This was not the October we were promised, but neither was the September we expected. A lot of things are not going as planned, and it all started with BTC smashing its previous high before the halving.
Although there is a reason for why that happened, I believe it is time we tell ourselves the truth: this cycle will not unfold exactly as the previous one. There are numerous parameters that have ensured that things have changed from what they were previously.
I mentioned this a while ago, and to be honest, it is important that we start preparing ourselves to be shocked or surprised.
A lot of moon boys thought we would finally taken off when we did not get completelyrekd in September, but I knew deep down that wreck was bound to happen somehow. For example, something is always going for another thing in crypto.
There are no moons without dips, and since we did not completely dip or get rekd, I believe October taking some of the September dip was unavoidable. Who would have predicted that we would be back at 60k BTC? Not many, but I did.
This cycle appears strange, but if you look closely, you will notice that either a pattern is occurring too quickly or too slowly.
Once again, the market is in a panic. Is it time to speak about the Middle East? Perhaps.
There is a lot of unrest going on, and it appears that Israel is not going to stop fighting for what they believe to be justice. So, is it time to believe that the Middle East will remain unstable indefinitely? Maybe. I believe the war there can be ended in the blink of an eye, but when terrorism becomes political, we know what happens.
Sadly, we live in a reactionary world. COVID forced people to lose their jobs, and wars will cause financial instability and uncertainty. When there is instability, people prioritize survival over wealth.
However, I believe that the unrest in the Middle East is a catalyst, just as other catalysts will be present in future bear markets.
As I previously stated, we live in a reactionary world, and we saw how the market reacted to the US interest rate cut, but is this enough to prevent crypto from making potential gains in Q4? I have my doubts about this.
It appears that holding the support line for 60k BTC is critical, but I disagree. Given the dip we saw in September, I believe we could fall below 60k and still be on track, but the market will react, and this is how FUD grows. It's incredible to see that even in October people are still feeling bearish, when they shouldn't be.
Historically, they shouldn't, but like I said, it looks like this cycle wants to damn history. To be very honest, I believe this dip is mostly correlating with the one we saw in September. We saw more gains than dips in September, and who knows, we might see more dips than gains in October.
For what it is worth, I have not really rated October in any of my analyses; I believe it will have even more sideways movements and possibly pull something huge near the end.
However, the market has its own mind and will respond to a wide range of news and information.
So, when will we finally see gains without dips?
Nobody knows, but not this month, if you ask me. Again, I believe we are still on track. I will keep asking you to buy and stack; these buying opportunities will never come again. If you truly want to establish yourself and have the financial resources, this could be the market to stop worrying about future bears.
I am sorry if the new month has ruined yourlambo dreams, but there is still plenty of time; October could still pull in 70k BTC very late, who knows?
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