TL; DR failure:
- Twitter coded October as “Uptober” on the first day after the green market.
- Most bitcoins hope the new month will lead to $ 100,000 bitcoins by December.
October, now known as “Uptober” for Twitter encryption, has been a bullish month for the bitcoin market and cryptocurrencies in general, following green prices on the first day.
On October 1, Bitcoin printed a $ 4,000 candle in just one hour. Since closing at $ 43,650 in September, Bitcoin has risen 10.5 percent to more than $ 48,226, reducing some of its decline over the past month. Other major altcoins, including Atrium and Solana, also rose. Both coins increased by 10 and 16 hours per day, respectively.
Overall, the market value of digital currencies returned to $ 2 trillion on October 1. The whole market movement yesterday created the phrase “Uptober” by Crypto Twitter, which indicates that investors in digital currencies are positive that the market will be bullish this month. It also points to historical data that October is one of the rising months for Bitcoin.
In the last 11 years, Bitcoin has recorded only four negative returns in October. On average, bitcoin rose 31 percent in October. Therefore, investors are hopeful.
Will Uptober guarantee $ 100,000 in Bitcoin by December?
Many people also believe that if the Uptober market trend continues, Bitcoin will reach $ 100,000 by December. This is also in line with the PlanB analyst’s predictions through its flow model.
As Ramzifa previously reported, PlanB predicts that Bitcoin will close at $ 63,000 in October, $ 98,000 in November, and $ 135,000 in December. His predictions for the past two months (August and September) were accurate. As a result, most people rely on his predictions that Bitcoin will cross the $ 100,000 mark by the end of the year.