Hello!

We finally ended September and we are now in Uptober! October historically has been one of the most bullish months for Bitcoin. Usually this month is where a big part of the gains are made. And everybody was expecting that.

There is another unwritten rule in crypto, when everybody is expecting one outcome, it usually happens the opposite. And it is funny that at the 1st of October we saw a small correction. At the time of writing this Bitcoin is trading at $61,500. A small correction from the $63,000 level.

Reading crypto twitter I found a platform called Kaito AI. According to them, they are building:

The most powerful AI search platform in Web3, bringing you market intelligence in seconds

And they published a tweet with this a photo showing that more than 2k tweets have been written with the word Uptober. Too much expectation that some whales used to liquidate the long positions. We saw a big red candle caused by a cascade liquidation. Even in a low scale, it is a cascade liquidation caused by fast changes in price.

Conclusion

On of the main conclusions we may take from this event is that if you want to make money in this game you don't have to follow the masses.
In fact, I would better say, you don't have to follow the masses LATE.
If everybody is already there, you are the exit liquidity.

Nah, just kidding. October should be a good month overall. I expect this Q4 to be very bullish in terms of price.
Let's see how it evolves.

Have a nice day!

Posted Using InLeo Alpha