Some cryptocurrency bulls are apparently certain Not to sell your holdings before “Uptober”.
They are still optimistic about the performance of Bitcoin’s fourth quarter, urging investors not to complicate seasonality too much.
“Uptober” is up to your name?
The term “uptober”, which is obviously a mixture of “UP” and “October”, initially popularized on cryptocurrency twitter.
According to historical data, October has been one of the most successful months for Bitcoin due to the consistency of positive yields.
Do the data support Bitcoin Bulls’s enthusiasm? Absolutely. Since 2013, there were only two months when Bitcoin finished October in El Rojo (2014 and 2018). In 2014, cryptocurrency decreased by 13% in the middle of a brutal bearish market triggered by the collapse of the exchange of Mt. Gox and the regulatory scrutiny. In October 2018, Bitcoin dropped 3%, remaining in the middle of another market capitulation that occurred after the euphoria driven by ICO at the end of 2017.
The rest of the months were firmly in green. In 2013, for example, Bitcoin recovered up to 61% in October when cryptocurrency began to attract more general interest.
In 2021, Bitcoin also increased by huge 40% in October due to exaggeration around the approval of the first ETF BTC based on futures in the US. UU. These products arrived years before the ETFs of Spot.