Bullish News Abounds This #Uptober! Here Are the Highlights

I hope you had diamond hands during shaky September, because now it’s time to celebrate #Uptober.

After dropping all the way to $41,000 as September came to a close, Bitcoin has bounced back big time. The rest of the crypto market is also happily rising with the tide, and traders have all but forgotten the fear, uncertainty and doubt (FUD) that permeated last month.

The rise was sudden — as if the mere start of the month were meant to push the prices higher:

As the week unfolded, a few other indicators blinked green, adding fuel to already growing bullish sentiment:

The real beauty of this surge, however, isn’t just in the price action. It’s also in the way BTC decoupled from Standard & Poor’s 500 Index at the best moment possible:

So how high could Bitcoin really soar?

Well, the parabolic rise we’ve been talking about for months now isn’t beyond the realm of possibility. That’s not to say we’ve confirmed the start. We haven’t.

So, what are we waiting for? There are a few key indicators, but one of the biggest one will be when Bitcoin makes a new all-time high.

For now, we’re keeping an eye on BTC futures:

The sudden crypto optimism spilled into politics, driving some government representatives to propose that crypto should replace gold.

Separating money and state is a lofty goal — one that could forever transform the financial system. It’s also one that’s necessary to avoid the shockwaves that will surely follow, as it comes crashing down.

Speaking of things crashing down, last week Facebook (Nasdaq: FB) and its entire suite of apps, networks and services went down. This is in stark contrast to the timeless stability of Bitcoin:

While tech giants and governments scramble to stabilize the crumbling pillars of traditional finance and social media, the small country of El Salvador is silently making history:

And what about Cardano (ADA, Tech/Adoption Grade “B-”)? It’s been a while since we’ve covered the coin, and it’s not for the lack of news:

We’ve said it before and we’ll say it again: We have high hopes for Cardano and we congratulate those who bought the dip ... as well as many others who are waiting for this amazing project to surge.

So, what’s next?

As Alex Benfield stated in his article yesterday:

“The market is healthy once again, and we have the all-clear for the next exciting phase of the Bitcoin bull market.”

There you have it. So, follow us on Twitter, read our free daily newsletter when it hits your inbox and look forward to making the most of this bull market.

And if you’d like even more extensive crypto insight, I highly suggest you check out my colleague Marija Matić’s Undiscovered Cryptos. The service is currently sitting on open gains of 246%, 147% and 140%. Click here for more information.

We expect the crypto bull to continue running into the next week (and beyond).

Until then, stay safe and trade well.

Jurica Dujmović

About the Contributor

Jurica Dujmović has been a creator, collector and investor in digital art, including the rapidly evolving non-fungible tokens (NFT) space since its inception nearly a decade ago. He’s also passionate about digital currencies and writes about crypto trends, including what’s new in the Weiss Crypto Ratings, in Weiss Crypto Daily. 

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