Bitcoin charges into Uptober with five BTC price triggers lining up for the coming week.
BTC price starts the celebrated month of “Uptober” with a trip past $28,000, but the question on everyone’s lips is whether Bitcoin can hold its ground.The largest cryptocurrency greets “Uptober” in style with its best weekly close since mid-August — what lies in store next?
Macro triggers may not hold the answer immediately, as October begins with a quiet phase for United States macro data, with the government averting a shutdown at the last minute. That all changed as the week ended, with a sudden growth spurt taking BTC price action to just shy of $28,000. In the hours that followed, new local highs of $28,451 appeared on Bitstamp.
Popular trader Skew likewise flagged the potential for a comedown, using exchange order book trends as proof. This time — so far — thus feels different, and more like the classic “Uptober” in years gone by. According to data from monitoring resourceDebating the topic, popular market commentators were happy to channel the spirit of 2021 — the year in which Q4 saw not a multi-year low, but a new all-time high for Bitcoin.in part of his own analysis on Oct. 1, noting that on average, returns during that time had averaged 22%.
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