How do you explain the October pump?

[9thsky]

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??

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[MinoRaiola]

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!

[BitMaxz]

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/

[shield132]

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).

[Hippocrypto]

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.

[Fatunad]

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.

[oktana]

There may have been other events but, I'll credit the Twitter news in which the company announced that people can now Tip content creators with Bitcoin. Considering Twitter's population, that is not just a good news for the month but for the long run too. With so many companies on Twitter, they can considering accepting Bitcoin because of Twitter's step.

[Viscore]

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.

I think its more on the demand since no other significant events that happened that time. And since the market is so unpredictable, so its always expected for the market to crash and drop down the prices, or the market to pump and seeing the prices surging. And if you are investing with the potential coins then whatever the market's situation, they will surely bounce up and give you huge profits in return.

[tippytoes]

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.

I think its more on the demand since no other significant events that happened that time. And since the market is so unpredictable, so its always expected for the market to crash and drop down the prices, or the market to pump and seeing the prices surging. And if you are investing with the potential coins then whatever the market's situation, they will surely bounce up and give you huge profits in return.

Demand that a lot of people are positively hoping about the bright future of bitcoin. We just came from a slight dump owed to China's news regarding their total banning of crypto. And yet, the market seemed unfazed with such news, instead, the market goes up. No one can explain the exact reasons why we are heading to a very good start this last quarter of the year. But just do your own thing to take advantage of this market.

[dupee419]

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).

If you'll go through Cryptopanic right now, Bitcoin enthusiasts/analysts have been speculating that the month of October will be a bullish season, though just like us, they don't have any proof or evidence to back their statements up, therefore, there's no clear explanation onto why the month of October is the month of the bulls, meanwhile, in Twitter-verse, I haven't found any tweet from influencers that is actually 'moving',  so it is also possible that the reason may be FUD.

[Kong Hey Pakboy]

It's unusual, that's the only explanation there is, October is supposed to be a really bad month for crypto but it seems that people seems to be so positive about this month which could be a good indicator to be cautious in treading the market as it can be a trap.

[Poker Player]

... October is supposed to be a really bad month for crypto ...

?

Why?

Bitcoin's short history is not like to establish that such a month is good or bad for the price. That of the stock market is longer and one could speak with more propriety but even so.

In the short history, September would be a bad month, but October would not be so bad, so I don't know where you get that from.

As for the OP's question, I wouldn't get my head too hot. It's a supply and demand issue, as you have pointed out before, and that we haven't had FUD this month.

[hello_good_sir]

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??

Why do we need to give reasons for even single price movement?

The answer that you will get, more often than not, is just going to be a combination of coincidence and normal market fluctuations.

People like to bring up all sorts of infographics to prove their point that some months perform better than others for crypto, but all of this could literally be due to chance and nothing else. If there was to be a relationship between what month it is and bitcoin price then wouldn't you think that people would trade the hell out of it already?

[pooya87]

The reverse bubble is starting to burst.

The drop that we had a couple of months ago and price went below $60k, was purely due to manipulation and the FUD campaign lasted a very long time spending millions of dollars to keep the price low. But like any other market manipulation it couldn't last forever, the artificial low price has to end at some point. Now is the time.

[Kemarit]

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 is a good news coming from US regulators saying that they are not going to ban crypto.

And then there are like 4 ETF this October that is lining up to be approved or rejected.

So this news was very positive for bitcoin enthusiast that they FOMO, pour a lot of money in the market, pushing to the levels above the last higher high of $52k.

Now we are looking for a new all time high this year.

[Dave1]

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??

Why do we need to give reasons for even single price movement?

Just normal to ask for reasons though, maybe the OP wanted to understand how the market works in a pump and dump scenario.

The answer that you will get, more often than not, is just going to be a combination of coincidence and normal market fluctuations.

Yes, maybe you can go back to the basic law of supply and demand as reasons.

People like to bring up all sorts of infographics to prove their point that some months perform better than others for crypto, but all of this could literally be due to chance and nothing else. If there was to be a relationship between what month it is and bitcoin price then wouldn't you think that people would trade the hell out of it already?

Well numbers don't like, September historically was a bad month. And October was the start of a bounce back and recovery.

[virasog]

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??

The big question is whether this October pump will be able to sustain ? After every pump there is a 15-20% correction and this is important to see when and how big the correction will be ?
Many analyst are saying that there will be a correction near 15th of October. I wonder how they analyze this ?

[palle11]

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.

September wasn't suppose to be a dip going with 2017 experience that had a huge volatility. But it happened that way and the opening of October began a tremendous steady growth.
I think the October bull may continue because of the volatility of the end of the year. Bitcoin has shown to be unstoppable since last year when covid-19 changed the economic atmosphere of the world.

[aoluain]

Historically September has not been a great month for Bitcoins price. and the final
quarter of this year like in 2017 will be where big growth in prices will come.

Possibly these two points had a bearing on the price as well as @pooya87 says in his post.

Bitcoins pricing can be like self fulfilling prophesies.

[cryptomaniac_xxx]

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??

The big question is whether this October pump will be able to sustain ? After every pump there is a 15-20% correction and this is important to see when and how big the correction will be ?
Many analyst are saying that there will be a correction near 15th of October. I wonder how they analyze this ?

It's obvious that at some point, there will be corrections, by I wouldn't say it will be in the 15th, more likely it will be in the 24th-26th, as every month bitcoin futures will expire, and historically it will create a dump.

Probably there is some technical analysis that can explain the pump that we are seeing.

Or maybe investors are pouring money because they are anticipating a push in December, a 6 digit price target.