It's not "Uptober" yet, but we're seeing signs of a bull run. BTC has already reached $64K, and September has been a decent month so far. Many are leveraging this momentum, preparing for a potential bull run or a trading fiesta, as the market is looking green.
Do you think the recent surge is a facade, or will we see a more strengthened market in the coming months?
With the way that the price has been moving since we hit a new all time high last March, it's really hard to see where it will go in the next month. Although historically, October-November should be a good month for a halving year, however, this is a very different cycle as we hit a new all time high prior to the halving itself. That's why this is the first time that we have seen this kind of movement and so we don't have any precedence to see how it will be.
So this could be just a facade, a bull trap or catching a falling knife. So it's just better to just prepare for the unexpected in the last 3 months. We will have to observe and just react on what the market will give to us. And then we have the US election as well in the sideline that might have a impetus on the market. Majority might think that it will bolster the market because a certain candidate is supposedly pro-Bitcoin. But it's not a assurance that once that person is elected, the market is going to be very bullish.
Lot's of parameters that we have to consider, and at the end of the day, it will still be up to us whether to push a bull run or not.