How do you explain the October pump?

[sikke]

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??

How? Because bitcoin is just reverting to its intrinsic value.

BTC was undervalued last month, and the selloff was extremely unjustified in light of news regarding Evergrande. I'm not sure how people even came to the conclusion that bitcoin should be affected by something happening to the real estate market in China to be completely honest.

Now it's just making up for that bearish sentiment. It has nothing to do with October starting though.

[snipie]

Maybe the Golden Cross that we have been talking about for a long period of time happened and this has been its affecs so far. Or there is no special explanation for this pump and it is just about the usual volatility of the market. And this market never needs a reason to pump or go down sharply. It just happens even when we don't expect such thing to happen.

Small signs from here and there in addition to the normal volatility of course.
Some companies announcements, ETF...etc but I think the expected ETF announcement next week? is driving the price up the most.

[bbc.reporter]

@Ratimov. Agreed. Let us enjoy this present pump, however, on the threat of being accused of being an antagonizer again, my message is always the same. We should also be cautious because the reality of the market is bubbles will always pop. There are people who would say I fud, I would ask them is the cryptospace markets presently not in a bubble?



Crypto-currency market is double the size of US sub-prime debt before financial crisis

The crypto-currency market is double the size of the sub-prime debt in the US on the eve of the financial crisis and poses a threat unless urgently regulated, the Bank of England (BOE) said. Crypto assets are now worth $2.3 trillion (€2 trillion), about 200 per cent more than at the start of the year. While that’s still a small part of the $250 trillion global financial system, it’s about twice the size of the $1.2 trillion sub-prime real estate debt market in 2008.

Source https://www.irishtimes.com/business/markets/crypto-currency-market-is-double-the-size-of-us-sub-prime-debt-before-financial-crisis-1.4699629

[Ararbermas]

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??

probably it's because of some prediction of some analyst during the correction between month of september, wherein they said that the bearish will not last like what happened before,  and yes it happened maybe on the first  day of October a lot of investors see that there's a sign of bullish wherein reason market gradually turn into green again until it goes like this right now.. Well it's not surprising to be honest because nowadays its a bout news, i mean how the market works especially if whales ride the positive views of some crypto analyst for sure there will be a bull run..

[samcrypto]

Maybe the Golden Cross that we have been talking about for a long period of time happened and this has been its affecs so far. Or there is no special explanation for this pump and it is just about the usual volatility of the market. And this market never needs a reason to pump or go down sharply. It just happens even when we don't expect such thing to happen.

Small signs from here and there in addition to the normal volatility of course.
Some companies announcements, ETF...etc but I think the expected ETF announcement next week? is driving the price up the most.

This is the expect of many good news and yes, that golden cross trigger the uptrend again and its really good to see Bitcoin on $62k again.
A little pullback for now but that's ok, we still have 15 days in October and I'm confident that we can make a new ATH this month. If you don't have Bitcoin yet, its not too late to buy, many good news will still come and that could push more the price of Bitcoin going up.

[elisabetheva]

September has historically been a weak month for Bitcoin. In October, there was often a pump, by the way, in 2017 everything was exactly the same. September is bad, October is good. But something else worries me now. The pump to 62,000 actually happened not because something was approved there, but because it became known that Bitcoin ETFs could soon be approved. Moreover, open interest is growing, the financing rate is growing, and the leverage used in the derivatives markets is also growing. I fear that in October there may be a short-term correction, 15 percent, before going to ATH. Take a look at the daily chart, a sharp spire with almost no pullbacks, solid rallies. Longs can meet short-term resistance.

Actually there are two patterns that are the same this year as 2013 and 2017, only the exact same pattern seen since September is 2017 as you said.
2021 September -7.03%
2017 September -7.44%
2013 September -1.76%
but in october 2013 it increased +60.79% and 2017 +47.81% if it is true what you say is the same as 2017 then we can be sure that ATH will occur in december.

as you said that there will be a short correction in October, whether it will really happen, it will still not affect that bitcoin will reach renewable ATH, so there is no worry for all who are waiting for a good change from bitcoin that has been awaited.

[electronicash]

Maybe the Golden Cross that we have been talking about for a long period of time happened and this has been its affecs so far. Or there is no special explanation for this pump and it is just about the usual volatility of the market. And this market never needs a reason to pump or go down sharply. It just happens even when we don't expect such thing to happen.

Small signs from here and there in addition to the normal volatility of course.
Some companies announcements, ETF...etc but I think the expected ETF announcement next week? is driving the price up the most.

This is the expect of many good news and yes, that golden cross trigger the uptrend again and its really good to see Bitcoin on $62k again.
A little pullback for now but that's ok, we still have 15 days in October and I'm confident that we can make a new ATH this month. If you don't have Bitcoin yet, its not too late to buy, many good news will still come and that could push more the price of Bitcoin going up.

Bitcoin ETF that he is saying is probably what drives this bull run faster. $BITO will launch this Monday, they don't want to wait for SEC to approve it. but because this is ETF, many will buy this and leave GBTC for this new ETF will not make the prices swing wildly.  although, it's still best to have a real Bitcoin in our wallet.
i'm also positive the October pump is driven by the speculation of the Bitcoin ETF that is coming.

[FanEagle]

Let us enjoy this present pump, however, on the threat of being accused of being an antagonizer again, my message is always the same. We should also be cautious because the reality of the market is bubbles will always pop. There are people who would say I fud, I would ask them is the cryptospace markets presently not in a bubble?

I do not think that what made the subprime so bad was not actually the size but it was basically the fact that they were defaulting their loan and that was the main reason. We have seen people getting mortgages with absolutely nothing and that was the main reason.

If you have so much mortgages under one umbrella and there were too many people who end up not paying at all then you are not going to be getting any profit because eventually we are going to see people not making their payments and you are going to end up getting defaulted and that will be worth zero in the end. That is what happened in 2008 people did not pay their mortgages and then the subprime loans got crashed.

[Oceat]

September has historically been a weak month for Bitcoin. In October, there was often a pump, by the way, in 2017 everything was exactly the same. September is bad, October is good. But something else worries me now. The pump to 62,000 actually happened not because something was approved there, but because it became known that Bitcoin ETFs could soon be approved. Moreover, open interest is growing, the financing rate is growing, and the leverage used in the derivatives markets is also growing. I fear that in October there may be a short-term correction, 15 percent, before going to ATH. Take a look at the daily chart, a sharp spire with almost no pullbacks, solid rallies. Longs can meet short-term resistance.

Actually there are two patterns that are the same this year as 2013 and 2017, only the exact same pattern seen since September is 2017 as you said.
2021 September -7.03%
2017 September -7.44%
2013 September -1.76%
but in october 2013 it increased +60.79% and 2017 +47.81% if it is true what you say is the same as 2017 then we can be sure that ATH will occur in december.

as you said that there will be a short correction in October, whether it will really happen, it will still not affect that bitcoin will reach renewable ATH, so there is no worry for all who are waiting for a good change from bitcoin that has been awaited.

I hope you are right since it seems like the correction is on the move already so maybe at November there will be a stable or up and down movement but we don't know yet what is the real support. If it's $60k then I'm sure there will be a new ATH before the year end, plus if ETF is going to finally approved by the SEC then expect a barage of pump making Bitcoin to break a new ATH.

Almost everyone is hoping for this but Bitcoin steadily standing strong despite of what was the past decision of SEC so I think it's just a bonus if SEC would approve the ETF. They don't need it this time but some are expecting that there will be a good decision from them.

[cryptomaniac_xxx]

September has historically been a weak month for Bitcoin. In October, there was often a pump, by the way, in 2017 everything was exactly the same. September is bad, October is good. But something else worries me now. The pump to 62,000 actually happened not because something was approved there, but because it became known that Bitcoin ETFs could soon be approved. Moreover, open interest is growing, the financing rate is growing, and the leverage used in the derivatives markets is also growing. I fear that in October there may be a short-term correction, 15 percent, before going to ATH. Take a look at the daily chart, a sharp spire with almost no pullbacks, solid rallies. Longs can meet short-term resistance.

And it's officially approved yesterday right? So we are all good.

But the pump wasn't there, although we are still above $60k, I was expecting a massive pump like $63k in just a couple of hours upon reading the news. But in any case, it was cool to hear the news and let's see this Monday if we are going to continue with this run (I believed it will), and register a new all time high. Yeah, possible that a short term correction will happen this month, but I'm seeing it happen in the last week. So we still have a week to keep this pump going.

[Reid]

When FUD comes in a massive spread traders will try to take advantage of it and ride with the FUD.
That means a widespread dump that could lead to a short-term bear. But, what comes down must also go up again when we are talking about cryptocurrencies.
It's the volatile nature of it and it will happen whether we like it or not.
Then, there's China a few months ago and the news about it calms down, I even forgot what's the name of the firm or company that made the market fell down.

[Silberman]

Let us enjoy this present pump, however, on the threat of being accused of being an antagonizer again, my message is always the same. We should also be cautious because the reality of the market is bubbles will always pop. There are people who would say I fud, I would ask them is the cryptospace markets presently not in a bubble?

I do not think that what made the subprime so bad was not actually the size but it was basically the fact that they were defaulting their loan and that was the main reason. We have seen people getting mortgages with absolutely nothing and that was the main reason.

If you have so much mortgages under one umbrella and there were too many people who end up not paying at all then you are not going to be getting any profit because eventually we are going to see people not making their payments and you are going to end up getting defaulted and that will be worth zero in the end. That is what happened in 2008 people did not pay their mortgages and then the subprime loans got crashed.

About that crisis, we need to look further than that, it is true it all began when people stopped paying their mortgages in huge numbers, but we need to wonder why that was the case? And the answer is simple because they could not afford the house on the first place, the way the loans they received were structured was that at first the payments they needed to make were low but after a few years the payments went up in a significant way and if to this you add that they gave a loan basically to anyone that asked this fueled a bubble which eventually burst.

[AmoreJaz]

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??

Maybe it's time to pump up and later at the end of October it might go down again, that's the market conditions that occur for all existing coins without exception, but many people believe that October is the most normal condition for existing coins, but none those who dare to guarantee how long it will last, given that market conditions can change in a matter of days, weeks and months.
To ensure safety for people who invest, October is a move to sell some existing coins that have a high selling value.

but if you talk about bitcoin market here, i have the feeling that its price increase will continue as btc ETF has just been approved. with the actual launching of this ETF in few hours, we will know what will be the sentiments in the market. but this is really great news as other crypto ETFs may follow soon.
other top alts may follow this movement but only those that are really deemed valuable in the market. other alts with substandard foundation won't cope up with this developments.

[BuNga_cute]

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??

Maybe it's time to pump up and later at the end of October it might go down again, that's the market conditions that occur for all existing coins without exception, but many people believe that October is the most normal condition for existing coins, but none those who dare to guarantee how long it will last, given that market conditions can change in a matter of days, weeks and months.
To ensure safety for people who invest, October is a move to sell some existing coins that have a high selling value.

Why is investing in crypto said to have a very high risk, because the price is very volatile, no one can guarantee until the end of October the market
will continue to rise. But so far the performance of most cryptos is very good, especially Bitcoin price can stay above $60k and probably will return
to ATH price in the near future. I agree with you, to be safer, we should take profit a coins that have reached a high enough price. Then we will not
regret if suddenly the market crashes, we lose the opportunity to get profit. Even though the price is increasing, we are just waiting for a correction
to occur to buy again coins that we consider potential.

[michellee]

Why is investing in crypto said to have a very high risk, because the price is very volatile, no one can guarantee until the end of October the market
will continue to rise. But so far the performance of most cryptos is very good, especially Bitcoin price can stay above $60k and probably will return
to ATH price in the near future. I agree with you, to be safer, we should take profit a coins that have reached a high enough price. Then we will not
regret if suddenly the market crashes, we lose the opportunity to get profit. Even though the price is increasing, we are just waiting for a correction
to occur to buy again coins that we consider potential.

Yes, it is true,
We must have our own pattern in making purchases, the pattern must be based on current market conditions, so that we really take the right decision to buy, usually people make purchases when the coin price drops and sell when the coin goes up, and I believe the condition of bitcoin will affect altcoins on the market. Regarding the risks of investing in crypto, I think everything we are going to do has risks, especially when it comes to investing.

Some people start buying when the price rises and they do that in a rush without thinking that the increase is only for a while and then back to the lower price. But this October, maybe the increases of the price get a good time whereas people see the good moment to buy crypto and give support to the crypto because of some good news out there. That support can lift the price to start increase, even if that will be a step by step to achieve the next high price like what we saw to bitcoin. So while we see that the bullish still at the market, we can analyze where we should sell the coin and what price we can place to make a profit.

[milewilda]

Why is investing in crypto said to have a very high risk, because the price is very volatile, no one can guarantee until the end of October the market
will continue to rise. But so far the performance of most cryptos is very good, especially Bitcoin price can stay above $60k and probably will return
to ATH price in the near future. I agree with you, to be safer, we should take profit a coins that have reached a high enough price. Then we will not
regret if suddenly the market crashes, we lose the opportunity to get profit. Even though the price is increasing, we are just waiting for a correction
to occur to buy again coins that we consider potential.

Yes, it is true,
We must have our own pattern in making purchases, the pattern must be based on current market conditions, so that we really take the right decision to buy, usually people make purchases when the coin price drops and sell when the coin goes up, and I believe the condition of bitcoin will affect altcoins on the market. Regarding the risks of investing in crypto, I think everything we are going to do has risks, especially when it comes to investing.

Some people start buying when the price rises and they do that in a rush without thinking that the increase is only for a while and then back to the lower price. But this October, maybe the increases of the price get a good time whereas people see the good moment to buy crypto and give support to the crypto because of some good news out there. That support can lift the price to start increase, even if that will be a step by step to achieve the next high price like what we saw to bitcoin. So while we see that the bullish still at the market, we can analyze where we should sell the coin and what price we can place to make a profit.

When making buying positions or decisions then it would be always like a hit or miss and its always been like that on which people doo really make out decisions from time to time and whenever they do
saw opportunities for them to buy then they do make out actions whether its just a fake pump or totally a reversal- no one could actually tell. This October pump reason is unknown yet but we can
presume out situations like this to be very common because market is unpredictable.It could move without that obvious reason and this is where people decisions do vary basing up with their
own experience and knowledge towards the market.

[ene1980]

~
When making buying positions or decisions then it would be always like a hit or miss and its always been like that on which people doo really make out decisions from time to time and whenever they do saw opportunities for them to buy then they do make out actions whether its just a fake pump or totally a reversal- no one could actually tell.

It is always hit and miss situation when you are investing but majority of the investors who are in here for a quick profit usually invest once the market starts to rally to ride the rally and book the profit and all they do is rinse and repeat and that is how they make profit in a high volatile market.

This October pump reason is unknown yet but we can presume out situations like this to be very common because market is unpredictable.It could move without that obvious reason and this is where people decisions do vary basing up with their own experience and knowledge towards the market.

You cannot always find reason for a rally and that is how the market is and the next two months are also bullish during a rally and that is what i am expecting.

[wiss19]

Why would we need someone who makes these type of decisions for us? I mean can't we just simply make something that would be basically realizing the fact that we could simply live something decent and end up not questioning the situation? Just realize that we are doing fine and that's it, live with the great situation we are in and forget about the reason.

I am enjoying this super increase this month and I ignore everything else, as long as it is high then I am fine with it. If you try to find reason behind every move that bitcoin is making then you are going to get crazy about what's going on, and then you will try to find every reason for every move and you will not be able to and it will drive you crazy.

[Sanitough]

Why would we need someone who makes these type of decisions for us? I mean can't we just simply make something that would be basically realizing the fact that we could simply live something decent and end up not questioning the situation? Just realize that we are doing fine and that's it, live with the great situation we are in and forget about the reason.

I am enjoying this super increase this month and I ignore everything else, as long as it is high then I am fine with it. If you try to find reason behind every move that bitcoin is making then you are going to get crazy about what's going on, and then you will try to find every reason for every move and you will not be able to and it will drive you crazy.

The crypto market has always been unpredictable so we should expect that there will be unreasonable pump and dump every now and then. There may be positive or negative news that affects the market but sometimes, the market just easily pump and dump because that's what its cycle. And there's no need to know every detail why the market pump or even dump because we are not here to question the market, but to make advantage in every market's price movements and end up making profits from it.

This October pump is probably the start of the bull run. So we should be happy instead because we are very near to our high expectations that the market will finally become bullish so we can gain huge profits in the end.

[Wawa2013]

Why would we need someone who makes these type of decisions for us? I mean can't we just simply make something that would be basically realizing the fact that we could simply live something decent and end up not questioning the situation? Just realize that we are doing fine and that's it, live with the great situation we are in and forget about the reason.

I am enjoying this super increase this month and I ignore everything else, as long as it is high then I am fine with it. If you try to find reason behind every move that bitcoin is making then you are going to get crazy about what's going on, and then you will try to find every reason for every move and you will not be able to and it will drive you crazy.

I agree we shouldn't bother looking for reasons why Bitcoin pump, the most important thing is that Bitcoin is increasing in price, it's something
we should be grateful for and there's no need to question it anymore. Sometimes humans are very curious about everything, so they seek to find out
the cause of everything. Though there are certain things that are better not to think about, like the increase in the price of Bitcoin we should enjoy it
rather than question it. Like we did something nice to someone, there is no need for a reason to help others, because that is what humans have to do.