The cryptocurrency landscape often witnesses varying trends in October, traditionally called ‘Uptober’ due to its historical pattern of price increases. This year, however, poses a potential divergence, as renowned crypto figure Ash Crypto signals a possible temporary downturn before a strong rebound. His insights, shared widely on social media, suggest that while the initial weeks may sustain bullish sentiments, a correction mid‑month could challenge individual investors. Nonetheless, he remains optimistic about a potential recovery towards the end of the month.
Are There Signs of a Mid-Month Correction?
Yes, according to Ash Crypto, the first half of October might see the continuation of what is being termed as ‘PUMPtober’. However, he highlights a crucial soft point in the market’s technicals—the four‑day moving average crossover. This could herald a pullback, potentially pulling Bitcoin down to $105,000 and Ethereum to $3,800 around October 15‑20. Investor profit‑taking and liquidity constraints might exacerbate this volatility.
The strategy put forth involves riding out the temporary storm, with a keen focus on purging weaker market participants, thereby stabilizing the market for more sustainable growth. Currently, Ash Crypto has strategically allocated 85 % of his funds into the market, keeping 15 % in reserve for anticipated dips.
Can October End Strong and Guide Q4 Performance?
Ash Crypto envisions a scenario where a bullish breakout could unfold, relying on an escalation of short positions by the month’s end. Potential targets set this rally to push Bitcoin to $150,000‑$180,000 and Ethereum to $8,000‑$12,000. He also predicts that some altcoins might experience remarkable gains, potentially surging 10 to 50 times during Q4.
“We could witness increased momentum towards year‑end, particularly within certain altcoin circles,” notes Ash Crypto.
CoinGlass data supports this optimistic outlook, indicating a 73 % probability of a positive October outcome for Bitcoin, historically earning an average increase of 29 %. Over the past 12 years, Bitcoin often concluded this month in green, reinforcing the current sentiment alongside Ash Crypto’s predictions.
Key takeaways from Ash Crypto’s forecast include:
- •Potential Bitcoin and Ethereum retracement mid‑month.
- •A market ripe for growth post‑correction.
- •Significant gains anticipated for specific altcoins later in Q4.
- •Historical patterns suggest a favorable October performance.
Market participants should remain attentive to both the technical indicators and investor sentiment to navigate October’s potentially volatile landscape and capitalize on late‑month opportunities.