{"id":12772,"date":"2021-10-02T13:54:25","date_gmt":"2021-10-02T13:54:25","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/octobers-historical-bitcoin-price-trend-extends-hope-for-a-renewed-bull-run-to-end-the-year\/"},"modified":"2021-10-02T13:54:25","modified_gmt":"2021-10-02T13:54:25","slug":"octobers-historical-bitcoin-price-trend-extends-hope-for-a-renewed-bull-run-to-end-the-year","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/octobers-historical-bitcoin-price-trend-extends-hope-for-a-renewed-bull-run-to-end-the-year\/","title":{"rendered":"October\u2019s Historical Bitcoin Price Trend Extends Hope for a Renewed Bull Run to End the Year"},"content":{"rendered":"

Bitcoin logged price losses once again for the crypto asset\u2019s fifth consecutive September in its lifetime, but as soon as the month ended, billions of dollars came back into the crypto economy. Metrics show that while September has consistently been a bad month for bitcoin, October, on the other hand, has traditionally been a good month for bitcoin since 2013.<\/strong><\/p>\n

Bitcoin Has Been Profitable in October 77% of the Time<\/h2>\n

In 2020, the price of bitcoin (BTC<\/a>) closed the month of September at around $10,750 per unit but the following month, BTC<\/a> spiked 25% to roughly $13,450 per unit. This year, September has been dreary price-wise, and many crypto proponents have asked to be woken up when \u201cSeptember ends<\/a>.\u201d On September 26, Civic co-founder Vinny Lingham wrote<\/a>: \u201cThis feels like September 2017 again\u2026 Who remembers what happened next?\u201d<\/p>\n

On October 1, 2021, BTC<\/a> surged from $43,500 per unit to Friday\u2019s high of $48,500 per BTC<\/a>. That\u2019s an increase of around 11.49% and the spike happened very quickly at around 3 a.m. (EST) in the morning.<\/p>\n

Prior to July and August, BTC<\/a> saw roughly three months of negative returns, and in September prices once again slipped into the negative range. The downward drop was blamed on China cracking down on bitcoin (BTC<\/a>) and cryptocurrency exchange for the seventh time since 2013.<\/p>\n

Bitcoin also saw losses on the day El Salvador adopted the cryptocurrency as legal tender and furthermore, BTC<\/a> slid when the Evergrande real estate crisis shook the global economy.<\/p>\n

While September Was Sluggish, Institutional Bitcoin Products Saw Some Upside<\/h2>\n

All of these dips took place after BTC<\/a> reached a high of $52K before September started and crypto markets looked seemingly bullish at the time. While September prices were not so hot, metrics from a recent Cryptocompare report<\/a> showed that institutional products tied to BTC<\/a> saw some upside.<\/p>\n

\u201cBitcoin-based products saw the highest level of inflows out of any asset, averaging $31.2 million per week,\u201d Cryptocompare\u2019s research details. \u201cThere could be upside going into the last quarter of 2021.\u201d<\/p>\n

While BTC<\/a> has neared the $50K zone on October 1, the crypto asset has some resistance to fight at the $50K handle and even more so when it reaches $53K. Moreover, as bitcoin (BTC<\/a>) has seen profitable increases in value during the month of October since 2013, the months of November and December have seen much larger spikes in value.<\/p>\n

What do you think about bitcoin\u2019s performance during the month of September and the trends tied to bitcoin\u2019s October performances during the last few years? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nMarket Updates, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, Bitcoin Price, bitcoin prices, BTC, Historical BTC Prices, market updates, Markets, October, October BTC Prices, October Prices, Price Rise, price spike, Prices, September, September 2021<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin logged price losses once again for the crypto asset\u2019s fifth consecutive September in its lifetime, but as soon as the month ended, billions of dollars came back into the crypto economy. Metrics show that while September has consistently been a bad month for bitcoin, October, on the other hand, has traditionally been a good…<\/p>\n","protected":false},"author":0,"featured_media":12773,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12772"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12772"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12773"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}