How do you explain the October pump? - page 6.

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legendary

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

it seems to me everything indicates that someone had inside information about a possible ETF approval or simply that person must have spread information that it was almost guaranteed that the ETF will be approved and with that people started a rush to buy bitcoin, the question here is : why are people believing in a possible ETF approval and why are they buying bitcoin? The answer is simple: paypal has accepted bitcoin, other billionaires and millionaires have been talking highly of bitcoin, we've seen things El Salvador is doing, the SEC is watching all this, they're seeing bitcoin is no longer something they can ignore so accepting an ETF would be possible at this point. well even what they don't accept won't be the end of the world

FanEagle

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Quote from: ultrloa on October 11, 2021, 06:37:28 AM

Maybe the season contributes on what people feel right now, also since market showing some green signs then maybe we can speculate that this speculated figures will truly came but lets still not erase the fact that sometimes our expectation will not go as we want since sometimes there are sudden turndown since there are bad news came which is use by manipulators and hopefully we will not go into that point until the end of this year.

Manipulators will always try to do the opposite of what is going on right now. While it is going up then there is no need to manipulate it, if whales buy some more than they could end up profiting. However if they end up with a proper profit situation by working hard and reversing the situation we are in, then they could make a lot more money. I believe that we could definitely see the situation changing if manipulators take the charge.

The amount of money we are dealing with right now means they can't just manipulate with money, that would be near impossible, so they would have to just make some big news to change our ideas and the movement direction.

Kasabus

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Quote from: Silberman on October 11, 2021, 02:43:58 PM

Quote from: 9thsky on October 08, 2021, 05:24:47 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??

There are two possible reasons that I can think of, the first is the the reason the price always moves, supply and demand, and as such the fact that it happened in October is just a coincidence, the other option is that this is an example of a self-fulfilling prophecy, people believe that something will happen at a certain time and they take actions to prepare themselves for it not realizing that those actions are the ones that will lead them to follow that path.

This October pump is more likely because the people alone are more aware now that bitcoin will definitely hit its new all time high before the end of the last quarter so the demand grows instantly which contributes to the pump in the market. Or it might be there's a FOMO that investors are now rushing to invest in the market before the price becomes very bullish. Whatever it is, let's just say that its really time for the crypto market to be bullish because the previous month had witnessed a market crash that made most of the coins dump their prices.

jostorres

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Quote from: Silberman on October 11, 2021, 02:43:58 PM

people believe that something will happen at a certain time and they take actions to prepare themselves for it not realizing that those actions are the ones that will lead them to follow that path.

This can be coined as market sentiment.
When more people believe into cycle nature for a market then more than 50% of market participants will take same decision.

People are aware of halving and its consequences and then 10x growth after halving and then interest on bitcoin investments from large institution and governments. So, FOMO will come to action when more people believe into market sentiments. Unfortunately these exact sentiments are also applicable for bear market as well which is the reason why do have year long bearish market after 10x growth in every 4 year cycle.

Silberman

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

There are two possible reasons that I can think of, the first is the the reason the price always moves, supply and demand, and as such the fact that it happened in October is just a coincidence, the other option is that this is an example of a self-fulfilling prophecy, people believe that something will happen at a certain time and they take actions to prepare themselves for it not realizing that those actions are the ones that will lead them to follow that path.

7788bitcoin

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Quote from: The Cryptovator on October 11, 2021, 09:57:55 AM

The reason for the increased price of Bitcoin is FOMO now. I am not sure if you have been noticing or not but you might notice from now, whenever you see a lot of positive news about Bitcoin then definitely the price of Bitcoin will grow. So in the current month have seen a lot of positive news like the US doesn't want to ban crypto, El Salvador adopting Bitcoin, ETF approvals, and a lot more. This is the exact reason, and as far as we know it few institutional investors are jumping into it, so all over the situation is pretty good to pump Bitcoin. I'm not sure how long it will last but that is how actually currency prices grow.

There was a difference when El Salvador implemented Bitcoin as their legal currency, the entire cryptocurrency market went down drastically, it is hard to predict why the market would perform in either direction. The thing i notice is that during certain months the market would go down and during a bull run, usually the month of September the master usually goes down and then from October onwards the market usually rallies till the end of the year and that is what we are seeing now. We can come up with any reason and that is what the news outlet usually comes out with and majority of the time i feel like made up reasons.

Vaskiy

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Quote from: The Cryptovator on October 11, 2021, 09:57:55 AM

The reason for the increased price of Bitcoin is FOMO now. I am not sure if you have been noticing or not but you might notice from now, whenever you see a lot of positive news about Bitcoin then definitely the price of Bitcoin will grow. So in the current month have seen a lot of positive news like the US doesn't want to ban crypto, El Salvador adopting Bitcoin, ETF approvals, and a lot more. This is the exact reason, and as far as we know it few institutional investors are jumping into it, so all over the situation is pretty good to pump Bitcoin. I'm not sure how long it will last but that is how actually currency prices grow.

Agreed, apart from those mentioned, the market is getting widened. Institutional investors are getting into the bitcoin in big numbers. This contributes a specific percentage, whereas the common man participation has increased massively. In every country the cryptocurrency user number have increased compared to the previous year. The positive news around and common people's wider view about technology too making a change in the market trend.

The Cryptovator

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The reason for the increased price of Bitcoin is FOMO now. I am not sure if you have been noticing or not but you might notice from now, whenever you see a lot of positive news about Bitcoin then definitely the price of Bitcoin will grow. So in the current month have seen a lot of positive news like the US doesn't want to ban crypto, El Salvador adopting Bitcoin, ETF approvals, and a lot more. This is the exact reason, and as far as we know it few institutional investors are jumping into it, so all over the situation is pretty good to pump Bitcoin. I'm not sure how long it will last but that is how actually currency prices grow.

Wind_FURY

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

Patterns? It has been that way not just in the cryptocurrency markets, but in most traditional markets as well. Each of us plebs in the forum you ask would give you a different reason, or what to “believe”, but I believe, it has become a like self-fulfilling prophecy. Because it is expected that September would be down, then investors and traders bid lower, or avoid the market.

ultrloa

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Quote from: RealMalatesta on October 10, 2021, 03:23:38 AM

Quote from: 9thsky on October 08, 2021, 05:24:47 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??

Because, market sentiment. When everyone is expecting a pump then FOMO comes to play. When people are getting used to see something for more than one time then they will expect the same to be repeating and when more than 50% of people start believing into that, then that will happen for sure.

Maybe the season contributes on what people feel right now, also since market showing some green signs then maybe we can speculate that this speculated figures will truly came but lets still not erase the fact that sometimes our expectation will not go as we want since sometimes there are sudden turndown since there are bad news came which is use by manipulators and hopefully we will not go into that point until the end of this year.

RealMalatesta

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

Because, market sentiment. When everyone is expecting a pump then FOMO comes to play. When people are getting used to see something for more than one time then they will expect the same to be repeating and when more than 50% of people start believing into that, then that will happen for sure.

For example, bitcoin's 4 year long cycle and after having 10x growth are that kind of things which are believed by more than 50% of bitcoiners hence market sentiment is adopting it. Same thing applies to 70% downfall after the 10x growth as well become part of market sentiment for similar reasons.

bitterguy28

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

Mostly it is the Last quarter season why the growth is happening in this time , also many people feels the Christmas holiday and has funds from bonuses and other areas of profiteering and they are putting inside crypto , and of course the whale in which going with the flow for possible manipulation.
so what we need to do? be aware of possible Pump and dump so be careful .

Victorycoin

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Bitcoin is currently trading above support after being rejected at resistance heights previously, this pair was successfully promoted after the return the creation of new ATH will reform the market for which the amount of investment is increasing. Bulls and bears are competing for prices if the bear holds the current, bitcoin may return to its former height also the complete opposite can happen breaking all the resistance will reach a higher position.

adaseb

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Another reason why it’s pumping is because there is a very good chance that an ETF might be finally approved. This isn’t like 2017-2018 when every single ETF was denied. This is different because the ETF won’t be based on real bitcoins but Bitcoin futures. It will be pretty much just like the Crude Oil ETF which just follows the futures with its contango.

I think that there is some leaked news already since we had a crazy spike recently. Maybe somebody leaked the news to a few people. Also there seems to be a premium again on the CME futures which is usually very little. So somebody out there expects it to be approved.

Oasisman

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Quote from: 9thsky on October 08, 2021, 05:24:47 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??

In a simple explanation, Bitcoin isn't just a currency but also a highly speculative asset. Trends, rumors, FUDs, and even bullish prediction could always have a huge contribution on the current price.
October has always been speculated as the start of the bull season as it literally sits in the first month of the 4th quarter. Now, that will also depends on the news and developments that has been disseminated through the social media and internet.

7788bitcoin

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Quote from: 9thsky on October 08, 2021, 05:24:47 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 past graphs you will understand how the market would perform every month and we have around a decade of data to compare now and you will find that every September the market would be dull and then the final two months the market would rally and everyone who are aware of that was expecting the market to rally and we started to rally, still majority are expecting the market to cross the hundred thousand valuation and hopefully we will see that.

freedomgo

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Quote from: beerlover on October 09, 2021, 04:16:41 PM

We don't have to "explain" it honestly. It is another pump, we have pumps in crypto, this is not the first and certainly it will not be the last. There is no need to put a label on it or find a reason for it because bitcoin and crpto will always have pumps like we had in the past 10 days. If you are not sure about why this happened, and want to know how it happened, so that you could get ready for the next one, then the only thing you need to check is the bear periods.

Whenever bitcoin crashes, it will always stop at some price and then wait there for a while then in a week it will skyrocket, this has been the case for a long time, no matter what the reason given to people would be. So if you see the price crash again one day, and starts staying at a certain level, buy at that level and then wait for it to skyrocket because it will happen.

Indeed. There's always pumps and dumps in crypto so expect that if there's a dump at the moment, the next thing will happen will be a pump in the market. Yes, it don't need any reason either like positive news or any events that create a huge impact, as long as the market shows momentum to go on a bullish market, then the market will definitely be greenish. Either way, a market crash is also expected every now and then so better prepare for it so that you can buy potential coins the moment they become affordable.

beerlover

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We don't have to "explain" it honestly. It is another pump, we have pumps in crypto, this is not the first and certainly it will not be the last. There is no need to put a label on it or find a reason for it because bitcoin and crpto will always have pumps like we had in the past 10 days. If you are not sure about why this happened, and want to know how it happened, so that you could get ready for the next one, then the only thing you need to check is the bear periods.

Whenever bitcoin crashes, it will always stop at some price and then wait there for a while then in a week it will skyrocket, this has been the case for a long time, no matter what the reason given to people would be. So if you see the price crash again one day, and starts staying at a certain level, buy at that level and then wait for it to skyrocket because it will happen.

ultrloa

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Quote from: Wexnident on October 09, 2021, 10:25:05 AM

Well I guess its the usual supply demand? Timing wise it does sound weird but hey, it's the crypto market, we can't exactly have a solid explanation for each movement and could only assume most of the time. I guess you could attribute it as well to the people who are saying that October would be a good month, it may or may not have spread to others no?

Besides, the market doesn't exactly need a specific reason for it to pump or dump. It is what it is imo.

Sometimes the belief of the people contributes about how situation goes and since bitcoin mostly pumps at ber monthd many speculates that this scenario will happen again thatz why we see the majority stated and hold bitcoin at the moment. But we don't know on when this rally end up so what important their is we should take our capital if theirs a chance to do it and stake then roll the profit to earn more income from it.

Wexnident

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Well I guess its the usual supply demand? Timing wise it does sound weird but hey, it's the crypto market, we can't exactly have a solid explanation for each movement and could only assume most of the time. I guess you could attribute it as well to the people who are saying that October would be a good month, it may or may not have spread to others no?

Besides, the market doesn't exactly need a specific reason for it to pump or dump. It is what it is imo.

Topic: How do you explain the October pump? - page 6. (Read 1024 times)