According to a crypto expert, the cryptocurrency market is showing signs of stability and some assets are even trending upwards, suggesting a potential epic pump season on the horizon. The expert, known as Ash Crypto, predicts a bullish rally starting in October, which he refers to as “Pumptober,” and continuing for the next eight months. This forecast is supported by factors such as the historical bullish trend in October, Binance founder Changpeng Zhao’s upcoming release from prison, and the record highs in stock markets.
The predictions align with historical performance data, particularly for Bitcoin, which has traditionally seen strong gains in October, with an average return of almost 19%. Recent analysis also points to similarities between Bitcoin’s current movements and those of September 2023, indicating a potentially strong performance for the cryptocurrency this month.
As of the latest data on September 25, Bitcoin was trading at $63,900, showing slight increases in the past 24 hours and the previous week, while managing to minimize losses from the previous month. Overall, positive industry developments and historical data are expected to play a role in driving a pump across most crypto assets. However, the market is known for its volatility, necessitating ongoing research and monitoring of news and predictions related to Bitcoin and the broader industry.