October or Bust: Bitcoin's Historical Upswing May Not Be Enough

The past three months have been kind to Bitcoin, and crypto analysts believe the bull market has begun. However, this might not be the good news everyone is expecting.

BTC is still in the red on a year-to-date basis, but September closed strongly in the green, with a 6.33% pump. This makes it the third consecutive green month and fifth for the year.

October has been BTC's greenest month since CoinGlass started tracking its performance in 2013, with 10 out of 13 editions showing gains.

Lacie Zhang, Research Analyst at Bitget Wallet, said that 'seasonality alone is not an investment thesis,' but noted that the median October return for Bitcoin has historically been around 11%-14%.