Bitcoin’s ‘Uptober’ Upswing Will Resume Soon: JPMorgan
Posted On October 7, 2024
JPMorgan analysts identified several key catalysts that could shape the cryptocurrency market in the coming months, highlighting a mix of seasonal trends, macroeconomic factors and technological developments.
What Happened: The analysts pointed to the historical “Uptober” trend, noting that over 70% of Octobers yielded positive returns for Bitcoin (CRYPTO: BTC), The Block reported on Monday. They suggested this popularized concept could influence investor behavior, potentially leading to a positive month for Bitcoin in October.
The analysts also noted the market has “yet to see the ‘pop’ in cryptocurrency prices expected from lower rates since the Fed’s Sep. 18 cut.” They suggest the market might be waiting for more sustained stability …
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