Welcome ‘Uptober’ – Bitcoin Rallies To A New High For The First Time In Weeks

Welcome ‘Uptober’ – Bitcoin Rallies To A New High For The First Time In Weeks
ôîòî ïîêàçàíî ñ : zycrypto.com

2021-10-3 21:10

Bitcoin and other cryptocurrencies make significant gains within the first few hours of October.This is in stark contrast to the doldrums experienced towards the close of September.Bitcoin has always performed remarkably in October and things are looking positive for the asset class.

Bitcoin investors will be glad to bid September goodbye after nearly a month of unimpressive prices. October has started with a massive bang sending Bitcoin and other cryptocurrencies soaring to new highs.

Goodbye Lows, Welcome Highs

Bitcoin climbed by over 10% in under 24 hours to reach $48,436 on the first day of October. For investors around the world, Uptober is in full gear and promises to be a positive month for the asset.

BTCUSD Chart By TradingView

The immediate reason for the spike in prices has been linked to a short squeeze leading to liquidations of up to $270 million in less than one hour. Cryptocurrency enthusiasts are still basking in the euphoria of Federal Reserve Chief, Jerome Powell telling congress that there is “no intention to ban cryptocurrencies”. On the other side of the world, Iran lifted the ban on Bitcoin mining while El Salvador successfully mined its first bitcoin through the use of geothermal energy from its volcanoes.

Other cryptocurrencies were not left out from the price rally. ETH, ADA, XRP, and several top cryptocurrencies notched impressive gains amid the general uptrend. This global crypto market gained 5%, giving it a market capitalization of $2.09 trillion.

October Is Bullish For Bitcoin

Historically, Bitcoin finishes October on a high note with average gains of 13%. This makes it one of bitcoin’s most productive months, earning it the moniker – Uptober. October 2020 is widely considered by several analysts as the start of the bull run that culminated in bitcoin reaching an all-time high of $64,863 in April.

It remains somewhat early to predict if this could be the start of a bull run for the asset but analysts believe that this would be a decisive month for the asset. Commodity strategist at Bloomberg Intelligence, Mike McGlone expressed his belief that October could usher in the first US Bitcoin ETF. Assuming his predictions are accurate, it could open the floodgates for more institutional investors, leading to a sharp increase in the price of the asset.

Why It Matters

September was not the best of months for Bitcoin but October presents the perfect opportunity for investors to recoup the incurred losses. If history repeats itself, Bitcoin can expand its market share that currently stands at 42%.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 95847.08 (+0.43%)
Îáúåì 24H $40.675b
Èçìåíåèÿ 24h: -1.78 %, 7d: -7.04 %
Cåãîäíÿ L: $95217.68 - H: $97458.26
Êàïèòàëèçàöèÿ $1897.745b Rank 1
Öåíà â ÷àñ íîâîñòè $ 47340.34 (102.46%)

bitcoin october close september contrast doldrums experienced

Èñòî÷íèê: zycrypto.com

bitcoin october → Ðåçóëüòàòîâ: 126


Bitcoin Investors Set Sights on a Prosperous October as BTC’s Historical Trends Signal Bullish Potential

Everyone is talking about how Bitcoin might perform in October. @WhaleChart, a top expert in cryptocurrency, shared some info about how Bitcoin has done in past Octobers, and it’s got a lot of people excited! Bitcoin’s October Performances: From this info, it seems like Bitcoin has had many good Octobers, with a few not-so-good ones […] The post Bitcoin Investors Set Sights on a Prosperous October as BTC’s Historical Trends Signal Bullish Potential appeared first on CaptainAltcoin.

2023-9-30 15:30


Ôîòî:

MicroStrategy Rakes In Over $2 Billion From Its Bitcoin Holdings In October

Key takeaways Institutions secure huge ROI following Bitcoin’s bullish October run. MicroStrategy has gained over $2 billion in October alone on its Bitcoin holdings. With the surge in the price of Bitcoin in October, many institutions that invested in the top cryptocurrency have recorded massive gains on their holdings. Worthy of note among them is […]

2021-10-29 21:43


Bitcoin’s Recent Bull Run Different Than October 2017: Payments, Volumes, Fees, Hashrate And Social Stats

Bitcoin’s Recent Bull Run Different Than October 2017 Bitcoin has performed surprisingly well this week, surging to over $5,000. The last time it was this high was in October 2017. For those who are skeptical – and there are a number of them – several differences exist between the past’s bull run and this week. […]

2019-4-4 20:15


Indian Officials Consider Ban on “Private Cryptocurrencies”

Agents of the Indian government have met to formally discuss a possible ban on private cryptocurrency holdings in the nation. On October 30, 2018, the Financial Stability and Development Council (FSDC) issued a press release detailing their recent meeting where they “reviewed the current global and domestic economic situation and financial sector performance.

2018-11-1 22:37


CryptoCompare Crypto Market Data Provider Launches New Mobile App for Bitcoin Enthusiasts

The recognized and popular cryptocurrency market data provider CryptoCompare, announced on October 30, that it launched its mobile application after an increased demand from the crypto community. We launched our mobile app today – to give traders and investors the ability to monitor live #bitcoin and #altcoin pricing data, track #cryptocurrency investments through multiple portfolios […]

2018-10-31 21:25


Ôîòî:

Why Did Bitmain’s Antpool ‘Stop Mining’ SegWit Blocks?

Antpool, the Bitcoin mining pool owned by hardware manufacturer Bitmain, has stopped mining Segregated Witness (‘SegWit’) blocks. A Question Of ‘Charity’? In a move which has sparked suspicion among cryptocurrency figures, data from the past seven days of block mining shows Bitmain mining blocks of under 1 megabyte – smaller than SegWit blocks mined by other pools.

2018-10-31 19:00


Ôîòî:

Mac Cryptocurrency Price Tracking App Installs Backdoors to Control Host Computer

A Trojan pretending to be a macOS cryptocurrency ticker called CoinTicker was discovered installing backdoors on the computers of unsuspecting users, Bleeping Computer reported on October 29, 2018. Mac Cryptocurrency Price Tracker Caught Installing Backdoors Dozens of cybersecurity publications sounded the alarm over another cryptocurrency malware that was discovered on October 29, after a Malwarebytes forum user reported a trojan.

2018-10-31 18:00


JP Morgan’s Jamie Dimon Does ‘Not Give a Sh*t’ About Bitcoin (BTC)

The Chairman and CEO of JP Morgan Chase, Jamie Dimon, is once again on the spotlight due to his recent statements about Bitcoin (BTC). Speaking on Tuesday, October 30th, at the Axios conference in Lost Angeles, Dimon stated that he did not give a sh*t about Bitcoin after being asked why he changed his mind […] The post JP Morgan’s Jamie Dimon Does ‘Not Give a Sh*t’ About Bitcoin (BTC) appeared first on Ethereum World News.

2018-10-31 17:30


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.