Bitcoin pumped over 45% last October, will history repeat itself? ($28k Bitcoin target for October)
Ok guys, let us all get ready for the uptober crypto market pump effect which might begin tomorrow as today is the last day of Rektember or September and tomorrow is the beginning of October or Uptober which has always been a very favorable month for Bitcoin and Altcoins, now based a statistics Bitcoin pumped over 45% in last year and it also had some pumps the year before last but I do not know the exact percentage value anyways but the point I am making is every October the crypto market sees a lot of greens and balances up the red sea experience in Rektember, sorry I might September pardon me I am already used to calling September Rektember because of the dips.
Now that being said would history repeat itself and would we see a lot of green candles and pumps as we saw last year because right now the Bitcoin market or value is down 70 percent from its all-time high of last year November, at the point I was writing this post Bitcoin was currently trading around $19k after recovering once more from the $18k key support level, now if history should repeat itself and the price of Bitcoin pumps over 45% from the current trading price, that means we should be expecting the price of bitcoin to pump to about $28k or more, depending on the bulls buying power in the crypto market. Check the chart above, I noted the $28k target area on the chart
Because positive sentiments and a lot of cash flow into a particular asset meaning that the asset is going to pump or increase in value, and right now October or Uptober has the positive sentiment aspect under lock and key, so it is remaining for people to start pumping in money into Bitcoin due to the uptober positive sentiments effect. If Bitcoin gets to $28k or more next month then that would be a path to a much more higher price or maybe a possibility to head for the previous all-time high in November, but nothing is sure yet so we would have to watch and see how everything plays out.
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The only thing about last October was that it was the tail end of the bull market... I guess time will tell. If anything happens, I think it will be in the final stages of October.
Posted Using LeoFinance Beta
Let's watch and see buddy.