How do you explain the October pump?

[OgNasty]

Bitcoin is often declared dead and has been throughout it’s history. It is only fitting that the market rallies into the Day of the Dead every year. Make sure to celebrate El Dia De Los Muertes this year and give thanks to Bitcoin for continuing to rise from the ashes time and time again.

[chaser15]

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??

Let's see. It was all started when Bitcoin successfully withstands the attempt to lower it to $30,000. The bearish activity is not that strong to pull down bitcoin below that level. It was also didn't affect some of the altcoins and honestly, you can some altcoins establishing over a 100% price increase. It means it's not a bloodbath to consider what happened last month but just a testing performance and the result is the bull market we now experiencing this month.

But enough for analysis, we just have to continue buying our preferred coin as much as we can.

[buwaytress]

Not "everybody" was blaming September though. I was pretty much a happy camper, I mean, we barely touched levels below $40k, still more than twice the price we were at last December, and 3 to 4 times up a year ago. Not many bargain stops left en route to 100k, so if you knew how to stop and smell the roses, you'd have bought up or held happily.

As to Uptober? Never needed a reason or explanation. Every rally that's happening, every step of the way to 100,000 -- it's always been a matter of time. Fundamentals. Market conditions. They ebb and flow but inch their way towards the inevitable.

[michellee]

I do not blame September for the dip and consider that the market will always like that. There will be an increase and decrease and that is normal to the crypto market. Maybe the crypto market is getting more support or more people want to buy the coin, especially buying bitcoin at a low price, which makes the price rally to the higher price. We do not know how what is behind that pump and guess that with making many predictions but it is not easy to know the right reason why the pump comes on the first day of October. I prefer to enjoy every moment that happens in the market and use that for our benefit.

[ILuckyGuyI]

I can explain the current high increase in the market like this: high volatility in the price. People are looking for special reasons but this market doesn't need that kind of reasons anymore. Even the volatility rate is enough for the market to go up very highly. September was the worst like in the past years. But October seems like determined to make up for it. And I hope that we can see a bull market also in this year. The cryptocurrency market doesn't need a reason for that to happen too.

[Fatunad]

Bitcoin is often declared dead and has been throughout it’s history. It is only fitting that the market rallies into the Day of the Dead every year. Make sure to celebrate El Dia De Los Muertes this year and give thanks to Bitcoin for continuing to rise from the ashes time and time again.

Those "Dead" words do usually come out and would be a common word that could be seen or heard out on this market whenever bitcoins price is going or dipping down.Im not really believing into those
things about certain months does have particular significance that could really tell on what should be the price about whether its a bullish or bearish month.No one could ever tell
and these kind of calls like October pump or particular months which is bearish then people do always love on attaching things up basing on what they are currently seeing or experiencing.

[Wexnident]

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.

[ultrloa]

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.

[beerlover]

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.

[freedomgo]

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.

[7788bitcoin]

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.

[Oasisman]

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.

[adaseb]

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.

[Victorycoin]

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.

[bitterguy28]

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 .

[RealMalatesta]

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.

[ultrloa]

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.

[Wind_FURY]

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.

[The Cryptovator]

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.

[Vaskiy]

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.