Drawing from historical data and past market cycles, many in the crypto community have been optimistic that October would usher in a bullish trend, coining the term “Uptober.” However, the market has not followed these expectations, with several analysts’ predictions being delayed.
As we approach the middle of the month, the question remains: when will Uptober truly begin, especially for Kaspa (KAS) and Bitcoin (BTC)?
In a video titled “Kaspa: When will ‘Uptober’ begin?” by Tommy Does Crypto, the analyst provides a comprehensive analysis of the current market trends for both Kaspa and Bitcoin. He delves into Kaspa’s recent price movements,highlighting a decline from 16 cents to 14 cents, which he sees as a potential buying opportunity for investors.
The analyst points out that Kaspa is currently at a crucial support level, marking the third time it has hit the 14-cent mark in the past five months. This could indicate that 14 cents might serve as a local bottom for Kaspa.
Additionally, he mentions the potential listing of Kaspa on Kraken, a Tier 1 exchange. While this listing has not been officially confirmed, the analyst speculates that Kraken may be waiting for the right moment, possibly when Kaspa’s price exceeds the level at which Kraken was accumulating.
A listing on Kraken could set off a chain reaction, leading to listings on other major exchanges like Binance. The analyst suggests that this Kraken listing could happen before the end of October, aligning with the anticipated bullish trend for the month.
Shifting focus to Bitcoin, the analyst reviews its historical cycles and recent price activity. He notes that Bitcoin saw a bullish surge at the end of September, driven by Federal Reserve announcements regarding interest rates. However, this was followed by a healthy correction, bringing the price down towards $60,000.
The analyst interprets this correction as a normal occurrence, as Bitcoin has yet to break through its major resistance level.
Uptober Could Start in October or November for BTC and KAS
The analyst suggests that the current downward trend in Bitcoin could be the final bear trap before the market transitions into a bull phase. He predicts that either October or November could mark the beginning of a significant bull run, potentially leading to a new all-time high for Bitcoin before 2025.
He also notes that geopolitical events, such as the recent conflict between Iran and Israel, may temporarily affect Bitcoin’s price. However, he remains confident that these events will only cause short-term market fluctuations.
The analyst supports his bullish stance on Bitcoin with several key indicators, including expectations of lower interest rates
Kaspa has been underwhelming recently, with its price continuing to decline. It has closed bearish for the past three weeks, and this week seems to be following the same trend. The token, which is known for its frequent price spikes, is [giving a disappointing performance](https://captainaltcoin.com/kaspa-kas-price-crashing-is-this-time-to-sell-the-token/) that has concerned its holders.
Holden Blaize, a YouTube channel with over 10,000 subscribers, addresses concerns about [Kaspa’s recent price performance](https://coinmarketcap.com/currencies/kaspa/). Despite a 16% dip over the past month, the crypto analyst remains optimistic about Kaspa’s future, particularly as we approach the end of the year.
Kaspa’s current market cap is around $3.3 billion. The price has been consolidating, which can cause fear in the market, but the analyst believes this is part of a larger pattern.
Although the price came dangerously close to breaking the local low from August, Kaspa has managed to bounce back. This suggests a potential double-bottom pattern, which could lead to a significant price surge.
### Chart Analysis and Technical Patterns
Blaize discusses Kaspa’s 100-day cycle pattern, noting that Kaspa tends to undergo a mini-cycle roughly every 100 days. Historically, each of these periods has resulted in a new all-time high. Based on this analysis, he predicts that Kaspa will hit a new all-time high before December 4, 2024, despite the ambitious 60% climb required.
The crypto analyst highlights several bullish factors that could facilitate this, primarily driven by an anticipated breakout of Bitcoin. When Bitcoin crosses the $80,000 mark, many top altcoins, including Kaspa, are expected to follow suit.
### Future Outlook and Altcoin Season
The analyst [remains bullish on Kaspa’s performance](https://captainaltcoin.com/youtuber-explains-why-hes-buying-kaspa-over-ethereum-kas-price-prediction/) for Q4 of 2024 but tempers expectations, suggesting that any gains might be modest compared to what could happen in early 2025. He emphasizes the relationship between Bitcoin and altcoins, pointing out that Bitcoin’s breakout from its prolonged consolidation phase could trigger a rally for altcoins, including Kaspa.
Blaize believes that Kaspa’s true strength lies in its long-term performance. Having outperformed Bitcoin for over a year, it signals strong potential during the upcoming altcoin season. Despite the recent price dip below 13 cents, he advises against panic, suggesting that Kaspa’s current oversold condition indicates a bottom may be near.
**Read Also: [What’s Next in Ripple vs SEC Case After Appeal Notice, and How Will It Affect XRP Price?](https://captainaltcoin.com/whats-next-in-ripple-vs-sec-case-after-appeal-notice-and-how-will-it-affect-xrp-price/)**
### Kaspa’s Mining, Technology, and Rising Tokenomics Maintain Its Strength
The analyst discusses Kaspa’s increasing mining difficulty due to [its emission schedule](http://chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://kaspa.org/wp-content/uploads/2022/09/KASPA-EMISSION-SCHEDULE.pdf), which allows for more mining initially but tapers off over time. Currently, the project is about 36 months into this schedule, and as mining becomes less profitable, it could create scarcity and positively impact the price.
He notes that Kaspa’s hash rate is rising, indicating that the network is attracting more computational power—an encouraging sign for the blockchain’s health and security.
Holder activity appears bullish, with a significant portion of Kaspa’s supply remaining unmoved for extended periods. Approximately 24.9% of the supply has not been sold in over a year, and around 48% hasn’t moved in over six months. This suggests that holders are accumulating Kaspa rather than selling, indicating long-term confidence in the project.
Kaspa has made significant progress in its technology, achieving 10 blocks per second on its testnet, which is nearing implementation on the mainnet. This advancement could be revolutionary for a proof-of-work system, with Blaize believing it could significantly enhance Kaspa’s price. The potential for smart contracts on Kaspa also excites him; if it can develop capabilities akin to Ethereum or Solana, it could emerge as the preferred blockchain due to its higher security and faster transaction speeds.
The analyst also noted that even amid a broader sell-off in the crypto market, Kaspa’s price action aligns with long-term bullish trends. He expects explosive price movements driven by trends in Bitcoin dominance and the overall crypto cycle.
He praised Kaspa’s development team, technology, and community, reinforcing his confidence in the project. In conclusion, the analyst strongly advised against selling Kaspa at its current price, encouraging holders to consider buying more tokens instead, as he remains optimistic about significant future gains.
