Quote from: Sayeds56 on Today at 05:47:06 AM

Quote from: DaNNy001 on October 02, 2023, 07:25:36 PM

Yeah the price has been dormant abit interms of movement, not going up or down and like you said it maybe because the halving is close by so that's why the price is stagnant. Many people out don't actually know this logic that's follows the price spike after the halving because I have a friend who actually feels the price movement will follow up by the end of this year and then expecting a bull next year and I have been trying to clear him about this notion of his but as nothing is sure in the price prediction I thought I would jus leave him to speculate ad his likes because bitcoin market is all base on speculation although past history have proven this logic about the price movement always after the halving.

Your observation is valid that Bitcoin market has experienced prolonged period of stagnation during past months, trading volumes were lower in particularly during the month of September. However, now we are in Uptober Cool

(October) traditionally considered bullish month for Bitcoin that has shown promise in the early days of this month when price surged by more than $2000 in a single day.

I want to be cautious and not sound too hopeful, it is worth mentioning that we are only 8 months away from halving event, moreover, most of market experts are predicting issuance of Bitcoin spot ETF in the 1st quarter of 2024, a major step forward towards Bitcoin adoption. All these developments suggest that we are entering into initial stage of next bull cycle.

We are very much closer to halving as I see because it would not be too long we enter 2024 and before you know we are experiencing the very much long awaited halving event which would warrant the bull run we have long been looking up to. I have been able to do a quick check of Bitcoin situations years back when it approaches October just as you have said "uptober(October)". October seems to be a very good and favourable month for the beginning of Bitcoin bull and it can be seen right from the very first day of this month. The spike in price is just becoming natural every year October and that's a good one and I believe it would be much higher than this come 2024 after the halving.

If you look at the above table you would see that October seems more of a bullish start or beginning for Bitcoin in the years past. Hopefully I think we are already in the bull circle with other spiking activities as a trigger for more hike in Bitcoin price come next year halving.

Source to table