Bitcoin suddenly has record high back in sight as crypto ‘Uptober’ starts with a bang
Bitcoin (BTC-USD) jumped above $122,000 per token on Friday as investors flocked to crypto amid US government shutdown uncertainty, with seasonal tailwinds fueling risk-on momentum.
The rally throughout the week — its best since April — has left the world’s largest cryptocurrency trading just a stone’s throw away from its August all-time high, which was just north of $124,000.
October has historically been bitcoin’s strongest month, as the token has risen in 10 of the past 12 years, according to Compass Point Research, leading many in crypto markets to refer to the month as “Uptober.”
Seasonality also favors the fourth quarter, with the token gaining in four of the past five Q4 periods.
That performance often follows…
