meet short-term resistance.

Actually there are two patterns that are the same this year as 2013 and 2017, only the exact same pattern seen since September is 2017 as you said.
2021 September -7.03%
2017 September -7.44%
2013 September -1.76%
but in october 2013 it increased +60.79% and 2017 +47.81% if it is true what you say is the same as 2017 then we can be sure that ATH will occur in december.

as you said that there will be a short correction in October, whether it will really happen, it will still not affect that bitcoin will reach renewable ATH, so there is no worry for all who are waiting for a good change from bitcoin that has been awaited.

samcrypto

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Quote from: snipie on October 15, 2021, 01:55:52 PM

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Maybe the Golden Cross that we have been talking about for a long period of time happened and this has been its affecs so far. Or there is no special explanation for this pump and it is just about the usual volatility of the market. And this market never needs a reason to pump or go down sharply. It just happens even when we don't expect such thing to happen.

Small signs from here and there in addition to the normal volatility of course.
Some companies announcements, ETF...etc but I think the expected ETF announcement next week? is driving the price up the most.

This is the expect of many good news and yes, that golden cross trigger the uptrend again and its really good to see Bitcoin on $62k again.
A little pullback for now but that's ok, we still have 15 days in October and I'm confident that we can make a new ATH this month. If you don't have Bitcoin yet, its not too late to buy, many good news will still come and that could push more the price of Bitcoin going up.

Ararbermas

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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??

probably it's because of some prediction of some analyst during the correction between month of september, wherein they said that the bearish will not last like what happened before, and yes it happened maybe on the first day of October a lot of investors see that there's a sign of bullish wherein reason market gradually turn into green again until it goes like this right now.. Well it's not surprising to be honest because nowadays its a bout news, i mean how the market works especially if whales ride the positive views of some crypto analyst for sure there will be a bull run..

bbc.reporter

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@Ratimov. Agreed. Let us enjoy this present pump, however, on the threat of being accused of being an antagonizer again, my message is always the same. We should also be cautious because the reality of the market is bubbles will always pop. There are people who would say I fud, I would ask them is the cryptospace markets presently not in a bubble?

Crypto-currency market is double the size of US sub-prime debt before financial crisis

The crypto-currency market is double the size of the sub-prime debt in the US on the eve of the financial crisis and poses a threat unless urgently regulated, the Bank of England (BOE) said. Crypto assets are now worth $2.3 trillion (€2 trillion), about 200 per cent more than at the start of the year. While that’s still a small part of the $250 trillion global financial system, it’s about twice the size of the $1.2 trillion sub-prime real estate debt market in 2008.

Source https://www.irishtimes.com/business/markets/crypto-currency-market-is-double-the-size-of-us-sub-prime-debt-before-financial-crisis-1.4699629

snipie

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Quote from: ?? on ??

Maybe the Golden Cross that we have been talking about for a long period of time happened and this has been its affecs so far. Or there is no special explanation for this pump and it is just about the usual volatility of the market. And this market never needs a reason to pump or go down sharply. It just happens even when we don't expect such thing to happen.

Small signs from here and there in addition to the normal volatility of course.
Some companies announcements, ETF...etc but I think the expected ETF announcement next week? is driving the price up the most.

sikke

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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??

How? Because bitcoin is just reverting to its intrinsic value.

BTC was undervalued last month, and the selloff was extremely unjustified in light of news regarding Evergrande. I'm not sure how people even came to the conclusion that bitcoin should be affected by something happening to the real estate market in China to be completely honest.

Now it's just making up for that bearish sentiment. It has nothing to do with October starting though.

Silberman

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Quote from: poldanmig on October 12, 2021, 08:22:34 AM

Quote from: gleisson05 on October 12, 2021, 07:55:38 AM

"China ban" appeared to be advantageous for crypto, eventually. First we experienced significant dip, which is always natural under the given circumstances, and then things got back on track (to the moon).

The ban from China has continued to exist from year to year, does that make bitcoin die?
Of course not, because so far the price of bitcoin has not depended on any single country in the world, even though the Chinese ban did affect the price slightly, but it is not permanent because we all know that supply and demand factors that occur in the market are the main factors for bitcoin prices.

I wonder how many times they can keep banning bitcoin, they have been doing so almost like clockwork every year and every time people react in the same way, not realizing that with each move like this the government of China losses their influence over the market and as time passes it is going down more and more, so I really expect that next year when we see China banning bitcoin again then the effects are going to be slightly lower than what we saw this year.

geegaw

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Quote from: darkangelosme on October 12, 2021, 07:53:32 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??

For me i think it is cause by some whales for people to think that it is a bullish season already, i don't think it will last until November, so it is the right time to to think twice.

The engineers for this bull season are probably abandoned whales in China, after bad debt reduced the economic optimism, they have been compensated with another mental shock about the future sentencing with the crypto model, in the situation of forcing the early liquidation of projects that have not yet reached the standard, the pump is the result of this compulsion. But maybe as you say, the pace of the market is just being supported by a cheap shelf, when the weight increases by a few beats, the zero gravity fall environment will be present.

bbc.reporter

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This October pump might only be the usual market activity of buy the rumor, sell the news hehehe. There are 4 ETF applications that are pending for approval for this month. The first will be on Monday, October 18 and another on October 19 then for the other 2 on October 25.

darkangelosme

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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??

For me i think it is cause by some whales for people to think that it is a bullish season already, i don't think it will last until November, so it is the right time to to think twice.

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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??

ou will get many speculative opinions about your querry.
Personally, I can set two reasons for this ;
First is about the Ban made by Chineese authorities over all form of cryptocurrency use. People remember how the price reach all time high twice right after a Ban made also by China and some other goves back in 2017 and 2013. Second, is that Twitter announced the lunch of the new feature of rewarding users with Lightening network channels. This news had to pump the price to higher stages but infortunetly it was announced in the same day China enforced the Ban for crypto use.

BITCOIN4X

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Bitcoin is gaining strong FOMO after several correction from April to September. I actually didn't expect the bitcoin price this October to soar to almost reach the previous ATH at the $64K level. Obviously this is not a game of whales but the desire of traders and investors to make the demand for bitcoin increase and this FOMO has led most people to believe that bitcoin will surpass ATH. It's very close now and we'll just have to wait until the end of October.

Quote from: poldanmig on October 12, 2021, 08:22:34 AM

The ban from China has continued to exist from year to year, does that make bitcoin die?

No, China was just a FUD for bitcoin but it didn't last much longer because the investors' support and the trust of bitcoin users had managed to break through the resistance and in the end China's FUD didn't last.

poldanmig

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Quote from: gleisson05 on October 12, 2021, 07:55:38 AM

"China ban" appeared to be advantageous for crypto, eventually. First we experienced significant dip, which is always natural under the given circumstances, and then things got back on track (to the moon).

The ban from China has continued to exist from year to year, does that make bitcoin die?
Of course not, because so far the price of bitcoin has not depended on any single country in the world, even though the Chinese ban did affect the price slightly, but it is not permanent because we all know that supply and demand factors that occur in the market are the main factors for bitcoin prices.

gleisson05

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"China ban" appeared to be advantageous for crypto, eventually. First we experienced significant dip, which is always natural under the given circumstances, and then things got back on track (to the moon).

arwin100

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Quote from: davis196 on October 12, 2021, 05:53:29 AM

Many traders were expecting the China FUD to dump the Bitcoin price.This didn't happen,which made the traders very optimistic.This can be combined with the positive news coming from the USA,stating that there are no plans to ban Bitcoin.I don't think that the news about Twitter had such an impact over the Bitcoin price.
I guess that the current price pump is caused by a "snowball effect" like all the price pumps before.
Traders start buying BTC,the price goes up,more traders start buying because of FOMO and the ball keeps rolling.This makes me feel that we are in a FOMO phase and Bitcoin price is forming a bubble.

It move the market a little bit but this one didn't create any huge damage to the price since after the dump the pump slowly coming back again since many people realize that this is only a fud which the main intention is to earn from the panic of the people. And since we are now starting to pump up again for sure many people nor are in FOMO since the discussion towards 6 digits new ATH is rolling back again so let see how we will end up at the end of this year.

traderethereum

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You do not have to be surprised to see what happens on the first day of October because that pump can come anytime and we already saw the pump came again a few days ago.
So if in September we saw the dip and we see the pump in this month, that is normal because the price will not stay at one position forever.
This pump gives us a chance to make a profit and many of us already make a big profit from the pump so we should use enjoy the moment.
Maybe in the next two months later, we will see another pump for bitcoin or altcoin so better you prepare yourself by placing your order sell at the price you want.

davis196

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Many traders were expecting the China FUD to dump the Bitcoin price.This didn't happen,which made the traders very optimistic.This can be combined with the positive news coming from the USA,stating that there are no plans to ban Bitcoin.I don't think that the news about Twitter had such an impact over the Bitcoin price.
I guess that the current price pump is caused by a "snowball effect" like all the price pumps before.
Traders start buying BTC,the price goes up,more traders start buying because of FOMO and the ball keeps rolling.This makes me feel that we are in a FOMO phase and Bitcoin price is forming a bubble.

jaberwock

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Quote from: Rajamuda on October 11, 2021, 10:08:57 PM

It happened so naturally, maybe their predictions or speculations... coincidentally in the right and correct predictions, other influences can push prices up in early October.
Everything is uncertain but some implications speak that it could push Bitcoin higher this October.
Basically, we really have to be able to examine patterns that keep happening from time to time, sometimes it can add predictive material when taking steps in investing or trading. After a decline there will definitely be a strong rise, we are currently in an uptrend, and know how to deal with the volatile character of Bitcoin itself and other coins in the market.

It always happens naturally, all those news and stuff are just things that make it interesting for a while and that's it, we do not get to see those kinds of things too much. Every up and down happens because people end up buying or selling more and all the other parts like news or manipulations or whales or whatever all are just way of making people change their ideas and that's it. I personally do not even take a look at them, I look at the price and I make my moves based on that. If the price drops too much then I will end up buying a ton (as much as I can afford to) and whenever it goes up then I just stop buying and start watching it.

Dhaniii

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Quote from: Rajamuda on October 11, 2021, 10:08:57 PM

It happened so naturally, maybe their predictions or speculations... coincidentally in the right and correct predictions, other influences can push prices up in early October.
Everything is uncertain but some implications speak that it could push Bitcoin higher this October.
Basically, we really have to be able to examine patterns that keep happening from time to time, sometimes it can add predictive material when taking steps in investing or trading. After a decline there will definitely be a strong rise, we are currently in an uptrend, and know how to deal with the volatile character of Bitcoin itself and other coins in the market.

Bitcoin is in a volatile market in the current uptrend position. We see bitcoin leading the market today as evidenced by bitcoin's dominance reaching its highest level in recent months. October was the highest level after last April before a price correction occurred with the previous highest level of $62k/coin. looks like bitcoin will break through the $60k market again next week.

Rajamuda

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It happened so naturally, maybe their predictions or speculations... coincidentally in the right and correct predictions, other influences can push prices up in early October.
Everything is uncertain but some implications speak that it could push Bitcoin higher this October.
Basically, we really have to be able to examine patterns that keep happening from time to time, sometimes it can add predictive material when taking steps in investing or trading. After a decline there will definitely be a strong rise, we are currently in an uptrend, and know how to deal with the volatile character of Bitcoin itself and other coins in the market.

Topic: How do you explain the October pump? - page 5. (Read 1095 times)