‘Uptober’ rally questioned as crypto markets turn red 9 days out
Bitcoin dropped to 12-day lows on Monday despite analysts hyping “Uptober” rally potential, though not all are confident that next month will be up only.
Crypto pundits are debating whether there will be a crypto rally in October — just 10 days away — after the markets went in an opposite direction on Monday.
Historically, October has been one of the most reliably positive months for Bitcoin (BTC), shooting into the green 10 out of 12 times since 2013, according to CoinGlass, earning it the moniker “Uptober.”
The asset has not seen a loss in October since 2018, when it declined 3.8%. In the bull market years of 2017 and 2021, Bitcoin gained 48% and 40% respectively, in October.