Bitcoin Will Pump October 2021! BTC ETF Coming?
A great way to welcome october into our lives october is real. Q4 2021 is going to be freaking massive. Also in todays, video got some bitcoin mining news, as well as some information on the bitcoin etf, which apparently has a 75 chance of being approved in the month of october, which would definitely make it into october when that happens, holy cow. All of that and more in todays video, my names lark everyday. I make videos talking about cryptocurrency investing. So if thats a topic, you would like to learn some more about, maybe just stay up to date with to make sure you subscribe to the lark davis channel. Also tap on the thumbs up button for the youtube algorithm be super appreciated and if you do want to know, when i put out a new video make sure you click on that notification bell now lets go ahead and turn over to the charts. Bitcoin has come up against resistance. Obviously this was amazing, beautiful beautiful candles. I mean wow bitcoin, just when it starts going. Man holy cow from forty thousand dollars all the way up to forty eight thousand dollars. It gained eight thousand dollars in three days when bitcoin gets going get out of the way man, because it moves fast and its crazy. That being said, we are now at resistance. You can see right here that back in mid september, this 48 400 line was very, very important for bitcoin its exactly where we are right now slamming up against resistance right there.
Obviously, we need to overcome this. To then start talking about hitting on this trend line. Well, get back to that in just a second, but if we fail this attempt and we do get any kind of price retracements watch for buying in around forty five thousand and forty 42 500. Those are potentially interesting areas to put in some bids. If you want to play on potential dips coming up, but we could cross that resistance real easy, i think theres a lot of bullish momentum that we started picking up going into october, but, as always, you want to buy, lower and then sell higher or just buy Bitcoin for your long term, wealth accumulation also also just that i want to take a look here too, at the weekly close for bitcoin. We, of course just have had our weekly close here beautiful green candle right here engulfing our previous red week. Now we are starting off the week in a bit of lackluster way, but six days and 21 hours left in this week. Lots of time for us to go on to challenge that area of resistance break through that area of resistance and then move up to our major area of importance, which would be conquering this green line. You see until we get over that green line. Bitcoin is in a downtrend; it is. It is right now, if we were to see this weekly candle, for example, get us over that green line.
That would mean that the weekly candle would close above 51 000. We shall see if that happens, or not its only a few percentage points away from here, but we do have to get over that sticky resistance here. We do have to get over our stick resistance, just around 50 000 as well, which was of course a very big area for us to try and conquer previously, and then, of course, to actually stay above stay above that green line with a candle closed. Not just a wick but a candle close above that green line to say: hey were breaking out of this downtrend that essentially we have been in since april, and we are now potentially establishing a new uptrend for bitcoin. So that is what im watching in the charts right now by the way, if you want to buy yourself some bitcoin, maybe some ethereum, some cardano some chain links some polka dot. Whatever your fancy might be, you need to get yourself an account over on binance. You can buy crypto using more than 50 different fiat currencies, use the link down below to start your account and youre going to get 10 percent off of your trading fees and up to 700 dollars in bonuses when trading futures over on binance now lets go ahead And get into well the news. The news is that october is here: yes, october has been renamed up. Tober officially check your calendars, its real its happening.
Let the light of the bull mood shine into your life september september was a rough month. You know we finished um the month and not uh the most exciting way, but it was what we expected for september september tends to be a very lackluster month now. Was it a self fulfilling prophecy? Everybody was talking about september is not going to be such an awesome month, so it ended up not being it because of that, or is it just? This is way how it works out. We saw the china fudd coming in. We have this kind of just lull period in the markets. We have these corrections. Now what has tended to happen? What has tended to happen? I feel like everythings a going according to plan, and i know that history does not repeat, but man, oh man, it sure does rhymes. Sometimes you have to remember september 2013. Two bull runs back. We had a big corrective period september 2017. Last bull run. We had a big corrective period: q4 2013, massive gains, q4 2017 massive gains, the uptober doubters will say: oh look: bitcoin cant go over a hundred thousand dollars in q4 sure as heck cant get up to any of those. Crazy numbers were not going to 180 000 or 200 000 bitcoin thats loco man heres the deal bitcoin rallied by over 300 percent in q4, 2013 and in q4 2017. learn your history man. This is exactly what happened now.
You may say: okay lark, but it was so much smaller back then bitcoins not going to rally by over 300 again. Maybe it only does 200 right, but a lot of the people saying having this kind of doubt probably think that bitcoin cant even go over a hundred thousand dollars come on man, adding that much market cap its just too much money its another trillion dollars. When you add to the market cap its just not gon na happen its too much lark its too much, i dont think thats the case at all, because, as you see, the bull runs progress. What do we have happening? We have more money coming into the market. More ways for money to come into the market. If you were trying to buy bitcoin back in 2013, it was no easy feat. It was hard to get bitcoin 2017 a lot easier to get bitcoin, but still still very difficult for a lot of people to get a hold of bitcoin fast forward. Four years we have banks selling bitcoin, we have bitcoin etfs. We have your favorite payment, apps, like paypal, selling, bitcoin, etc, etc. All of that extra money means that we can push the markets higher a 300 rally for bitcoin. It is possible now i dont not saying yes, its definitely going to be 300, but i still think, regardless of the percentage point, whether its 100 200 percent 220, whatever it might be. I still think that q4 2021 is going to be something pretty crazy for the cryptocurrency markets and based on the idea of lengthening cycles.
I think we even see this rolling over into q1 2022 as well, but, regardless of when we get a cycle peak which could come early next year, sometime the run up to moving towards that cycle, peak thats going to be happening in q4, starting here in up October moving into moonvember – and i guess well just call december december – that works uh in other news. Why, oh, why might we get such a mega pump for bitcoin? Well, i think a lot of it depends on a bitcoin, etf being proven yeah, of course, theres other potential catalysts. If facebook comes out tomorrow and says, theyve just bought a billion dollars of bitcoin, which would be like a fraction of their cash. You can bet your bottom dollar that bitcoin would moon. Based on that news. Look! What tesla did tesla moved us from forty thousand dollars to sixty five thousand dollar bitcoin micro strategy, a relatively small and unknown company before they started buying bitcoin moved us from. Basically, ten thousand up to forty thousand dollars. They kicked off the narrative of companies buying bitcoin for their corporate treasuries. A bitcoin etf will indeed pump up the markets. Now. What were likely to see is an approval and then a date when it actually gets released. Potentially, a couple of months later so youre gon na see that initial rev up were gon na, have a big pump on the announcement of a bitcoin etf. Then, through the the months or weeks, leading up to the actual release of a bitcoin etf.
Youre. Going to see bitcoin going up up up up and probably sell the news as soon as the bitcoin etf is actually released again were probably going to get a futures backed bitcoin etf, which is a garbage etf product. Still, though, i think it provides us enough. Bull juice to pump the market, but it doesnt give us that beautiful long term impact of all these people getting into the brokerage account buying a spot, backed bitcoin etf and getting real exposure to bitcoin. Because a futures based bitcoin etf is not giving people real exposure to bitcoin theyre, not actually getting bitcoin theyre getting paper garbage, forgetting you know, wall streets tricks, but regardless of it being a bad etf product, its still an etf product and its still a damn big Deal anyway, this guy from bloomberg hes, giving it a 75 chance of approval in october. Will he be right? I guess we will find out. Certainly the sec has not been very favorable towards spot, backed bitcoin etfs. We have to give the sec a come on man today because they have postponed their decisions on bitcoin, etf applications from valkyrie, kryptoin wisdom and globalx. You have to understand theres, no real good reason for the sec to be delaying their decision on these bitcoin etfs theyre. Just procrastinating, they have no good reason not to approve these bitcoin etfs, the spot, backed ones anyway. The only reason theyre not is because they want to do the cme futures backed etfs, because its good for wall street its really good for the cme whos, going to make truckloads of money off of this.
Not good for regular people great for wall street. But i think again, as ive been saying that a futures backed etf, even though its not the product that i want to see coming to the market, i hope that it will serve as the gateway drug to actually getting a spot bitcoin etf product released in the Usa, in the not so distant future and finally, for today, some light news for you: texas, is becoming or wants to become poised to become a world leader in bitcoin texas. In case you dont, know: ninth largest economy in the world, bigger than brazil, canada and russia. Its amazing amazing how big texas is economically, what an economic powerhouse that just one state in the united states is, and they like bitcoin. They, like bitcoin theres, a push to get more and more um bitcoin mining to come to texas and look so ive been covering the bitcoin mining news for a very long time on this channel over the past couple of years. The majority of the absolute biggest stories around bitcoin mining have been coming out of texas. We now have probably half a dozen mega farms in texas, peter thiels, invested in one bit, maines invested in one. We have publicly traded companies in the usa that are investing in uh bitcoin mining in texas, theyre being powered almost exclusively by renewables, im sure theres, some that are not powered by renewables. We have a heavy heavy mix of renewables in texas, powering bitcoin solar panels, windmills its making texas into a bitcoin mining powerhouse.
If this trend continues, then texas is going to become the the new china in terms of being the leader of bitcoin theyve got the energy theyve got the political uh desire to have it happen within their state. They have the infrastructure being built out. They have companies moving there on mass during this most recent china crackdown. Well, okay, not the most recent ones. The most recent one happened last week during the china crackdown and i think it was april. What we saw was a lot of chinese companies saying that they were moving to texas. I remember one of the ceos of one of the big chinese mining companies posted over on twitter, like yep just landed in texas, enjoying some texas barbecue. They just move man, they just move in chinas loss and its a big loss for china. You have to keep that real theyve thrown out an incredible industry from their country. They could have had all that tax revenue coming in from the bitcoin miners. They could have had all that revenue coming in from the exchanges they threw it all away. They want to basically throw away the next internet opportunity. At least the usa has come out to say: look we dont want to ban crypto. We just want to regulate it. Well make sure it fits within our framework, and that might mean that the crypto industry is going to have to swallow some tough pills. When it comes to cryptocurrency regulation within the united states, we were going to see you know being hard on developers being hard and people trying to launch tokens all the stuff as it has been for a while.
But here we have here we have states innovating within the usa. We have some states that have been putting out legislation recently, trying to welcome the cryptocurrency industry into their states and heres texas, trying to become the world leader of bitcoin mining and its a great fit, because you can see this is average electricity, retail prices, retail right. The the miners end up cutting sweetheart deals and getting much much cheaper power than this, but you can see texas right here, one of the cheapest states in the usa for electricity, which again makes it a great destination for bitcoin miners. There you go there, you go the top news of the day. Your question: do you think that we are going to get a bitcoin etf approved in october, or are we going to have to wait until movember or poor old december? Maybe next year maybe were not even going to get bitcoin etf this year, maybe weve all just been fooled into thinking that the sec is actually going to do their job. At some point, let me know down below in the comment section.