Is month of October a trap for bitcoin?

[dezoel]

Overall, this is all we can do and predict as I guess at this point people seem to have accumulated enough bitcoins to prepare for the upcoming bull run. So no one wants bitcoin price to drop any further, even if they are thinking about it, they won't admit it and don't want it to happen.

Also, as an investor, if we have a pessimistic attitude, we will never get good results, so people are doing very well by staying optimistic no matter how the market fluctuates. No matter what happens, as long as we remain optimistic and have faith in bitcoin, I believe that sooner or later we will be rewarded accordingly.

Obviously, they can't really consider it go down at all because we know people are waiting to buy more for the upcoming bull run. There are doubts about bull run coming from some people but I do not believe they are right, the bull run will happen and they are usually wrong. So, we need to make sure that price will get better eventually and we are going to profit from it.

Bull run doesn't happen over course of many months, it is a quick thing so we shouldn't really be hopeless just because it hasn't started yet, we are going to see the price increase suddenly, not slowly. So, this is why we should be keep buying bitcoin right now and keep accumulating more, it means we are going to profit when the time comes and we can be a lot more profitable when it suddenly goes up.

You are going to see the market not look like a bull market at all for a long long time, we haven't seen it go up like insane for a while now, and then suddenly one morning you wake up and see the price 20% higher, and then another morning it's 15% more up, and realize that you are in the bull run. You should accumulate now, because you should be getting before any of that happens, so you can benefit and profit when it goes up like that.

[jcojci]

Yes, the price in September was ended with a good price. But unfortunately, this early month we see the price is down until $61k or $59k (I don't watch for this price). October still long and it is too early to say that we will going to see the price will increase and back to up to $66k or even $70k. Everything still possible to happen especially if the price going to down for more so we must hold on tight our Bitcoin and accumulate more because this time will be another good time to buy Bitcoin. Rather than speculate where Bitcoin will go, I choose to wait and see and accumulate more and relax myself from the market movement. That help me to distract panic minds that comes when the price is suddenly down.

[Don Pedro Dinero]

Yes, the price in September was ended with a good price. But unfortunately, this early month we see the price is down until $61k or $59k (I don't watch for this price). October still long and it is too early to say that we will going to see the price will increase and back to up to $66k or even $70k. Everything still possible to happen especially if the price going to down for more so we must hold on tight our Bitcoin and accumulate more because this time will be another good time to buy Bitcoin. Rather than speculate where Bitcoin will go, I choose to wait and see and accumulate more and relax myself from the market movement. That help me to distract panic minds that comes when the price is suddenly down.

I think like you, there is still a long month to go, and I don't like to focus on the month so much as on the near future. I think that towards the end of the year the price may start to rise in earnest, but it doesn't have to be this month. Or we could even have a dip this month and start to rally at the end of the month, which would be the start of the bull run. What is clear is that the more months pass since the halving, the more likely it is that the bull run will begin.

[Natalim]

Yes, the price in September was ended with a good price. But unfortunately, this early month we see the price is down until $61k or $59k (I don't watch for this price). October still long and it is too early to say that we will going to see the price will increase and back to up to $66k or even $70k. Everything still possible to happen especially if the price going to down for more so we must hold on tight our Bitcoin and accumulate more because this time will be another good time to buy Bitcoin. Rather than speculate where Bitcoin will go, I choose to wait and see and accumulate more and relax myself from the market movement. That help me to distract panic minds that comes when the price is suddenly down.

I think like you, there is still a long month to go, and I don't like to focus on the month so much as on the near future. I think that towards the end of the year the price may start to rise in earnest, but it doesn't have to be this month. Or we could even have a dip this month and start to rally at the end of the month, which would be the start of the bull run. What is clear is that the more months pass since the halving, the more likely it is that the bull run will begin.

Couldn’t agree more. Regardless if this month is a trap or not, or let’s just say that the whole months could also act as traps, one thing is certain, we don’t have control over it. We can anticipate but we can never manipulate the market movement, except for those big whales who can influence the market condition.

And if ever October turns a trap, that won’t affect us. We are here for long term hodling, so we’ll just wait when will the market finally cooperate with our goals in the market.

[hyudien]

I think like you, there is still a long month to go, and I don't like to focus on the month so much as on the near future. I think that towards the end of the year the price may start to rise in earnest, but it doesn't have to be this month. Or we could even have a dip this month and start to rally at the end of the month, which would be the start of the bull run. What is clear is that the more months pass since the halving, the more likely it is that the bull run will begin.

Couldn’t agree more. Regardless if this month is a trap or not, or let’s just say that the whole months could also act as traps, one thing is certain, we don’t have control over it. We can anticipate but we can never manipulate the market movement, except for those big whales who can influence the market condition.

And if ever October turns a trap, that won’t affect us. We are here for long term hodling, so we’ll just wait when will the market finally cooperate with our goals in the market.

At the beginning of October we were a little surprised because the assumption that bitcoin would go up on the contrary had touched $59K but it was only temporary just to give a little concern launched by the whales. Evidently now Bitcoin is recovering and is at $62K as I write this. The bottom line is that we are still at the beginning and several other key moments await. The Halving is over but the big waves of real Halving impact are still on the way. Late 2024 and early 2025 is a good time to see bullish speculation from analysts and if it's true, fasten your seatbelts.

[STT]

Im going to argue October remains bullish in prospect just so long as we maintain this current movement both now in the closing of the working week but also the BTC weekly bar on Sunday.   We need to enter next week positively and build from there, if so then I remain positive expecting accumulative movement for OCT.


Lows for the last 4 days have been the 50 day average which is now ascending, a positive.  The weekly average is overhead, a future battle.

The 200 day average is overhead and declining, a negative & future battle for BTC to overcome.   This is important as the most referenced indicator around the world and now represents the hesitancy of six months in the price action momentum for BTC.  

No clear path for BTC in October but stay optimistic is quite realistic still

[yudi09]

So far so good, month of September ended with good price about ~66k but on a short while the price changes it directly with a heavy declined. I am still bit surprised if this was a trap and like I had this mindset that price has pick up but know 60k as the bottom, seems month of October gonna have good tidying for bitcoin, even as this I am still bullish.

Prices can change suddenly which is influenced by many reasons. One of them is conflict between countries. In the middle of the price chart is rising, suddenly continues to experience a decline and we can see this because the price is now still trying to return to $ 64K after falling to the price level of $ 59K according to the prediction in 24 hours. I am also optimistic that October will be a good month for the price of Bitcoin, but it all depends on the circumstances and situations.

True, October should get a significant movement of bitcoin that will continue to grow, the path should be like that, and especially before October the month of September has experienced a recovery and made us in a crazy optimistic position to reach the price of $66k before, but as we know things that cannot be predicted can affect the price of bitcoin, and that happens because of conflict, as long as the state of this conflict becomes calmer I think it will be better in the future for bitcoin, I really don't expect bitcoin to decline again after some time we are big enough to wait for the rise of bitcoin prices.

The effects of the conflict will also not be too long to make the price slump. For now, the Middle East conflict is the reason for the price drop, but the chart is looking good again and is not continuing to decline. I can say that investors already understand how and what actions they should take. Previously, there was also a conflict between Russia and Ukraine. The effects of the conflict also caused the market price to fall. Just like you, many people hope that Bitcoin will not experience a price drop again, even so, everyone must take action, not just hope. If you only hope, how can the price increase.

[Akbarkoe]

True, October should get a significant movement of bitcoin that will continue to grow, the path should be like that, and especially before October the month of September has experienced a recovery and made us in a crazy optimistic position to reach the price of $66k before, but as we know things that cannot be predicted can affect the price of bitcoin, and that happens because of conflict, as long as the state of this conflict becomes calmer I think it will be better in the future for bitcoin, I really don't expect bitcoin to decline again after some time we are big enough to wait for the rise of bitcoin prices.

The effects of the conflict will also not be too long to make the price slump. For now, the Middle East conflict is the reason for the price drop, but the chart is looking good again and is not continuing to decline. I can say that investors already understand how and what actions they should take. Previously, there was also a conflict between Russia and Ukraine. The effects of the conflict also caused the market price to fall. Just like you, many people hope that Bitcoin will not experience a price drop again, even so, everyone must take action, not just hope. If you only hope, how can the price increase.

Yes, it does not have a long impact and only briefly, but what is feared is the escalation of war that might trigger a much bigger war, there is fear from this sentiment because it seems that these two countries are adamant about war, first Israel will continue its goals and Iran wants to stop all that, honestly if Israel no longer attacks and wars maybe this will not last long and we will be much calmer with bitcoin.
The thing that is hard for me is that all of this, where surely some of Israel's allies also respond and this will be something that cannot be resolved in a week or two, my personal assumption is that if this war is long enough and gets bigger, the bitcoin market will probably return to the $40k-$50k level again for some time until a truce or settlement has been found.

[Dave1]

So far so good, month of September ended with good price about ~66k but on a short while the price changes it directly with a heavy declined. I am still bit surprised if this was a trap and like I had this mindset that price has pick up but know 60k as the bottom, seems month of October gonna have good tidying for bitcoin, even as this I am still bullish.

Prices can change suddenly which is influenced by many reasons. One of them is conflict between countries. In the middle of the price chart is rising, suddenly continues to experience a decline and we can see this because the price is now still trying to return to $ 64K after falling to the price level of $ 59K according to the prediction in 24 hours. I am also optimistic that October will be a good month for the price of Bitcoin, but it all depends on the circumstances and situations.

True, October should get a significant movement of bitcoin that will continue to grow, the path should be like that, and especially before October the month of September has experienced a recovery and made us in a crazy optimistic position to reach the price of $66k before, but as we know things that cannot be predicted can affect the price of bitcoin, and that happens because of conflict, as long as the state of this conflict becomes calmer I think it will be better in the future for bitcoin, I really don't expect bitcoin to decline again after some time we are big enough to wait for the rise of bitcoin prices.

The effects of the conflict will also not be too long to make the price slump. For now, the Middle East conflict is the reason for the price drop, but the chart is looking good again and is not continuing to decline. I can say that investors already understand how and what actions they should take. Previously, there was also a conflict between Russia and Ukraine. The effects of the conflict also caused the market price to fall. Just like you, many people hope that Bitcoin will not experience a price drop again, even so, everyone must take action, not just hope. If you only hope, how can the price increase.

We didn't broke the $60k support, so by now, it's good to see that we have reach $62k again, a positive sign that the market this month will remain bullish and just like it's previous run, October-December might be the start of the parabolic rise that we have been waiting for so long.

I don't know though if war has the same effect, I mean Ukraine vs Russia, maybe financially we might be affected by it. And now the Middle East war, prices of oil might be in the center of it. Anyhow, I'm also very bullish this month and just like what I said, till the end of the year, maybe we will see a new all time high despite the war from the background that might affect the whole financial market.

[Helena Yu]

I don't know though if war has the same effect, I mean Ukraine vs Russia, maybe financially we might be affected by it. And now the Middle East war, prices of oil might be in the center of it. Anyhow, I'm also very bullish this month and just like what I said, till the end of the year, maybe we will see a new all time high despite the war from the background that might affect the whole financial market.

Nothing can change Bitcoin bull season, we shouldn't forget in 2021 there are many countries still struggle due to Corona that happened in 2019-2020. In 2021, not many companies are recovered yet, but Bitcoin price can rise 3x times higher.

A big war can affect Bitcoin price, but it's just in short term period, it not possible to change from bull season become bear season.

[Poker Player]

It will be a trap for those who get caught. If you do DCA little trap can be. And if you don't do DCA but you're a long term investor either, you're not going to get scared because the price goes down this month. Anyway I think we get a little impatient with the post halving but based on previous cycles the bull run could start now or in 6 months or more, and until then anything can happen. So patience.

[sunsilk]

So far so good, month of September ended with good price about ~66k but on a short while the price changes it directly with a heavy declined. I am still bit surprised if this was a trap and like I had this mindset that price has pick up but know 60k as the bottom, seems month of October gonna have good tidying for bitcoin, even as this I am still bullish.

I am also bullish not just until the end of this month and year but also for next year. I am no longer surprised if ever the price of Bitcoin skyrockets and then it will be followed by a massive dump. That seems to be the pattern whenever we see some good pumps.

Just don't expect that these pumps will be stable because it has to correct and later on, will be back again to the top that it has stopped.

Global news seems to be affecting the price this time and there are some wars that are happening again and the whales do move the market as if there's really relation on it.

[jcojci]

Yes, the price in September was ended with a good price. But unfortunately, this early month we see the price is down until $61k or $59k (I don't watch for this price). October still long and it is too early to say that we will going to see the price will increase and back to up to $66k or even $70k. Everything still possible to happen especially if the price going to down for more so we must hold on tight our Bitcoin and accumulate more because this time will be another good time to buy Bitcoin. Rather than speculate where Bitcoin will go, I choose to wait and see and accumulate more and relax myself from the market movement. That help me to distract panic minds that comes when the price is suddenly down.

I think like you, there is still a long month to go, and I don't like to focus on the month so much as on the near future. I think that towards the end of the year the price may start to rise in earnest, but it doesn't have to be this month. Or we could even have a dip this month and start to rally at the end of the month, which would be the start of the bull run. What is clear is that the more months pass since the halving, the more likely it is that the bull run will begin.

Yes, you are right. We still have a long month to go and we must not worry especially if the price is down again. We should focus about collecting more Bitcoin especially in the down trend because that is our chance to buy Bitcoin at a low price. We can wait for the bull run comes and no need to do many things except accumulate more and more according to our budget and plan. When we feels it is enough to have Bitcoin, we can just sit down and no need to take action. I like when the price is down for more because that will be my chance to down my average buy price and add more Bitcoin to my wallet

[STT]

October is often higher volume and volatility but nothing so simple as a 4 letter word trap   Look back at the last years price action since that last October and it wasnt bullish to start but resolved that way, I'd hope for similar now.

2023  BTC

This is daily bars so 50 day for the blue moving average and 200 the other.   Just like now the 50 day was trading below the 200 which shows great indecision at least and a threat to move negatively continually.   However in 2023 we beat that and improved considerably.

It is remarkably similar, Im not going to post the same chart for todays BTC prices you can already just google it  but patterns look quite similar imo.
  Current lows are the 50 day average just as above and we need to be above the 200 day average as a good indicator of better BTC price action[ to end as positive as a year ago];  its quite easily going to happen.

[jaberwock]

Well now we are in this month called 'Uptober' but it is not acting like this. We can think it does have alot to do with the war in the Middle East. And the stock markets are also not acting like a 'bull market'.
I just do wish for us history will repeat like it does in October. We do need some big gains before it is the end of the year. It is now for us to still hodl our coins. Do not be tempted to sell.

I won't say Uptober, since there are still some Octobers where the price didn't rise and who knows? The history might repeat itself again. And see? You even said that it isn't acting like that (its name). Anyways, so, is there really a new war again? I'm not aware with that but I think yeah that the war had some impact in the price of cryptos and that is they are mostly negative and a few are surprisingly positive, just like the last time's Ukraine and Russian war.

If I'm going to define the negative effect in war, it is when people sell thinking they won't do it anymore later on and they can't also transact when the war have begun. So, stability in price is also there.

As for the positive effect, it is when the donations are accepted in the form of crypto as banks may not operate yet, just like like last time or during the Ukraine-Russia war. It can also be used by people involved in war, including to bypass the sanctioning given to them once the war is over. Again Russia did this last time. I know that some needs a big gain because maybe they are now in a critical condition. You know, they might have loans that are now on due.

But for some, especially those who already experienced a bull before, I think they are not really rushing. As you said earlier, there is no increase yet that occurs, so there is also no point of being tempted on selling. If let say there is now a bull run and we are done selling, a lot of people can still buy and HODL their coins again.

[yudi09]

-snip-

We didn't broke the $60k support, so by now, it's good to see that we have reach $62k again, a positive sign that the market this month will remain bullish and just like it's previous run, October-December might be the start of the parabolic rise that we have been waiting for so long.

I will not say anything about bullish or not, at least for October. As for December, my feeling supports the analysis that bullish can occur in December.
The starting point is at $70K. If in the next few months it can reach that point, then December can be exciting.

I don't know though if war has the same effect, I mean Ukraine vs Russia, maybe financially we might be affected by it. And now the Middle East war, prices of oil might be in the center of it.

The effect of war on market prices cannot be absent. The reason why war is hated by many people including us, is because war does "kill" the economy and spread to other sectors.

[Perfectbaby]

It will be a trap for those who get caught. If you do DCA little trap can be. And if you don't do DCA but you're a long term investor either, you're not going to get scared because the price goes down this month. Anyway I think we get a little impatient with the post halving but based on previous cycles the bull run could start now or in 6 months or more, and until then anything can happen. So patience.

Yes you are right patient is always the key is true, for sure we can see full bull run next 6 months but what else, we can even experience it before then since we did experience bull new ATH before next year, there could be a possibility of also creating another ATH again before next 6 months of entering full bull run. The election is one Major positive news that is really propelling the market to next price but this would depend on the emerging candidate such as Donald Trump who has been giving positive moves to Bitcoin can equally stir up the market to gain new ATH since this month has proven to bullished.

[JeffBrad12]

October is often higher volume and volatility but nothing so simple as a 4 letter word trap    Look back at the last years price action since that last October and it wasnt bullish to start but resolved that way, I'd hope for similar now.

it's always funny when people say this month is a trap just because price dumped the first few days of the month meanwhile there are still so many days left for bitcoin to go up.

people need to reaize that after every rally there needs to be retracement, rate cut is great and it has successfully turned around the sentiment of rektember but doesn't mean price will always go up every day in the supposedly green october, for all I know, retracement is completely normal and it might be a mark that some big rally is going to happen, of course, it all depends on the sentiment and the news, hoping that no war is escalated this month around, then BTC can start going up again, I expect BTC to go back to the level of $65k++ in the middle of this month despite many people bear posting.

[mich]

Well if it is a trap then that does mean it will be a 'bear market'. I do not think we are going to see price of Bitcoin fall alot.
Still I think we will see a 'bull run' maybe at the end of October. But for now we have to wait and price of Bitcoin does still stay higher then 60k.

[pooya87]

Bad news is oil price is rising but the good news is that it doesn't seem to want to go beyond $78 ... yet...
That kind of rise negates the recent rate cuts and will push the inflation up which may lead to no more rate cuts which then means continued recession.
That is a whole lot of negative for bitcoin price.