October was expected by many crypto observers. The least we can say is that October is not disappointing at the moment! Indeed, the month started off on an excellent basis with a bullish crypto market and Bitcoin at + 9%.
September was not a good month on the cryptocurrency front. Many were then impatiently awaiting the month of October. What is it? The month of October starts off with a bang with a bullish crypto market and a Bitcoin which increases by more than 9%!
Bitcoin crosses the € 40,000 mark and continues its momentum
For several days, the price of Bitcoin has been stuck between $ 40k and $ 44. To start a bullish movement, Bitcoin had to get out of this zone. It’s done on October 1st!
At the time of writing this article, the price of Bitcoin is $ 47,660 or nearly € 41,000. The BTC price is in increase of almost 10% over the last 24 hours and 13% over the last 7 days.
Some analysts are forecasting a cannonball end to the year for Bitcoin. Some projections give a BTC price around 100,000 or even 200,000 $ before the end of the year 2021 ! But for this, everyone agreed that no more time should be wasted and therefore relied heavily on the month of October. The first day of the month starts off on an excellent basis!
A bullish crypto market in October!
On this first day of October, the cryptos show, for the most part, prices in the green! Among the top 20 global cryptos, the best performers are as follows (at the time of writing):
- Ethereum: + 7%
- Binance Coin: + 9%
- Solana: + 9.5%
- Polkadot: + 9%
- Terra: + 9%
- Algorand: + 8%
September has been a bit tricky for cryptos. In the main corners, only the Solana, Avalanche, Algorand and Cosmos have been able to do well in a good way. Historically, Bitcoin has often struggled in September. That is why all hopes were focused on the month of October.
On this first day of October, the sentiment in the crypto market is bullish. So much so that some do not hesitate to reclassify the month of October as ” Uptober “! Last year, October was the starting point for a 6 month bull run! What if it was still the case this year?