Davinci Jeremie, a pioneer in the cryptocurrency world who famously anticipated Bitcoin's surge back in 2013, recently addressed the current market dynamics in a new video released this Wednesday. He introduced the concept of "Uptober," a term traders use to describe the typically profitable month of October for Bitcoin. Despite historical gains during this month, Jeremie notes that while the overall monthly performance tends to be positive, daily fluctuations are normal.

As of this Wednesday, Bitcoin's price has seen a significant downturn, now nearing $61,300—a drop of 0.85% in the last day. In Brazil, the price remains over R$ 331,000, marking a 1.15% decrease since Tuesday. Jeremie, who once advised viewers to buy at least $1 of Bitcoin—a move that he claims led him to substantial wealth—emphasizes the importance of patience to those newly anxious about the 2024 "Uptober" expectations.

Jeremie attributes the recent market slump partly to the escalating conflict between Iran and Israel, prompting investors to react cautiously as the month begins. He criticizes the unrealistic expectation that Bitcoin should perform strongly every single day of October. "The cryptocurrency market doesn't operate on mere expectations of a bullish month," he remarked, debunking some common misconceptions among traders.

Now boasting over 615,000 followers on his YouTube channel, where he posts nearly 2,000 videos offering daily market insights, Jeremie continues to be a respected voice in the investment community. Despite his reassurances, the market sentiment has shifted to a state of fear, as evidenced by a recent sentiment index survey on CoinMarketCap, which registered below 40, moving from a neutral state into fear as October begins, following a hopeful September.

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