Bitcoin (BTC) is poised for a bullish October based on one metric, according to InvestAnswers
A widely-regarded crypto strategist is voicing bullish sentiment on Bitcoin (BTC) as the year enters its final quarter.
The anonymous host of InvestAnswers tells its 444,000 YouTube subscribers in a new video that October is historically a bullish month for Bitcoin.
According to the InvestAnswers host, Bitcoin could reach as high as $26,000 in the next four weeks based on the average return for October. Bitcoin last saw a price above $26,000 in June while it last surged above $25,000 in August.
“If bitcoin can hold up and around its level, it will be better than before…
Looking ahead to October, the average return for October is 28.42%, which would take bitcoin price to around $25,000-$26,000. So, we’ll see if it goes there.
Not long ago we were at $25,000 and we could easily get back to that level.”
Source: InvestAnswers/YouTube
Compared to other months, the host of InvestAnswers says October has typically offered the third-highest average monthly returns.
“Let’s see how October compares to other months in Bitcoin’s history…
Here you can see that September is red. August is something like breaking even.
But October is historically the third best month. And that’s why a lot of people call it Uptober.”
Source: InvestAnswers/YouTube
Bitcoin is trading at $19,411 at the time of writing, unchanged on the day.
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