Quote from: EL MOHA on September 20, 2024, 09:28:25 PM

Quote from: Iranus on September 20, 2024, 04:20:24 PM

I remember in a poll in early September when bitcoin was still trading at $52-55k. Most are bearish on the market and no one thinks we will have a recovery or growth in September, and no one is optimistic about the coming months, all they can say is that they expect change in the future. But suddenly bitcoin price rose above $60k and at one point surpassed $64k, now people are gradually becoming more optimistic and they have also changed their bitcoin views.

That shows no one can know what will happen next, bitcoin is unpredictable. So what we can do is plan for both scenarios: what we will do if the price falls and what we will do if the price rises from now on.

If you actually read some of the replies on those polls about bitcoin September price you will find out that most people have their predictions base on historical data and one of the key factors that made many to think this month will be bearish month is because the month of September has always been majorly a bearish month so base on that many predicted it to follow the trend. Also the month was welcome with a panic news of recession looming around which added to most investors confluence.

The month predictions might now be wrong with bitcoin pumping up this is because no prediction is certain it’s all speculations, moreover the Month actually played out its bearish trend role and only started pumping because of the cut of rate by the state’s which increase the interest of many investors to come in and that’s why this pump is going on and I expect it to kick start the bullish trend which I believe will start this last quarter of the year

Yes, the yearly chart shows that September is always a bad month for bitcoin but another reason is since the halving happened. Bitcoin monthly price poll topic so far most people have made wrong predictions, Bitcoin does not move according to crowd expectations. So people start to lose their expectations and instead make more neutral predictions because no one wants the market to fall any further nor does they believe the market will rise. But every time the price of bitcoin increases, some people will immediately change their minds.
It can be said that market sentiment changes very quickly and market makers are very good at manipulating our sentiment.

The Fed's 0.5% rate cut did not necessarily ease recession fears; on the contrary, it made them worse. They rushed to cut interest rates because they were probably afraid of a recession, not because the economy was getting better as they said. But surprisingly, the market reacted positively.

Personally, I am in no rush, I will wait until the second rate cut in November, then I can be confident enough to think we will enter bull season.