Many in the crypto space have been eagerly awaiting “Uptober,” a term coined to represent an anticipated bullish October. However, as we near the middle of the month, predictions of a strong start have been delayed, leaving traders wondering: when will the anticipated uptick for Kaspa (KAS) and Bitcoin (BTC) finally begin?
In a recent video titled “Kaspa: When will ‘Uptober’ begin?” by analyst Tommy Does Crypto, he provides an in-depth analysis of market trends for both Kaspa and Bitcoin. Here’s what you need to know:
Kaspa (KAS)
The analyst notes that Kaspa recently dipped from 16 cents to 14 cents, presenting a potential buying opportunity for investors looking to get in at a discount. Importantly, the 14-cent level has proven to be a key support level, marking the third time Kaspa has reached this threshold in the past five months. This indicates that 14 cents may represent a local bottom for Kaspa, offering a solid entry point for those interested.
He also mentions the possibility of Kaspa being listed on Kraken, a Tier 1 exchange. While no official announcement has been made yet, the analyst speculates that Kraken may be waiting for a price surge before listing the token. A Kraken listing could be a catalyst for Kaspa, potentially sparking listings on other major exchanges like Binance. The analyst expects this to happen before the end of October, which could align with the bullish momentum anticipated for the month.
Bitcoin (BTC)
Turning to Bitcoin, the analyst highlights its historical price cycles and recent movements. After experiencing a bullish spike in late September, partly driven by Federal Reserve interest rate announcements, Bitcoin corrected down to around $60,000. This correction is viewed as healthy, given that Bitcoin has yet to break through its major resistance level.
The analyst believes that this downward trend may represent a final “bear trap” before Bitcoin enters a new bull phase. He predicts that either October or November could mark the beginning of this bullish run, with the potential for Bitcoin to reach new all-time highs before 2025.
He also acknowledges geopolitical factors, such as the ongoing conflict between Iran and Israel, which could temporarily impact Bitcoin’s price. However, he remains confident that these events will only have short-term effects. The analyst supports his bullish outlook with key indicators like expectations for lower interest rates, a weakening dollar, and a rise in the Global Liquidity Index—factors that could drive capital into Bitcoin and other risk assets.
Uptober Outlook: October or November?
According to the analyst, Bitcoin’s historical four-year cycle suggests that bull markets often begin in October or November, following a halving event. With Bitcoin’s most recent halving occurring in April 2024, he expects a significant bull run for the crypto market in late 2024, extending into early 2025. October or November could be the starting point of this aggressive upward trend, with Bitcoin leading the charge.
What About $LUNAR?
As excitement builds for Kaspa and Bitcoin, don’t overlook $LUNAR, a revolutionary token designed to power in-game economies and future-proof investments. Whether Bitcoin is surging or correcting, $LUNAR offers a unique opportunity for investors to diversify their portfolios and tap into the growing world of Web3 gaming. With exciting developments on the horizon, $LUNAR is poised to thrive in both bullish and bearish markets.
For more updates on Kaspa, Bitcoin, and $LUNAR, visit the official $LUNAR website and stay ahead of the curve.
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