Bitcoin Traders Patiently Waiting for “Uptober” – Historical Prices Show BTC Gained 10 of 13 October – Markets and Prices Bitcoin News

As of late, Bitcoin’s volatility has been at its lowest since 2020, and after last month’s market downturn, crypto enthusiasts were expecting a reversal in October. In fact, over the past 13 years, Bitcoin has gained 10 times in October, prompting crypto enthusiasts to dub the month “Uptober.” While bitcoin is up almost 3% against the US dollar since the beginning of the month and with just over two weeks until the end of October, bitcoin supporters are excited to see how this month will end.

Bitcoin has two weeks until the end of “Uptober” – the leading cryptocurrency is up 3% since Oct. 1

Bitcoin’s dreadful September is over and traders are wondering if October will show a market reversal for the leading crypto asset by market cap. Bitcoin has been rangebound and less volatile, and currently the technical indicator called Bollinger Bands is extremely tight, suggesting that a move lower or higher is imminent. Typically, October is a good month in terms of BTC gains as the leading crypto asset has seen 10 surges over the past 13 years. BTC saw percentage losses in October 2011, 2012 and 2018, and Bitcoin (BTC) saw decent gains in the rest of October except 2009.

We were all hoping for Uptober for #crypto, instead we seem to be getting CRABTOBER!!!

I still have two weeks…

— Lark Davis (@TheCryptoLark) October 16, 2022

In 2009, BTC was considered nearly worthless, and it wasn’t until the following year that the leading crypto asset saw real value and steep gains. For example, on October 1, 2010, a single bitcoin was trading for $0.06 per unit and on October 31, BTC was exchanging hands for $0.20 per unit. During the month of October 2010, the value of BTC increased by more than 221%. Over the next two years, BTC’s performance in October was lackluster compared to 2010. On October 1, 2011, BTC was trading at $5.14 per unit, ending the month down 36.4% at $3.27.

Uptober please.

— Alt Crypto Gems (@AltCryptoGems) October 13, 2022

2011 was the first October in Bitcoin’s life in which there were percentage losses. As October 2012 began, BTC was trading at $12.40 per coin and by the end of the month had fallen to $10.89 per unit, or 12.2% for the month. After 2012, BTC would not see any percentage losses in the month of October through 2018. In October 2013, BTC surged 52.27% from $129 per coin to $196.44 over the month. The following year, in October 2014, BTC started the month at $320.51 and ended the month up 10.66% at $354.70.

October is halfway through.

When does Uptober start? 📈

— The Moon | Carl (@TheMoonCarl) October 16, 2022

Even during the 2015 bear market, BTC posted gains in October as it started the month at $238.26 and ended October at $283.68 for a 19.06% gain against the US dollar. In October 2016, Bitcoin gained 14.89% when it went from $610.89 per unit on October 2 to $701.86 per coin on October 30, 2016. During the 2017 bull run, October was a good month for Bitcoin as it surged 39.74% from $4,403.74 to $6,153.85 per unit by the end of the month. The following year was BTC’s first October downturn since 2012, when the price fell 1.76% from $6,602.95 per unit to $6,486.39 per BTC.

I was promised an Uptober. Where is it?

— CoinMamba (@coinmamba) October 11, 2022

In 2019, BTC’s October was better as the crypto-asset managed to surge 19.57% higher against the US Dollar. This year, BTC surged from $7,988.16 to $9,551.71 per unit. In October 2020, after hitting $10,669.58 in the first week, Bitcoin’s value surged to $13,031.17 by October 31, a gain of 22.13%. The following year, 2021, BTC gained 27.21% against the USD, going from $48,199.95 to $61,318.96 per BTC in October. So far in 2022, half the month has passed and there are only 16 days left until Uptober ends.

At the time of writing, with more than two weeks left in October, BTC is up almost 3% since the beginning of the month when it was trading at $19,044.11 per unit. The current exchange rate as of October 18, 2022 at 9:00 a.m. ET shows that BTC is up 2.90% month-to-date. Essentially, BTC has made small percentage gains on Uptober, at least compared to September, but the month is far from over.

With 16 days left, October 2022 could join the rest of the “Uptober” years and see the leading crypto asset post double-digit gains by the end of the month. Or as the Bollinger Bands suggest the cryptocurrency has only two options left and it could move down from here and October 2022 could very well join those of 2011, 2012 and 2018.

tags in this story

10 years 2 weeks, 2011, 2012, 2018, 3 years, Bear Run, Bitcoin, Bitcoin (BTC), Bitcoin Spot Price, Bollinger Bands, BTC Market Value, BTC Markets, BTC Prices, Bull Run, Cryptocurrency, Historical Prices, Markets, October 2022, October Downturn, October History, October Price Patterns, October Prices, Prices, Range Limited, Tight, Up or Down, Uptober Markets, Uptober Trend

What are your thoughts on Bitcoin’s market performance so far in October? Do you think bitcoin will go up or down from here in relation to USD value? Do let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

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