Bitcoin fell 7.3% in October, erasing September’s advance after three consecutive months of gains. The decline put “Uptober” in the red for a second year in a row.
Why it matters
The monthly loss broke Bitcoin’s run of gains and reversed the prior month’s advance. October’s performance also ran counter to the market’s “Uptober” label for a second consecutive year.
Market impact
The reported decline was 7.3% for the month. The update provides no further detail on the drivers of the move or its effect on other markets.
Source: [source](https://webappcsdfedsssd.controller.bot/media/files/8336652911/AgACAgIAAxkBAAJZn2rnimZANIpY2a51vHf1NV8EJr4AA3Ebaxu2w0BLYtoESPHn7eUBAAMCAAN5AAM9BA?sig=07sRso-0XPcgE1Tapf1v_jTEx2-j_4mZL4wchUNxkl4)
Frequently asked questions
-
How much did Bitcoin fall in October?
Bitcoin fell 7.3% in October.
-
What happened to Bitcoin’s September advance?
The October decline erased September’s advance.
-
How long had Bitcoin gained before October?
Bitcoin had recorded three consecutive months of gains before falling in October.
-
How many years in a row has October ended red for Bitcoin?
October ended in the red for Bitcoin for a second consecutive year.
-
Does the update identify what drove Bitcoin’s October decline?
No. The update reports the 7.3% monthly decline but does not identify its cause.
Crypto News
Benjamin Cowen
WatcherGuru
Altcoin Daily
WuBlockchain
CryptoSlate
CoinDesk