Guys, on the last day of October, the crypto market crushed the old “Uptober” meme. After looking at my account, I had just one feeling: we waited all month for a green month, but what we got was a red one.
According to today’s figures, Bitcoin fell from around $87,220 to around $77,300 in October, a drop of about 11.37%; the total market cap shrank from around $2.94 trillion to around $2.58 trillion. October has historically averaged a gain of about 12.9%. Last year’s 3.9% decline was unusual, and this is now the second year in a row it’s fallen.
Ethereum fell about 21.71%, and Solana about 25.81%—both dropped even harder.
It’s like expecting a harvest every fall, only for this year’s yield to be more than 10% lower: seasonal patterns aren’t guarantees.
My take is, don’t chalk it all up to bad luck. At the start of the month, Bitcoin was still above $87,000. In the second half, demand weakened, and the Binance security incident dealt another blow. Belief couldn’t withstand people pulling out real money. But there’s evidence on the other side, too: near $77,000, nine new wallets received 1,900 Bitcoin worth about $148 million from Galaxy Digital within four hours. Some people are getting out, but others are buying in.
Did you hold on for an extra month this year because you thought “October always goes up”? In the end, are you glad you didn’t sell, or do you wish you’d acted sooner?
The above is only my personal opinion and does not constitute investment advice.
$BTC #比特币 #Uptober
According to today’s figures, Bitcoin fell from around $87,220 to around $77,300 in October, a drop of about 11.37%; the total market cap shrank from around $2.94 trillion to around $2.58 trillion. October has historically averaged a gain of about 12.9%. Last year’s 3.9% decline was unusual, and this is now the second year in a row it’s fallen.
Ethereum fell about 21.71%, and Solana about 25.81%—both dropped even harder.
It’s like expecting a harvest every fall, only for this year’s yield to be more than 10% lower: seasonal patterns aren’t guarantees.
My take is, don’t chalk it all up to bad luck. At the start of the month, Bitcoin was still above $87,000. In the second half, demand weakened, and the Binance security incident dealt another blow. Belief couldn’t withstand people pulling out real money. But there’s evidence on the other side, too: near $77,000, nine new wallets received 1,900 Bitcoin worth about $148 million from Galaxy Digital within four hours. Some people are getting out, but others are buying in.
Did you hold on for an extra month this year because you thought “October always goes up”? In the end, are you glad you didn’t sell, or do you wish you’d acted sooner?
The above is only my personal opinion and does not constitute investment advice.
$BTC #比特币 #Uptober