Bitcoin's "Uptober" period: Is the bullish period beginning?

The leading cryptocurrency Bitcoin ($BTC ) has entered October, when significant increases were seen and altcoins gained momentum.

Crypto investors are closely following the Bitcoin monthly performance chart, one of the important metrics. Historical data shows that the BTC price made a significant increase in October. According to the data, the leading cryptocurrency ended the last five October months positively. Whether this cycle will repeat itself has become a matter of curiosity.

BTC's predominantly bullish performance in October is defined by the sector as "Uptober". It is predicted that the BTC price may reach its all-time high (ATH) in October, which is known as the month of increases.

QCP analysts claimed in the investor note they published on Telegram that the bullish period has begun. The note said;

"We have finally come to the 'Uptober' month. Historically, October is a bullish month, and BTC has increased by an average of 22.9 percent in 8 of the last 9 October months. A similar increase could take us above the 78,000 level.”

When looking at Bitcoin’s monthly performance chart, it is seen that the price has ended the last five Octobers positively. The leading crypto has closed only two Octobers negatively since 2013. BTC’s best October performance occurred in 2017. Bitcoin increased by 47.81 percent on that date.

BTC ended the previous October with a 28.52 percent increase. Crypto analysts emphasized the “Uptober” bull in light of historical data. QCP Capital’s $78,000 price target drew attention.

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