Timothy Peterson, a specialist in cryptocurrency analysis, has offered an intriguing evaluation of Bitcoin’s activity during October. He observed that the initial eight days of this month are generally the least favorable for Bitcoin.
Nonetheless, he highlighted that months beginning with vigor often conclude on a weaker note.
Peterson pointed out that certain days in October have historically been significant due to investor optimism, dubbing it “Uptober.” On specific dates like October 9th, 20th, and 28th, Bitcoin experienced a surge of 71%, with this figure climbing to as much as 78% by October 29th.
The analyst’s AI-driven model suggests that approximately half of Bitcoin’s gains for October might already be achieved. Furthermore, Peterson mentioned there’s a probability of about 50% for Bitcoin to end the month above $140,000 and a likelihood of around 43% for it to close below $136,000.
Currently, BTC is valued at approximately $121,000.
*This information should not be considered financial advice.