Bitcoin Eyes Strong Weekly Recovery
Bitcoin may be preparing for a significant comeback after last week’s steep correction. Economist Timothy Peterson believes the leading cryptocurrency could rebound by as much as twenty-one percent within the week if historical October trends repeat.
His analysis points to Bitcoin’s long-standing pattern of strong monthly performance during this period, where declines of over five percent have been rare. With prices stabilising after dipping near $102,000, market optimism is returning across trading desks.
Historical Data Shows October Strength
Since 2013, October has been Bitcoin’s second-best performing month, averaging twenty-point-one percent gains, second only to November. Peterson noted that similar October drops occurred in 2017, 2018, 2019, and 2021, with rebounds of sixteen, four, and twenty-one percent following three of those years. The pattern reinforces the popular “Uptober” narrative among traders, suggesting seasonal behaviour often drives renewed accumulation and reduced selling pressure.
Market Recovers After Trump Tariff Shock
The latest market correction followed U.S. President Donald Trump’s announcement of a one-hundred-percent tariff on Chinese imports, which briefly sent Bitcoin tumbling below $102,000.
The market has since regained stability, with prices hovering near $111,700 after recovering from Monday’s peak of $125,100. Analysts suggest that such political shocks often trigger temporary volatility rather than long-term trend reversals, allowing disciplined traders to re-enter during price consolidations.
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Analysts Maintain Bullish Outlook
Despite turbulence, several prominent analysts remain confident in Bitcoin’s bullish outlook. Samson Mow, CEO of Jan3, reminded traders that “there are still twenty-one days left in Uptober,” hinting that more upside potential remains. Similarly, Michael van de Poppe of MN Trading Capital declared the recent dip “the bottom of the current cycle.” Both analysts believe the correction has reset overextended momentum, setting the stage for a renewed rally toward previous highs.
Volatility Seen as Part of Bitcoin’s Maturity
The Bitcoin Libertarian, a well-known commentator, argued that extreme volatility is part of the asset’s long-term maturation. He emphasised that even when Bitcoin approaches million-dollar valuations, substantial price swings will remain inherent to its decentralised structure.
According to him, liquidation waves and sudden pullbacks reflect natural rebalancing phases, not structural weaknesses. Such perspectives reinforce Bitcoin’s resilience through repeated cycles of expansion and contraction.
Technical Indicators Signal Turning Point
Trader Tony “The Bull” Severino believes Bitcoin is entering a crucial one-hundred-day window that could define the next phase of its bull market. His analysis of the Bollinger Bands indicator shows record compression levels on the weekly chart, often preceding sharp directional moves. He cautioned, however, that “head fakes” or false breakouts could occur before a definitive trend emerges. Failure to sustain momentum above $126,000 has created short-term uncertainty, yet long-term charts still suggest upside potential.
Outlook: Uptober Momentum Could Push Bitcoin Higher
As volatility continues to tighten, traders anticipate that a decisive breakout could occur within weeks. Should Bitcoin mirror its historic twenty-one percent rebound from 2019, prices could revisit $124,000, near recent highs. With strong seasonal performance, bullish sentiment, and institutional inflows steadying, October once again looks set to justify its “Uptober” nickname. Economists agree that while volatility will persist, Bitcoin’s structural growth trajectory remains intact heading into the year’s final quarter.
