Is ‘Uptober’ A Myth?
Bitcoin started the month of October on a negative note, deviating from what many investors had expected leading up to the month. Bitcoin, which had been on a notable price increase earlier, started to face setbacks as September ended, leading up to the first 24 hours of October.
The first 24 hours of October have been riddled with outflows from the crypto industry. Bitcoin, in particular, fell below $61,000, according to Coinmarketcap, as tensions started to rise in the Middle East. Going by this decline, it has raised questions as to the outlook for Bitcoin in the rest of the month.