How do you explain the October pump?

[7788bitcoin]

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.

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[Silberman]

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.

[jostorres]

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.

[Kasabus]

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.

[FanEagle]

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.

[Slow death]

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

[Rajamuda]

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.

[Dhaniii]

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.

[jaberwock]

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.

[davis196]

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.

[traderethereum]

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.

[arwin100]

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.

[gleisson05]

"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).

[poldanmig]

"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.

[BITCOIN4X]

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.

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.

[coupable]

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.

[darkangelosme]

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.

[bbc.reporter]

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.

[geegaw]

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.

[Silberman]

"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.