Dutch Traders Predict October To Become Bitcoin’s “Uptober”

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Last Updated on 3 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Bitcoin started October in spectacular fashion, aiming for $50,000 once again. The Bitcoin Maximalists, the group of hardcore Bitcoin fans with a large following on Twitter and other social media channels, immediately raised their hopes for an October to turn into Uptober or even a bullish last quarter that could see the realization of the 100 $ 000 and more.

Of course, everything would be perfect if the markets weren’t fearful of cryptocurrency facing regulation in different countries.

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Last quarter for Bitcoin: from $ 63,000 to $ 135,000 by the end of 2021

With it’s latest upswing, Bitcoin has once again absorbed the losses from its latest price collapse on September 20th when it came under pressure from a threat of default by Chinese construction giant Evergrande.

The anonymous Dutch quant PlanB recalled in a tweet that Bitcoin prices were exactly on target according to his infamous Stock-to-Flow forecast, closing above $ 47,000 in August 2021, and above. $ 43,000 in September 2021.

Buy the dip

Using his model, he predicted that the world’s largest cryptocurrency would now target $63,000, then $98,000, and finally $135,000, in October, November, and December 2021, respectively. If that comes true, that means we got another 200% of upswing to wait for.

Meanwhile another famous Dutch crypto voice, trader Michaël van de Poppe published a chart showing that if September is historically bearish, the last quarter belongs to the bulls, thus prompting the markets to buy the lows:

September was bad. October is great. November is great. December is awesome.

Could still be a fabulous end of the year.