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As the leaves are falling down, crypto is moving up which is exciting news for those who are holders of Bitcoin and other cryptocurrencies.
The altcoin rally started around the end of last week, with alternative cryptocurrencies such as Ordi (the new bitcoin alt) and ethereum blockchain competitor, Solana hitting 10% gains.
Fast forward to last night, Pepe was pumping and was up 38% in the last 7 days. Other coins such as Matic were up close to 25% and Ethereum creeped in at around a 7% increase landing at around $1800 in the early hours of this morning.
Some crypto crazies have taken to twitter today claiming that this could be the start of the profitable bull run, however other technical traders claim that is a typical pattern seen every October in the crypto charts, which some term “Alt Coin October”
As we know bitcoin is the daddy of all cryptocurrency and usually its movements set the trend for the price of other cryptocurrency. Every other headline on Bitcoin recently has mentioned either the anticipated approval of Black Rock’s spot ETFor the Bitcoin halving which is due to take place Q2 2024.
These significant events in the market are expected to drive the price of Bitcoin over the 12 months which follows and new all time highs of well over $65,000 USD are expected. This is not financial advice!
Although these events are on the minds of every crypto trader, it seems that this seasonal pump is a result of the typical October crypto play and we probably won’t see all time highs for Bitcoin for at least another 6–12 months.
What do you think of this Altcoin season? I would love to hear from you on social so remember to follow me on X @ Lorae Kn and Lorae K on everything else
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