Crypto bulls are actively maintaining a positive outlook ahead of October, referred to as 'Uptober'. Historical statistics support their optimism.
What is 'Uptober'?
The term 'Uptober', a combination of 'up' and 'October', gained popularity in cryptocurrency Twitter circles around 2021.
Bitcoin Growth Statistics in October
According to historical data, October is often associated with positive outcomes for Bitcoin. Since 2013, there have been only two instances of the cryptocurrency ending the month in the red. In 2014, it dropped by 13%, and in 2018, by 3%. In other cases, as in 2013, Bitcoin surged by 61%, and in 2021, by 40%.
Comparison with September
Conversely, September has been one of the worst months for Bitcoin, with the cryptocurrency showing predominantly negative results from 2017 to 2022. In September 2023, Bitcoin saw a 4% rise, yet community expectations for this month remain low.
Over the years, October has shown positive trends for Bitcoin. Crypto bulls are confident in the cryptocurrency's growth this month, relying on historical patterns.
