Up-tober for crypto has not gone as planned; BTC is just above 62k, compared to 63 to 64k at the start of the month, and it was widely expected that we would soar.
Despite my reservations about October, I have always maintained that September was not too bad and might have an impact on how well we do in October, and here we are. Even though we are still a long way from there, 60k BTC appears to be an emotional support line.
It is October 13th, and in two days, the month will be halfway over. 62k looks a little meh, and I am sure many other people do not like what they see either. I do not believe we will dip below 60k BTC, and even if we do, we will not test 59k again.
Going below $60k is bearish, and not many people want that. Many people are perfectly poised, with all of their investments, to massively cash out with Bitcoin because they are fully vested. However, because BTC is more secure and is expected to rise in value, we can all expect more money to be made with altcoins.
This is no joke.
This is one of the most emotional cycles ever, with people reacting more strongly to dips and pumps than ever before. Every little movement causes a reaction. The trajectory or mindset that we are moving in one unstoppable direction (bull run) is no longer as fixed as it once was, and this is because many people have a lot to gain or lose.
It does not appear to be as hyped as we would expect, which causes this jitteriness. Although the buzz about the US elections continues, it appears that Kamala will not be able to defeat Trump; many Americans are skeptical of what she is campaigning on. I am not interested in either candidate, though I would rather have the better evil.
I just want the elections to be over so that we can focus on one less major event. The events in the Middle East are still ongoing, but I believe the US election is a significant factor. Once again, it is about people having enough money to match their FOMO to invest, as well as having a president who is not completely anti-crypto.
However, it has not been the best expected outcome in October.
This is not FUD; it is simply a market analysis. Crypto Twitter basically goes FUD with every little dip, but the sentiments are no longer there or here. It is more likely a period of boredom. The market's realistic nature means that while we are not doing badly, we are also not where we want to be.
So, is the market cycle looking completely different, or is it just my mind playing tricks? I think the market cycle has and will continue to look and act differently and a lot of things are still unexpectedly going to happen.
I'll still continue saying it, don't be decieved by October's crab walk, it might just stop you from making those decisions that will benefit you soon. I still believe we do not know much yet, and the only thing we can do is prepare our supplies and let the market do its thing.
There is no better way to approach the impending bull. If you decide to follow the trend, you will become extremely confused; the best thing you can do is control what you can. I feel that the market might not do anything exciting this month anymore, except more crab walk, I might be completely wrong, I have, in the past. However, nothing too exciting or nothing too drastic, just fluctuation. Like you, I'm waiting for the bull run, it's all experimental during this phase and all you can do is prepare
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