**It is exactly 6 days 22 hours when the last dump happened in the market**. It's quite funny to see lots of speculations that what happened on Sunday last week will repeat itself again tonight. **Most were asleep and placed trades on longs, waking bup to see liquidations**. Majority has placed trades on short with the hope that bitcoin will drop to $57k or even more.
It may surprise you to know that there won't be any major dump in the market and it may surge to $64k. This isn't a certainty though as the market is very much unpredictable. Bitcoin traders suggest that the quick price recovery done in the market might indicate a bear trap which tries to liquidate short sellers as experienced traders sell their bitcoin in a controlled manner to temporarily lower the price.
**Here are some news in the market that may guide your decisions as news too contribute to the fall in the market.** We'll also get to see what happened last bull run year if it will repeat historical movement. Now there's a major trend that **If Trump wins presidential election, bitcoin price will surge massively. Let's see some major news.**
**The price of bitcoin actually got to its bear trap 6 days ago and it happened that lost of traders lost thousands of dollars**.. The bitcoin bull-bear Market indicator has flipped back to bullish after the dip below $50k and this was seen 2 days after the dip where the price of bitcoin surge to $61k. This shift in the market indicates optimism and investor sentiment after the price fell to levels not seen since January 3rd which was the last bloodbath.
Bitcoin is still in a bull market as we have it. According to Ju, he said the dip was brief and this was evident when it discounted in only 3 days. At the time of writing, bitcoin is currently at $59k and it's actually retracing backwards. The crypto fear and greed index has bounced back from extreme bearish movement to neutral as the case may be, reading 48%. At the time of writing, BTC dropped from $60k to $58k by a percentage decrease of 3.7%.
**Shorters are now earning in the market while those who long late are holding against losses**. No body knows the next move of the market whether it would create another bloodbath this night. All we know is that it might both pump or dump.
**We are to make informed trading decisions to avoid being liquidated at all means**. As of 6pm when I started creating contents on this, bitcoin was still hovering around $60k but has now dropped to $58k. Will there be any further decrease in price or this is the time to buy if you haven't but don't be overly surprised the market dips again. It's actually possible due to certain bad news and sentiments in the market.
**The founder of the United States investment fund Transform Ventures** said that bitcoin will show a steady movement in October and November as it would be going upwards and this is quite evident historically as portrayed on the screenshot. Historically, these are good months for cryptocurrencies and he also stated that if Donald Trump happens to win the election, the price of bitcoin will surge to $100k.
He also added that bitcoin will not fall below the $50k mark as the Bank of Japan said it will not raise any interest in rates and that investors are once again convinced that bitcoin can be regarded as a Profitable instrument that can bring profits on the long run or in short term.
Let's check this historical chart of last bull run market. From history, bitcoin price fell twice before the final movement of it to the bull run season. Same thing may happen as the first fall was 6 days ago and the second fall may come where bitcoin won't go beyond $50.
It may not repeat history before the main pump happens. Seems like the trend in the market wants to repeat what happened. Let's just see whether it does as expected. This isn't a financial advice to place short trades. It's a guide that will help in making informed decisions. You just have to do so research on this as the market is very unpredictable now. Play wisely.
**_Sreenshots are from my binance app and twitter account._**
> Disclaimer :Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have
