BTC price action regains strength in anticipation of Wall Street trading
As September draws to a close, speculation is beginning to emerge as to what may happen to Bitcoin price action in October, such is the appreciation of some analysts as Bitcoin price will reach USD 30,000 in October.
According to information released by William Suberg, "BTC price hits USD 27,000 in new rally, this according to data from Cointelegraph Markets Pro and TradingView tracked BTC price action as bulls gathered strength to reach USD 26,823."
For Suberg, "The 2% jump to near-weekly peaks came as market commentators were already watching the thin upper resistance, with a breakout in play should it fail to rebound"
For "cryptocurrency traders dodge massive liquidations, CoinGlass data confirms that short position liquidations remain modest, with about USD 13 million in BTC short positions being liquidated, while the cross-cryptocurrency tally amounted to USD 39 million."
In my opinion already the Bitcoin price action has lateralized enough in this important area, so, it is not out of the question to see a significant price rebound in the month of October. I would like to know your opinion on this.
SOURCES CONSULTED
Cointelegraph. Bitcoin price to $30K in October, says analyst as BTC price climbs 2%. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
Historically the bullrun usually build up from October but the particular time in the month is what is not predictable. The global market is currently up by 1.5% with a global mcap of over $1.1B indicating a surge with more investors getting confident and anticipating that there will be turn of events in October. Personally, I can't advise to go short or long ATM but the next couple of days will decide if we will see $30k in the month of October.
Other factors need to play out for BTC to easily hit such price. Consider Gary's sacking, anticipated BTC ETF approval, halving price history, and Bitquant price prediction. These factors could ignite a bullish October or bullish 2023 ending.
Oh what a nice insight, if all this could play out as expected, we could be expecting a good end of the year and a blast in 2024. But in the meantime, it is still very important to understand the market and play safe hence the reason I still depend on some elite traders and copy there trades.
So you're into copy trading which I've tried but don't seem to give the desired ROI as I expected. Infact, I couldn't say I gained anything significant.
Perhaps you didn't DYOR well, there are factors one must consider before copying any trader, some of them are the traders ROI, AUM, winning rates, number of followers e.t.c, this are what gives you signals as to whether the trader is doing well. The exchange you use also play a great role actually, there are several exchanges that offer copy trading like Bitget, Bybit and MEXC but I use Bitget because it is the largest copy trading platform and has high liquidity for this features, they also have over 110k elite traders, the highest in the industry which gives users a wide variety of traders that align with their investment goals. It has actually been a smooth ride for me and perhaps you if you need any more insight that could help you, don't hesitate to ask.
I personally haven’t tried it out myself, my friend said it’s beneficial for her since she has other offline investments that requires her attention.. will try it out and see..