“Uptober” in Bitcoin: why the crypto could jump 20% and break a new record in October

Yes ok Bitcoin October started downwards, since it is located at the level of US$62,000 -received the blow suffered by risk assets due to the escalation of the conflict in the Middle Eastthat would not overshadow the good signs that the market has for cryptoactives during this month. It should be noted that BTC has just finished a good performance in September like the main altcoins.

Mauricio Novellico-founder of NW Profesional Traders and current American champion of the World Cup Trading Championship, recalled that this month is known as “uptober”which is a play on words in English, because basically October is usually very positive for everything in the financial and crypto markets, and even one of the most profitable.

“Now it is above US$60,000, which is a very important support for the price and reflects that Bitcoin continues to consolidate, and It is expected that during October it can challenge and set new historical highs“he told Scope. It should be noted that, since 2013, Bitcoin closed 9 Octobers with positive returns and only 2 slightly negative Octobers.

Regarding this, Iñaki ApezteguiaChief Research Officer of Crossing Capital, in dialogue with this medium, agreed with this premise by maintaining that “October is expected to be a bullish month, as it has been historically”, he also predicted that the statistic maintains that, on average, up 20%so it could reach a new record. “Although it started with a minimal correction, Bitcoin still has a quite encouraging outlook for October”he added.

In this regard he mentioned the positive impact of the interest rate cut both in the United States by the Federal Reserve (FED) and in Europe, with the Bank of England. From Asia, he highlighted what happened with China with its new stimulus policy. “All this means that there is money available for risk investments, stocks and crypto”Apezteguia expanded.

Along these lines, it will be important to pay attention to the result of the electoral dispute by the presidency of the United Statesbetween Kamala Harristhe Democratic candidate and donald trumpthe Republican candidate. “Donald Trump has his own crypto project and has been talking more and more forcefully about the issue while Kamala Harris began to take the issue into consideration. Possibly during October we will see the reflection about which candidate has the best chances,” he added..

Effects of the post-halving: what projections are there for 2025

“The effects of the post-halving have not yet been seen, which is the 4-year pattern that Bitcoin performs, where a few months later the price increases a lot. Many long-term traders expect the price to reach $90,000.“he told this medium Santiago Amaraccountant, professor and youtuber, who asserted that He sees it as very possible by the end of this year or the beginning of next year.

The Bitcoin halving occurs when the issuance of cryptocurrencies is reduced by half. Bitcoin already had 4 halvings. The last of them took place on April 19, 2024 and the next one is expected to occur in April 2028. With a planned generation of 21 million BTC, the halving ensures that The issuance of new coins decreases over time, increasing the scarcity and potentially the value of Bitcoin.

Bitcoin and other altcoins: how they fared in September

Bitcoin comes from closing September with an advance of 7.7% to $63,470.94 while Ethereum rose 3.6% to US$2,601.82, which means it was a good month for cryptocurrencies within the framework of the reduction in interest rates by the FED. There were some cryptocurrencies, however, that advanced up to 28.5% as was the case with Shiba Inuamong the most operated and recognized. It also rose strongly Avalanche (+23.3%), Doge Coin (+16.1%), and Solarium (+16.6%).