Bitcoin is about to have its biggest monthly gain since October 2021.

After the start of a much needed bullish relief in this week, bitcoin and crypto as a whole is inching closer to get the best monthly gain since October of 2021 aka the Uptober where we had the release of the first Futures ETF Bitcoin in the US. That’s indeed some much needed and appreciated relief we are getting right now after months of constant extreme fear and red candles.

How long we will continue to rally or how sustainable this rally is, is quite debate-able but we should just get a bit happy for the moment now, we dont get such times always in crypto and especially after the years past few months. Also we are not having any significant planned economic event next month as there is no FOMC to raise rates. So we may have some space left on this rally…

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36 thoughts on “Bitcoin is about to have its biggest monthly gain since October 2021.”

  1. I see coins are green, them shitcoins too

    I see ‘em moon, for me and you

    And I think to myself, what a wonderful world

    Reply
  2. The NASDAQ is still below the 200 day SMA.

    Until we break through that, then bounce off it as support, we are still in a bear market.
    But odds are we will stick with the trend, meaning we reach the 200 day SMA and get rejected off it, followed by at least a month of downward movement.

    The real question is:
    After getting rejected off the 200 day SMA, do we make a higher low than the June bottom, or break through that support? If we break through it, then the algos will get triggered, and we could see another significant capitulation event.

    This is what I’m really waiting to see.

    Regardless, I’m in heavy DCA mode now, but still have an extra dry powder reserve ready just in case.

    Reply
  3. I dont believe in this ralley.

    The geopolitical situation is way to unsure, inflation still prevails, the pandemic far from over and the pending food crisis not solved.

    To think Crypto is uneffected from this framework is delousional.

    My intuition: Fallback to 20k in the next weeks

    Reply
  4. I wish people predicting Bitcoin prices could put some of their money in a smart contract somewhere. If their prediction turns out to be true, they get their money back along. If it doesn’t, then their money gets distributed amongst the people who sign up.

    Reply
  5. The stock market also had it’s best month in a long time. Not a coincidence. It’s really unfortunate that crypto and the stock market are so highly correlated now. The Federal Reserve and Inflation and Unemployment numbers decide how well we do.

    Reply
  6. This doesn’t seem to mean much given that it’s still over 50% down and there’s not a very positive economic outlook

    Reply

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