BTC in the Red, Uptober Bull Sentiment Returns

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Bitcoin prices are in the red so far this month, which is a rare occurrence when compared to historical Octobers. 

Bitcoin is down 2% so far this month, which doesn’t sound like much at first glance. However, it has only seen losses in two of the past Octobers since 2013. The first was in 2014 when it shed 13% and the second one came in 2018 when it lost 3.8%. Both were bear market years. August has historically been the worst month for Bitcoin, while October and February have been the best.

This is the third time in the last six years that BTC has been negative halfway through October, observed industry analyst Joe Consorti. All six times, it ended up green by October 31st, he said before adding, “There’s some hopium for you.”


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