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Bitcoin closes October with gains and increased volatility

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Key facts:
  • Bitcoin closes October up after two months of declines: August (-13.88 percent) and September (-3.12 percent).

  • The price of bitcoin rose 5.56% in October.

As predicted by some analysts, bitcoin (BTC) closed the month of October up. During this period, the price increased by 5.56 percent and closed at $20,500. This is the level at which it moved the most in the last seven days of the month, after experiencing a surge in volatility.

Thus, bitcoin recovered some of what it had lost during the fall of the previous two months. The decline was 13.88 percent in August and 3.12 percent in September, according to Coinglass Explorer data.

October has historically been a month of price increases, both for the cryptocurrency as with stock market shares. Therefore, several analysts According to CryptoNews, bitcoin is expected to rebound this month despite the macro headwinds that continue to plague the markets.

chart of bitcoin's monthly percentage performance from 2013 to 2022.
The price of bitcoin rose 5.56 percent in October. Source: Coinglass.

This outlook comes as the cryptocurrency experienced a drop in volatility (price variability) this month from 3.33 percent to 1.64 percent, according to Coinglass. In doing so, it continued the reduction in volatility that has been ongoing since mid-September. However, at the end of October it experienced a slight change with its appreciation.

In the last week of October, with its upward movement. at 21,000, bitcoin volatility increase slightly after touching lows 1.37 percent. Moreover, during this period, its implied volatility in the futures markets pink as well. According to data from the analytics firm, the percentage rose from a low of 47 percent to a high of 59 percent. Kaiko.

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