- Bitcoin Uptober incoming, igniting strong bullish reactions from the community.
- Bullish sentiments rise as crypto community awaits Q4 pump.
- The most bullish crypto quarter nears.
The crypto community is bullish on the possibility of a highly promising Q4. Historically, the final three months of the year are highly bullish for the crypto market, with crypto market prices hitting new ATH targets. Presently, with Bitcoin Uptober incoming, bullish sentiments rise as crypto community awaits the most bullish crypto quarter. Will all assets enter price discovery and usher in altseason’s long-awaited arrival?
Bitcoin Uptober Incoming
The crypto bull cycle usually moves in a 4-year pattern, where it is divided into the bear phase, accumulation phase, and bull phase. Currently, the crypto market is in a bull phase, which works accordingly: first, the Bitcoin Halving event occurs, followed by BTC setting a string of new ATH prices, then Ethereum sets its first ATH in the cycle and enters price discovery, pulling all altcoin prices up with it and ushering altseason. The bull cycle often ends with the memecoin price pump.
This bull cycle started out with Bitcoin setting a new ATH price before the Bitcoin Halving event occurred, which led to a correction in Q1 and ultimately delayed the cycle’s altseason. Only last month did ETH set a new ATH price, allowing the price of ETH to finally enter price discovery this cycle. Presently, the price of BTC and ETH has declined, leading to debate over a bullish or bearish close for the month.
Historically, the month of September tends to close in a bearish red, with only a few years being the exception. Initially, this month was expected to close in the red, but BTC has been performing relatively well this month, so unless it experiences an even greater dip, Q4 may start with a bullish lead. While September may be bearish, the entire Q4 is historically a highly bullish time for the crypto market, and presently, analysts have high hopes.
Bullish Sentiments Rise as Crypto Community Awaits Q4 Pump
Analysts believe the current dip is no cause for concern as it is likely market makers manipulating the market to liquidate heavy price areas. As we can see from the post above, the analyst compared the BTC liquidation map and says that it is interesting to see how $116,500 is gathering some short liquidations after the long liquidation cascade earlier in the week. He says that it may be time to hit short liquidations soon.
Meanwhile, sentiments for October to be bullish are great, and the possibility for the price of BTC to hit new ATH targets is higher than ever. Historically, October has been the most bullish month for Bitcoin (BTC). Based on the responses to the post, most believe a glorious green month lies ahead. If BTC and ETH pump , altcoins will too, leading to the arrival of the long-awaited altseson peak phase to arrive soon.