Bitcoin (BTC) is on course to realize the ‘Uptober’ phenomenon, with the maiden cryptocurrency set to achieve a monthly close on record.
Indeed, this momentum emerged after Bitcoin began the month by posting a lackluster performance as bulls battled to breach $70,000.
At press time, the asset was trading at $71,152, reflecting a monthly gain of about 14%, marking the best monthly close ever.
However, not everything has been rosy for the leading cryptocurrency, which faced the threat of plunging further after dropping below the $60,000 support zone.
Bitcoin seven-day price chart. Source: Finbold
With the end of October coinciding with Halloween celebrations, if the asset closes on another high, it will align with a historical pattern related to this period.
Except for 2018 and 2022, Bitcoin has traded higher on each Halloween day than the year before. For Halloween 2023, Bitcoin rallied almost 110% compared to current valuations.
To put Bitcoin’s October gains
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