Is October a Bullish Month for Bitcoin? What Do Historical Data Say? Analyst Pointed to $40,000 for BTC!

Bitcoin With the rise it experienced yesterday, it reached its highest level since August 17 and exceeded $ 28,000.

Increased by more than 4% in the last 24 hours BTC for “uptoberOctober, which is generally known as the rising month, started off fast.

When we look at the performance of Bitcoin by years and months, we notice that declines in certain months and increases in certain months are concentrated.

When we look at the Bitcoin monthly return table above, we can generalize that March, August and September are the months of decline; We see that February, July, October and November are the rising months.

At this point, when historical data is examined, Bitcoin closed October with a loss in only two of the last 10 years, while it closed with an increase in October in eight years.

This situation also means that investors Bitcoin increased its expectations.

Popular analyst commenting on the rise in Bitcoin Michael van de Poppe He pointed out $40,000 for BTC.

“Bitcoin rose to $28,400.

I think we will see some retests of the $27,000-27,500 levels before resuming the rise.

However, breaking $30,000 in Bitcoin opens the doors to $40,000 really quickly.”

As a result, while many indicators show that we are at the bottom in Bitcoin, will there be an upward scenario for BTC again in October? Or will there be a decline? We will be following.

*This is not investment advice.

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