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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Will October Be Bitcoin’s Golden Month Again? A Dive Into A Decade Of Bullish Trends

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Bitcoin (BTC)

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Bitcoin, the leading digital currency, has often seen its fortunes rise with October’s arrival, and historical data points towards the possibility of a similar trend this year.

Over the past decade, Bitcoin’s October performance has been notably bullish, leaving many investors hopeful for a turnaround after recent challenging months. But while the past does offer a ray of optimism, the unpredictable nature of crypto markets means that the future remains uncertain.

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Bitcoin (BTC)

Bitcoin Eyes Turnaround: Could A New All-Time High Be On The Horizon? Analyst Predicts

1 year ago

A Decade Of October Gains For Bitcoin

Influencer Crypto Tony recently shed light on Bitcoin’s historically positive performance in October. Sharing a decade-long chart of Bitcoin’s track record, Tony highlighted that eight of the past ten years have seen Bitcoin close October with commendable gains.

8/10 OUT OF 10 OCTOBERS HAVE BEEN BULLISH FOR THE MARKETS

We are still only 4 days in, plenty of time to see a nice bounce in the month and close green pic.twitter.com/xM4EhD7Jrs

— Crypto Tony (@CryptoTony__) October 4, 2023

The data speaks for itself; in 2021, Bitcoin soared by 39.93% in October, while 2020 saw an increase of 27.7%. In 2017, October ended with a bullish surge of 47.81%, and a 60.79% leap in 2013 is the most significant October gain yet.

Bitcoin (BTC) monthly gains
Bitcoin (BTC) monthly gains over the past years. | Source: Crypto Tony

It is worth noting that this analysis offers more than just numbers. It paints a picture of optimism for many in the crypto community, fostering hope that this October would again be favorable for Bitcoin.

Tony, bullish in his perspective, remarked that although Bitcoin’s current price may not seem overly promising, it’s worth remembering we are in the early days of October. Thus, there’s ample opportunity for the market to rebound.

Past Performance Vs. Future Predictability

However, some in the community advise caution, as with any trend analysis. Relying purely on historical data to forecast future market movement can be a precarious strategy.

An anonymous user on platform X (formerly known as Twitter) voiced such concerns, arguing that while the future often exhibits patterns reminiscent of the past, it doesn’t necessarily mirror it. “Skeptical about predicting the future based solely on past results. The future often rhymes with the past but isn’t an exact repeat,” they commented.

Notably, despite these reservations, investors often consider the historical positivity Bitcoin showcased in October. Whether or not the crypto will adhere to its previous patterns remains to be seen. Meanwhile, Bitcoin has shown quite an upward trajectory over the past week.

Related Reading

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Bitcoin In Spotlight: Robert Kiyosaki Questions BTC’s Future Amid Citibank’s Blockchain Play

1 year ago

Notably, the top crypto has surged by 5.2% in the past 7 days and 1% in the past 24 hours, bringing its current market price to trade at $27,699 at the time of writing with a market capitalization of $9.6 billion.

Bitcoin (BTC) price chart on TradingView
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from iStock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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