Uptober is a well-known term among bitcoin (BTC) and crypto fanatics. In the entire history of bitcoin, it managed to close the month of October red only three times. This happened in 2011, 2014 and 2018. Because of this, many investors are biased that October is going to be a green month for BTC and with it the entire crypto market. Also, the month of september is often a worse month for the digital gold and the entire crypto market. Bitcoin managed to close the month of september in the red A total of eight out of 12 times.

Last year, it turned out that the nickname is not for nothing. It rose from $40,000 to over $60,000 in just a few weeks. A nice fact is that Satoshi Nakamoto, the anonymous founder of bitcoin, first published the white paper in October 2008. Perhaps this is an additional reason why many investors are looking positively at the month of October.

Despite the fact that bitcoin managed to close the month of October green almost every year, it is a completely different story in a bear market. Crypto analyst Ali Martinez published a table showing the monthly performance of BTC since 2010. In this table, it can be seen that in the previous bear markets, the cryptocurrency performed poorly in the month of October. In 2011, it fell by as much as 36.77%, in 2014 it fell by a total of 12.96%, and in 2018, the king of cryptocurrencies lost 4.06% in value.

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