Analysts explained why one should not be pleased with the big pump of Bitcoin at the beginning of October.

After the rise in early October, a big pump of Bitcoin may occur.
Analysts believe that the positive trend may be triggered by Tether's additional issuance.
The market is still highly manipulable.
CEO SwanDesk and financial analyst Jacob King stated that the recent rise in Bitcoin was not due to organic demand, but rather due to the issuance of Tether stablecoin. He mentioned that the company "almost printed $2 billion dollars out of thin air" and injected it into Bitcoin to artificially maintain the price.
Jin believes that this process is disguised as a general rebound in the stock market, but in reality, it is large-scale manipulation.
"This is a huge game of musical chairs. You don't want to be the person without a seat when the music stops," he emphasized.
Popular crypto analyst Ash Crypto also expressed a similar view. He believes that the rise at the beginning of October is just part of what the community calls "PUMPtober." Traders refer to this traditional market uptrend in October as "PUMPtober." However, as Ash Crypto pointed out, the current "PUMPtober" may end with a strong correction. The analyst predicts that Bitcoin could potentially drop to $106 000, while Ethereum could fall to $3 800 or lower. He indicated that this decline would mainly target the long positions of retail players being liquidated. This phase could last until mid-October.
Additionally, when market sentiment turns bearish and traders believe that "PUMPtober" is cancelled, new momentum may emerge. According to Ash Crypto, large-scale short accumulation and confidence in the bear market will create conditions for a reversal. Therefore, in the last ten days of October, the market may experience a parabolic rise, setting the tone for the fourth quarter.
#十月加密市场预测