Bitcoin Faces Another Red October as Price Drops 4.2%
Photo: Bitcoinist
Bitcoin’s reputation for strong October rallies is facing another test. After five consecutive years of gains during the month, the cryptocurrency is now on track for its second negative October in a row. Data from CryptoQuant shows Bitcoin falling 4.2% between September 30 and October 25, with its price slipping from $83,567 to $80,051. That’s a disappointing result for a month traders often call “Uptober.” But with several days remaining before October closes, the final outcome is not yet settled. What concerns us more is the weakness in buying demand, which could make a sustained recovery difficult as November approaches.
Also reported by Cryptonews.
Source: Bitcoinist
