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Abstract

final phase of the bull run.</p><h2 id="263d">This Was Always Going To Happen</h2><p id="4aad">I warned you all that Bitcoin was set to pop just a few days ago in <a href="https://readmedium.com/is-a-200k-bitcoin-by-the-end-of-the-year-bearish-7d0b364614e1">this</a> story. October is a historically good month for BTC (hence Uptober). In fact, Q4 is good generally. September has a reputation for being a red month, so Bitcoins performance thus far seems nominal.</p><p id="5e42">Check out the chart below from the bull run of 2013. You can see that it started to pick up the pace at the start of October and ended spectacularly in December.</p><figure id="02c4"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*nJSoZ6XlNySJ1D98woiImw.png"><figcaption>CREDIT: Image captured by author from TradingView (Bitstamp chart, daily candles)</figcaption></figure><p id="0d8b">It would be reasonable to expect this upwards momentum to continue over the coming months. With a potential blow off top to occur sometime around the new year (it is also possible that the market peak occurs in the spring too).</p><h2 id="b681">More Positive News</h2><p id="6462">Jerome Powell (Chairman of the FED) was asked about his intentions to ban Bitcoin and he confirmed that they have <a href="https://www.nasdaq.com/articles/federal-reserve-chair-jerome-powell%3A-u.s.-has-no-plans-to-ban-bitcoin-and-crypto-2021-09">no such intentions.</a></p><blockquote id="3dbb"><p>During the hearing, house rep, Mr Budd asked the chairman,</p></blockquote><blockquote id="0d75"><p>“So Mr. Chairman is it your intention to ban or limit the use of cryptocurrencies like we’re seeing in China?”</p></blockquote>

Options

<blockquote id="2015"><p>Jerome Powell responded “No”</p></blockquote><blockquote id="e05b"><p>Mr Budd asked his question again,</p></blockquote><blockquote id="756e"><p>Mr Budd “But you have no intention to ban them?”</p></blockquote><blockquote id="b824"><p>Jerome Powell “No intention to ban them”</p></blockquote><p id="ea50"><a href="https://cointelegraph.com/news/sec-extends-four-bitcoin-etf-deadlines-by-45-days">An ETF</a> is on the horizon too. The deadline has been extended by 45 days so should be concluded in mid November (beautiful timing if you ask me).</p><p id="4147">The new ETF could be listed on the national US exchange and will give traditional investors exposure to the crypto market.</p><p id="4bbb"><b>Uptober is upon us, enjoy!</b></p> <figure id="9463"> <div> <div> <img class="ratio" src="http://placehold.it/16x9"> <iframe class="" src="https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=a19fcc184b9711e1b4764040d3dc5c07&schema=twitter&url=https%3A//twitter.com/btc_archive/status/1443914898371715114&image=https%3A//i.embed.ly/1/image%3Furl%3Dhttps%253A%252F%252Fabs.twimg.com%252Ferrors%252Flogo46x38.png%26key%3Da19fcc184b9711e1b4764040d3dc5c07" allowfullscreen="" frameborder="0" height="281" width="500"> </div> </div> </figure></iframe></div></div></figure><p id="f2ab">Delilah Brass</p><p id="a9f3">October 2021</p><h2 id="4933">P.S</h2><p id="038b">A note for Mr Musk, please resist the urge to Tweet about anything Bitcoin related, just focus on the rockets…No one wants to buy a Tesla with Bitcoin anyway!</p></article></body>

BITCOIN

What The Hell Just Happened To Bitcoin?

Uptober is here!

Space suits on boys? I hope so, because we’re going to the moon!

After what feels like an eternity of dumps and side ways action, Bitcoin is now engaging her rocket boosters. Yesterday (01/10/21) BTC managed an insane rally. In less than five minutes, the price increased by $2000. The rally didn’t stop there either. Bitcoin has continued to make significant gains throughout the day. After starting the day at a low of just over $43k, we ended the day sitting at over $48k. That’s a staggering $5000 in just one day.

CREDIT: Image captured by author from TradingView (Bitstamp, daily chart)

This is by far the best daily candle Bitcoin has produced in months. We haven’t seen a day as good as this since the start of the year. So to say it is welcomed is an understatement.

Market sentiment is now turning and this is great news for the entire crypto space. It potentially marks the end of the dips and the start of the final phase of the bull run.

This Was Always Going To Happen

I warned you all that Bitcoin was set to pop just a few days ago in this story. October is a historically good month for BTC (hence Uptober). In fact, Q4 is good generally. September has a reputation for being a red month, so Bitcoins performance thus far seems nominal.

Check out the chart below from the bull run of 2013. You can see that it started to pick up the pace at the start of October and ended spectacularly in December.

CREDIT: Image captured by author from TradingView (Bitstamp chart, daily candles)

It would be reasonable to expect this upwards momentum to continue over the coming months. With a potential blow off top to occur sometime around the new year (it is also possible that the market peak occurs in the spring too).

More Positive News

Jerome Powell (Chairman of the FED) was asked about his intentions to ban Bitcoin and he confirmed that they have no such intentions.

During the hearing, house rep, Mr Budd asked the chairman,

“So Mr. Chairman is it your intention to ban or limit the use of cryptocurrencies like we’re seeing in China?”

Jerome Powell responded “No”

Mr Budd asked his question again,

Mr Budd “But you have no intention to ban them?”

Jerome Powell “No intention to ban them”

An ETF is on the horizon too. The deadline has been extended by 45 days so should be concluded in mid November (beautiful timing if you ask me).

The new ETF could be listed on the national US exchange and will give traditional investors exposure to the crypto market.

Uptober is upon us, enjoy!

Delilah Brass

October 2021

P.S

A note for Mr Musk, please resist the urge to Tweet about anything Bitcoin related, just focus on the rockets…No one wants to buy a Tesla with Bitcoin anyway!