How do you explain the October pump? - page 8.

Fatunad

sr. member

Activity: 2226

Merit: 347

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??

No one knows! It all matters with the demand and if you do saw that Oct 1 does have some significant rise then it do varies with the demand itself because if we do look back there
were no events or big sentiments that did really happen in the market which makes this market is way too unpredictable.No one would could give out precise explanation on things
on how this market behaves in terms of price movement and thats what makes it hard to make profits but somehow it could really be handled out if you done
it well.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

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??

Many have been expecting huge pump after September, and certainly they hit the right projections. Yes! Price started to pump, but also not showing faster progressions because resistance was still making $60k harder to achieve. Also for altcoins, they've been drowning so bad while btc soars very high this October.

shield132

hero member

Activity: 2240

Merit: 867

Most of the times sudden jumps and dumps without hot tweets/news/announcements are something unexplained. After all, market is controlled by whales and small traders are nothing compared to big traders. It's just easy to manipulate with the market when you own a lot of coins and can influence the market by your trading (On Binance you can see long/short positions of top traders that's separated from overall statistics).

As mentioned above, Cryptopanic is a go to when you want to get informed as soon as possible. Also, I would follow top influencers on twitter (like Elon Musk and others whose words can seriously affect the whole market).

BitMaxz

legendary

Activity: 3290

Merit: 3011

BTC price road to $80k

The price dump last September it's because of FUD and even here there is someone spreading FUD.

Remember there are many traders who are always waiting for a dip price so it's normal that we see the price pump again.
And actually Bitcoin and crypto are always volatile so we do not know why the price today reaches $54k again.

The reason might be because of "Bitcoin ETF approved by sec" this is just news but sometimes it still has an impact on the Bitcoin price.

I would suggest you keep watch for the latest news from here https://cryptopanic.com/

MinoRaiola

legendary

Activity: 2086

Merit: 1566

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??

Speculative can now be very strong. On 24 September came the news with Twitter and Bitcoin. The pump could have come there, but it did not happen. Only after 6 days it go over in the pump Uptober! It is one of many speculation. Probably it was a decision of few people to invest a lot of money. Or it is Bitcoin and the strength that is now finally understood by all!

9thsky

member

Activity: 240

Merit: 54

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??

Topic: How do you explain the October pump? - page 8. (Read 1033 times)