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>>An economist predicts Bitcoin might increase by 21% this week, citing historical trends suggesting October is a favorable month for recovery.

An economist predicts Bitcoin might increase by 21% this week, citing historical trends suggesting October is a favorable month for recovery.

crypthub

3 days ago

Potential Bitcoin Rebound

Economist Timothy Peterson predicts Bitcoin could rebound up to 21% this week, based on historical October trends. October has consistently been a strong month for Bitcoin, averaging 20.1% gains since 2013, second only to November. This forecast follows a recent market correction triggered by tariff announcements, briefly pushing Bitcoin below $102,000.

October's Historical Performance

Large drops in Bitcoin's value during October have been infrequent over the last decade. Historically, Bitcoin has rallied after these drops, with gains ranging from 4% to 21% within a week. This “Uptober” phenomenon suggests a potential for continued price increases.

Future Outlook and Cycles

Several analysts remain bullish on Bitcoin, suggesting this recent dip represents a bottom and pointing to potential for parabolic rallies. Longer cycles and increased volatility, even at prices near $1 million, are expected as part of Bitcoin's evolving nature. A critical 100-day window will determine if a sustained rally or a cycle's end occurs.