This happened at the earliest possible time that I thought it would. October 25. I'm taking this as a sign that November is going to be an amazing month. I keep wondering if I should commit to not taking any gains in November and hope the correction is in December like it usually is. For now just rolling with the punches.
I thought the dip to $7500 was late and didn't really make a lot of sense. It acted as the springboard to get us past resistance exactly one month after the Bakkt launch dump.
This bump up is a small taste of what's to come. We were at the absolute bottom right there at $7500, and there is an entire winter pump ahead of us. I'm continue to predict that Bitcoin will breach all time highs this November. I imagine such a thing would lead to a lot of FOMO during December for that big pump followed by correction.
I was also impressed by the 3% Bitcoin dominance spike. This means that a lot of the money got dumped directly into Bitcoin. However, the trading bots go both ways, and it looks like that splash has landed on quite a few of the other networks.
If Bitcoin continues to gain dominance I'm going to assume that it's being used as a hedge against the impending global economic crisis. I suppose the higher Bitcoin dominance gets the more I'll believe the legacy economy is about to implode. I guess we'll see. Ideally it would be nice to not have to deal with such a wildcard.
All around pretty weird day for me on multiple fronts.
