Let's calm down!!! Now everyone is bullish because October arrived and BTC has been bullish ALMOST always, but let's look at the data
2014
Price at the beginning of October: $378
Price at the end of October: $338
Behavior: Bitcoin was in a bear market after the 2013 bubble, trending down in October.
2015
Price at the beginning of October: $240
Price at the end of October: $327
Performance: October was the beginning of an upward trend that would culminate in 2016, with a significant increase towards the end of the month.
2016
Price at the beginning of October: $608
Price at the end of October: $700
Behavior: The Bitcoin market began to show signs of a bullish rally, driven by the expectation of the halving that would occur in 2017.
2017
Price at the beginning of October: $4,371
Price at the end of October: $6,468
Performance: A year of great growth for Bitcoin, with October seeing a strong price increase. This year would end with the historic rally in December, when BTC reached almost $20,000.
2018
Price at the beginning of October: $6,600
Price at the end of October: $6,317
Behavior: Bitcoin was in a correction after the 2017 bull market, and October was no different, with a slight drop in price.
2019
Price at the beginning of October: $8,300
Price at the end of October: $9,200
Performance: October showed a slight recovery after a fall in the previous months, with optimism ahead of the 2020 halving.
2020
Price at the beginning of October: $10,800
Price at the end of October: $13,800
Performance: October was one of the months that marked the beginning of a major bullish rally, driven by institutional interest and expansionary monetary policy in response to the pandemic.
2021
Price at the beginning of October: $43,790
Price at the end of October: $61,300
Performance: An extremely bullish October in the midst of the 2021 bull cycle, where Bitcoin was preparing to reach new all-time highs in November.
2022
Price at the beginning of October: $19,300
Price at the end of October: $20,600
Performance: The market was in a bearish cycle after the 2021 bubble burst and the problems of the global economy, but in October it showed some stability.
2023
Price at the beginning of October: $27,400
Price at the end of October: $34,000 (approximately)
Performance: October 2023 was a bullish month, driven by speculation of a Bitcoin ETF approval and other positive news in the crypto market.
Summary
Over the past decade, October has been a mixed month, but in several years (2015, 2016, 2020 and 2021), it has shown a bullish pattern, coinciding with the end of bearish cycles or the beginning of significant uptrends.
Bitcoin bull run years are typically marked by market cycles following the halving, which occurs roughly every four years. Over the past 10 years, Bitcoin's major bull runs have been in 2013, 2017, and 2020-2021. Here's how Bitcoin performed in October during those key bull run years.
Now let's see how Bitcoin behaved during the bull run years.
2013 (First big bull run)
Price at the beginning of October: $137
Price at the end of October: $206
Performance: This was Bitcoin's first major rally, taking it from a few dollars to a high near $1,000 in December. October marked the start of a major acceleration. During this month, the price rose sharply, increasing by more than 50%, indicating a growing interest in Bitcoin in the early days of the crypto ecosystem.
2017 (The most famous bull run)
Price at the beginning of October: $4,371
Price at the end of October: $6,468
Performance: In 2017, Bitcoin started October just above $4,000 and ended it near $6,500. This increase was a prelude to its meteoric rise to almost $20,000 in December 2017. Market sentiment was at an all-time high, with institutional and retail investors entering in droves. October saw a significant acceleration in price, with more than a 40% increase.
2020 (Start of the last bull run)
Price at the beginning of October: $10,800
Price at the end of October: $13,800
Performance: October 2020 was the turning point that marked the beginning of the most recent bull run. Bitcoin was already on the verge of a year of recovery after the pandemic-induced crash, and in October it broke the $12,000 barrier for the first time in a long time, ending the month near $14,000. This 28% increase was the prelude to what would be an epic bull run that culminated in all-time highs above $60,000 in 2021.
2021 (Bull run continuo)
Price at the beginning of October: $43,790
Price at the end of October: $61,300
Performance: October 2021 was one of the strongest months of the year, up more than 40%. Bitcoin started the month at $43,790 and closed it at $61,300, approaching its all-time high of over $68,000, which it would reach in November. This move was fueled by the approval of the first Bitcoin futures ETFs in the United States, which attracted renewed institutional interest.
Comparison of bull runs:
1. 2013: The first big rally, with relatively small increases in dollars but huge in percentage terms.
2. 2017: Bitcoin rose from thousands of dollars to approaching $20,000, fueled by the ICO boom and an explosion of retail interest.
3. 2020-2021: A more mature rally, where institutional interest, corporate adoption and macroeconomic events (such as the pandemic and expansionary monetary policy) drove the rally.
These bull runs are some of the most notable moments in Bitcoin history, and the month of October has played a big role in setting the stage for the big spikes in November and December but don’t get caught with your pants down, do your research, make sure you set your stop loss and don’t invest money that will eat you up all month.