Bitcoin’s ‘Uptober’ Pattern Signals Possible Rally to $124K

[nihalsari]

Bitcoin may be set for another explosive October rally, if historical data holds true. Since 2013, October has delivered an average return of 20%, second only to November’s 46%, according to CoinGlass.

Economist Timothy Peterson highlights that in years when Bitcoin dropped more than 5% in October (2017, 2018, 2019, 2021), rebounds followed in three out of four cases — up to 21% in 2019.

With Bitcoin now trading near $111,700 after dipping to $102,000, a similar 21% recovery would lift prices back toward $124,000, just below its all-time high of $125,100.

[Rimon Khan]

The ‘Uptober’ pattern has a strong track record. If momentum holds, $124K doesn’t look too far-fetched this time.

[Abdul Khan]

October rallies have always been key for Bitcoin cycles. History might just repeat itself again in a big way.

[Rimon Khan]