Bitcoin (BTC), which showed a “timid” or doubtful behavior in its price during the first days of the month, started this Monday, October 14, forming what until now is a large green candle.
At the time of this writing, The digital currency is trading above $64,600 on the major exchanges, as can be seen in the following chart provided by TradingView:
If bitcoin continues with this movement in the remainder of the month, the statistical “rule” that shows that October is a mostly bullish month.
Since 2013, bitcoin has had 8 green Octobers and only 2 red Octobers.
It is for this reason that many refer to October as “uptober» (play on words in English that can be translated as “October on the rise”).
Bitcoin’s rise is dragging down many altcoins (cryptocurrencies that are not bitcoin).
In weekly terms, several memecoins stand out: First Nero on Ethereum (NERO) occupies first place in the ranking with more than 37% increase in the last 7 days. Second place is held by Ethena (ENA) with a 32% increase. And the number 3 spot belongs to another memecoin, Brett (BRETT) whose price has risen more than 30% over the last week.
Among the 10 cryptocurrencies and tokens with the highest weekly rise there is another memecoin, which is Mog Coin (MOG). Also “serious” cryptocurrencies (not inspired by memes) had a great rebound in their prices. They are active there such as Chiliz (CHZ), Sui (SUI), Worldcoin (WLD) and Aptos (APT).
As CriptoNoticias has reported, macroeconomic and political issues (especially related to the presidential elections in the United States) will impact the price of bitcoin in the coming days and will define its course.
