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BTC Gains 28% in October, Best Monthly Performance Since January

7 posts • GPT (3)

Published Nov 2, 2023, 09:07 PM

Bitcoin (BTC) had a strong performance in October, gaining 28%, marking its best monthly performance since January. The gains were accompanied by a decrease in crypto losses, which amounted to $51.6 million, an 85% decrease compared to September. A golden cross has formed on the daily chart for BTC, following its second-best monthly gain this year. The price of BTC increased from $27,300 on October 1st to $34,200 on October 31st, representing a 25% gain. This performance underscores the diversification benefits of crypto, as equity and bond markets experienced losses for the third consecutive month.

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CoinDesk

@CoinDesk

$BTC gained roughly 28% in October — its strongest showing since January. Watch CoinDesk Indices Head of Research @Tgroth8 break down the performance of major cryptocurrencies last month, along with highlights from the broader macro environment 👇 https://t.co/QjNGROR6At

Grayscale

@Grayscale

October marked the third consecutive month of losses for both equity and bond markets, while $BTC gained 29%, underscoring crypto’s diversification benefits. Read more in our monthly update: https://t.co/Zc7PWQwA4C https://t.co/4ms5bZyr09

CoinDesk

@CoinDesk

It was an "Uptober" for $BTC, as it gained roughly 28% last month. "Generally bitcoin leads other tokens upwards through a cycle," CoinDesk Indices head of research @Tgroth8 says. Watch more: https://t.co/lOZtwJYzlY https://t.co/WWk6PMEp4u

BTC Gains 28% in October, Best Monthly Performance Since January

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