Is October a Bullish Month for Bitcoin? What Does Historical Data Say About BTC?

We see that Bitcoin (BTC) and cryptocurrencies have difficulty in raising due to the FED pressure in the global markets and the rises are not permanent.

Many indicators show that Bitcoin is bottoming out and cryptocurrencies need an accumulation process to rise.

Although the lack of risk appetite in BTC, which has accumulated around the $20,000 level for now, annoys investors, we consider it to offer a wide range of opportunities for long-term investors.

Does Bitcoin Love October?

When we look at the performance of Bitcoin by years and months, we notice that the decreases in certain months and the increases in certain months intensify.

Above bitcoin When we look at the monthly return table, if we make a generalization, the decrease in March, August and September in general; We see that February, July, October and November are the months of rise.

BTCWhen we look at the performances of October in the last 12 years, we see that it has increased in 8 years and decreased in 4 years.

Although this situation raises the expectations of investors for October, when we look at the years of decline, we see that these coincide with BTC bear markets.

Considering the fact that Bitcoin is now in a bear market and we are in October, there is a possibility that this year’s October will be more similar to 4-year periods corresponding to bear markets than the previous eight years.

While many indicators indicate that we are at the bottom in Bitcoin, will a bullish scenario be written for BTC in October? Or will we close this month with slight losses around $20,000, in line with the character of bear markets? We will be following.