What Happened to Uptober!

[Findingnemo]

Prices started to decline just before the start of this day and in some part of the world it might be but I still can't process out what exactly happened today that lead the price to take a nose dive down the hill when it has been promising and kind of bull run might kick in?

Is this purely due to the political thing that happened between Iran and Israel, not sure but read Iran launched ballistic missiles over Israeli citizens and might wait for another huge thing or anything else that happened meanwhile?

[Sim_card]

Prices started to decline just before the start of this day and in some part of the world it might be but I still can't process out what exactly happened today that lead the price to take a nose dive down the hill when it has been promising and kind of bull run might kick in?

Is this purely due to the political thing that happened between Iran and Israel, not sure but read Iran launched ballistic missiles over Israeli citizens and might wait for another huge thing or anything else that happened meanwhile?

It is hard to predict the price movement of bitcoin and one thing you should know is that past records is not a guarantee of that the same thing will happen in future. There is no way that the price dipped on the last day of September and it will start pumping because it is 1st day of October. If October is a month for bitcoin price to pump and history wants to repeats itself, we will see the pump soon since October still has 30 days and this is the first day. Too much expectations on the month of October might disappoint those who believe in past records to repeat again because this year is different from other years before the bull run. For the first time in bitcoin history, bitcoin reached a new ATH before the halving and that maybe a sign that things might not go in similar direction like other ones.

[Asiska02]

Prices started to decline just before the start of this day and in some part of the world it might be but I still can't process out what exactly happened today that lead the price to take a nose dive down the hill when it has been promising and kind of bull run might kick in?

Is this purely due to the political thing that happened between Iran and Israel, not sure but read Iran launched ballistic missiles over Israeli citizens and might wait for another huge thing or anything else that happened meanwhile?

I can’t really say if that was the cause of the decline in the market but if it was, it won’t still have been a surprise. The market was already on an upward trajectory before the end of September and as expected and predicted for October to be the month where the bull sets in and begin, it’s such a surprise to see it falling again. This might just be a little setback and we may see a more positive movement in this month as expected. We are just in the starting of the month and we may see a new total dimension to what it has begun with. After all, war since effect on the market, but for this, we have to wait and see further how the market behaves as related to the blooming war from Israel and Iran.

[Captain Corporate]

We are literally on the first day of October I mean you are either joking, or you are a little bit impatient because you shouldn't wait for the price to start going up right away on the first day of the month. I am not saying that we are going to see the price jump up super high, it may not happen and we may fail too, there is nothing wrong with that and it could very well happen. However, we need to make sure that we know what we are getting here and at times that is not really that complicated to begin with. Just focus on making money by holding and October should be fine, if not then later on will be fine.

[hugeblack]

Only a few hours have passed since the beginning of October or the political events, so there is no connection between these analyses, historical data and political events, especially since a 4% decline is normal in the cryptocurrency market.

[Findingnemo]

Only a few hours have passed since the beginning of October or the political events, so there is no connection between these analyses, historical data and political events, especially since a 4% decline is normal in the cryptocurrency market.

It was floating around $65-66K range comfortably for a while and holders assumed that this is the time for bull to kick in and I expected to be it around 70K honestly with the way things were going then this political event happened so I guess there's strong relation for the price of Bitcoin and geopolitical things.

For example Trump, the election results those are the expected breakout points as per analysis.

[Sim_card]

Only a few hours have passed since the beginning of October or the political events, so there is no connection between these analyses, historical data and political events, especially since a 4% decline is normal in the cryptocurrency market.

It was floating around $65-66K range comfortably for a while and holders assumed that this is the time for bull to kick in and I expected to be it around 70K honestly with the way things were going then this political event happened so I guess there's strong relation for the price of Bitcoin and geopolitical things.

For example Trump, the election results those are the expected breakout points as per analysis.

Before the Iran attack on Israel, bitcoin price has been behaving in this pattern because if i could remember, last week bitcoin price does dip to $62k/ and pumps back to $65k+ and so on for three days before it was able to pump to $66k and never dip below $64K. This was why most speculators and investors were thinking that the bull run is around the corner. Seeing the price dip to $61k might not be any geopolitical issue. The thing is that people always find what to hold responsible for the dip/pump in price of bitcoin.

[Aanuoluwatofunmi]

We just started and this is not what we can easily predict about the aftermath, when a month just begins, the market price at the first instance does not have to be what it may ended with, which means during the cause of the month, there is hope for more to see under the market volatility, which may run in favour for bull market or for bear market as the case may be, we should only learn to stay informed about what to expect anytime forward.

[Captain Corporate]

I get that we are as down as 60k and that is terrible of course but this doesn't mean that we are going to see even more drop. Of course its not going to happen, we are going to do fine without much and we will recover with time. I get that we are looking into this type of thing as bad usually in the crypto world, but we are not seeing any worries and this should not be a big deal. We are going see the price recovering quickly and we are going to get better deals without a doubt. I think we should consider this as normal as it gets. We will see the price increasing again and I will keep saying that no matter how much it drops.

[SamReomo]

Only a few hours have passed since the beginning of October or the political events, so there is no connection between these analyses, historical data and political events, especially since a 4% decline is normal in the cryptocurrency market.

For Bitcoin that 4% decline isn't a new things but people have to understand that the market has to perform differently on different times. Sometimes it goes up without any exact reason and similarly sometimes it drops pretty badly without any 100% genuine reason. I think such decline isn't an issue but things may go wrong if Bitcoin drops below $55k within a week or two.

[hugeblack]

It was floating around $65-66K range comfortably for a while and holders assumed that this is the time for bull to kick in and I expected to be it around 70K honestly with the way things were going then this political event happened so I guess there's strong relation for the price of Bitcoin and geopolitical things.

For example Trump, the election results those are the expected breakout points as per analysis.

The impact of political repercussions does not affect the price of Bitcoin immediately unless Covid is declared a pandemic or a mass market collapse, but the impact may appear after a while. For example, if a political conflict occurs, the price of oil will increase, which affects inflation, which affects financial and investment policies that may affect Bitcoin. We need days to see such effects, not direct interaction.


Remember that the cryptocurrency market still represents less than 3 trillion compared to markets with more than 30 trillion.

[milewilda]

Only a few hours have passed since the beginning of October or the political events, so there is no connection between these analyses, historical data and political events, especially since a 4% decline is normal in the cryptocurrency market.

For Bitcoin that 4% decline isn't a new things but people have to understand that the market has to perform differently on different times. Sometimes it goes up without any exact reason and similarly sometimes it drops pretty badly without any 100% genuine reason. I think such decline isn't an issue but things may go wrong if Bitcoin drops below $55k within a week or two.

Only newbies or to those new people who had just recently known crypto space would really be getting shocked with this kind of movement on which we know that this is really just that typical
into this market on having these kind of percentage drops. Its not that new anymore and to those who are already that old or have been on t his market for a while then they are really
that getting used to this movement. Instead on panicking out, they would really be rather seeing this as an opportunity for them to buy even more or accumulate on cheaper prices
and then sell on the moment that the market will be making out such recovery.

[NotATether]

It has only been three days. You have to relax and take it easy. Did you really expect the price to go over the moon in 72 hours?

Nobody was expecting Bitcoin to jump all this time, and certainly not in the span of a few days, so why all the unrest now?

Come back to this thread on 31 October, and I'm sure you'll be pleasantly surprised with the results.

[alltalk]

Is this purely due to the political thing that happened between Iran and Israel, not sure but read Iran launched ballistic missiles over Israeli citizens and might wait for another huge thing or anything else that happened meanwhile?

War always brings impact on crypto market. It is not surprising if Bitcoin and altcoins drop their prices when there is a war. We already experienced this many times, why we must feel doubt about this? However, I also think there are other reasons besides the war between Iran and Israel. Many investors may prefer to wait for the update information from the FED (about interest rate cut). They seem to hold their funds, they are not really interested to buy coins now. So, there is no more huge demand that can trigger the high increase in the coin prices anymore. Also, we seems to have an issue about MT GOX's repayment to creditors and FTX repays to customers in this month.

[KingsDen]

October is actually my birth month and I have always done it to be a month of bull in the cryptocurrency market, but I am actually surprised how the reverse has just happened from the first days of October.
Well, I believe this correction is building up to something good maybe towards the end of October.
Whether Israel war or not, something must be attached to bitcoin crash.