Bitcoin monthly chart declines, ending seven-year streak of October gains
ChainCatcher reported that bitcoin fell by more than 5% on the monthly chart in October, marking the first such drop since 2018 and ending a seven-year streak of October gains. This upward trend had previously led cryptocurrency traders to view October as a lucky month.
Adam McCarthy, Senior Research Analyst at digital market data provider Kaiko, stated that after entering October, cryptocurrencies followed gold and the stock market to near record highs. However, with what may have been the first bout of uncertainty this year, the rotation in market trends did not fully return to bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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