According to historical data, Bitcoin price has closed green 10 of the last 13 October. This causes the community to refer to October as “Uptober,” a combination of the words “up” and “october,” full of bull messages. Right now, all eyes are on how Bitcoin will achieve this again.
Two weeks until the end of ‘Uptober’
Bitcoin has had a dreadful September, when it slumped from $22,000 to $18,000. The latest situation in October is extremely tight as it is trading with little volatility in a narrow range according to Bollinger Bands. This indicates that a downward or upward movement is coming soon.
October is a good month for BTC gains as it usually closes in the green. BTC price only lost value in October 2011, 2012 and 2018. The rest saw good earnings as well as 2009.
We had all hoped for Uptober for #crypto, instead, it seems we are getting CRABTOBER!!!
Still got two weeks though…
— Lark Davis (@TheCryptoLark) October 16, 2022
In 2009, there were almost a handful of people who knew about BTC. The following year, the whole world recognized Bitcoin with its exploding price. For example, on October 1, 2010, BTC was trading at $0.06 per unit. In the same month, it finally reached $0.20. In October 2010, the value of BTC increased by more than 221%. For the next two years, BTC’s performance in October was lackluster compared to 2010. On October 1, 2011, BTC was trading at $5.14 per unit and closed the month at $3.27, down 36.4%.
Uptober, please.
— Alt Crypto Gems (@AltCryptoGems) October 13, 2022
2011 was the first October when Bitcoin recorded percentage losses over its lifetime. When it started in October 2012, BTC was trading at $12.40. It fell to $10.89 per unit at the end of the month, or 12.2% for the month. After 2012, it didn’t see any percentage loss during the month of October until 2018. In October 2013, it rose 52.27% from $129 to $196.44 during the month. The following year, in October 2014, it started the month at $320.51 and closed the month at $354.70, up 10.66 percent.
Bitcoin 2015-2021 period
Even in the 2015 bear market, BTC saw gains in October as it started the month at $238.26 and closed October at $283.68, a 19.06% gain against the dollar. In October 2016, it gained 14.89%, jumping from $610.89 per unit on October 2 to $701.86 on October 30, 2016. During the 2017 bull run, October was a good month for Bitcoin. It rose 39.74% from $4,403.74 in this period. The following year marked BTC’s first October drop since 2012 as the price dropped 1.76% from $6,602.95 to $6,486.39 per unit.
I was promised an Uptober. Where is it?
— CoinMamba (@coinmamba) October 11, 2022
In 2019, BTC’s October was better as it managed to rise 19.57% more against the dollar. That year, it jumped from $7,988.16 to $9,551.71. In October 2020, after hitting $10,669.58 during the first week, it’s $13,031.17 by October 31st. Thus, it brought a gain of 22.13%. The following year in 2021, BTC rose 27.21% against the dollar, rising to $61,318.96 from $48,199.95 in October. So far, in 2022, half of the month is over and there are only 16 days left of “Uptober”.
$19,400 is enough for a green Uptober
Now with 16 days left, “Uptober” can still close in green. Also, as Bollinger Bands suggests, there are only two ways cryptocurrency can go. The first, of course, is that it drops further from current levels. Or 11.Preparing to close Uptober as expected. As you follow on Kriptokoin.com, BTC is currently trading at $19,186.63. It needs to close above $19,400 for a green Uptober.
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