Uptober is in danger, keep your eyes open
Since years ago October has been the best month for investments, bullish movements were very likely and it was something that could make you a lot of money. However, that premise is being affected by a certain international fact that is happening. The biggest bank known as Credit Suisse is possibly close to bankruptcy, so if something like this happens, it will probably end up throwing out of the window all the expectations for the end of 2022.
This type of situation has already happened, and we have seen that the domino effect that is generated in the market when a giant company falls is totally devastating. Something similar we could see with what happened with Anchor protocol of LUNA, once it was ruined and left millions of investors adrift, the market suffered an incredible fall due to all the losses that were added to the fear and mistrust that existed.
Since then, due to the way the economy continues to weaken, it has been very tough to recover the market to the way it was before.
October has always been a promising month, but we have to take into account that we are still in a market without a clear direction that at the moment has more affinity to be bearish. The news is something that we cannot predict, anything could happen a few days from now, what should be avoided is to get carried away by fear and not to make impulsive sales.
It is true that previously there have been broken banks of giant banks such as Lehman Brothers, which left great damage to the global economy. Without going too far, it also happened with Evergrande, sinking more and more the market and making us get to this point where we are now, however, what is happening with Credit Suisse is not going to happen to a bigger thing, many of the media only seek to generate fear and then take advantage of the situation. When the covid pandemic started, many media made it look more serious than it seemed, there was a lot of misinformation and this helped governments to keep more control over the population.
There is still plenty of time to recover this month of October, the most important days are between 20 and 25, before the ECB and BOJ meetings then we would have to wait for the FED to meet again in November to give us information on inflation and most likely to raise interest rates.
In conclusion, the market may be affected by what is happening with Credit Suisse, however, they are already working on it, and although we are still in a very unfavorable economic period, I do not see them in bankruptcy. But in case it happens, it may be the trigger for Bitcoin to sink towards 10K**.
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