Is October bullish or bearish?
October is usually a bullish month for the cryptocurrency market, especially Bitcoin, and this trend is called "Uptober".
According to historical data, Bitcoin has shown positive returns in more than 70% of Octobers. Analysts believe that this trend may stem from the seasonal behavior pattern of the market. Although past performance does not guarantee future returns, the existence of this convention may affect investors' psychology and may prompt Bitcoin to perform better in October.
Of course, we cannot rely too much on historical data. Changes in market sentiment and external factors may make this October different from previous ones. Because the price trend of crypto assets such as Bitcoin is affected by many factors such as the global economy, geopolitics, and regulatory changes.
