Analytic Says Bitcoin Could Jump Up to 21% in a Week
Bitcoin suffered a sharp drop at the start of October, but analysts say it might just be a short-term correction. In the past, similar declines were often followed by strong rebounds — sometimes over 20% in just a week.
The world’s largest cryptocurrency fell to $102,000 after U.S. President Donald Trump announced 100% tariffs on Chinese goods. Just days earlier, Bitcoin had reached a new all-time high of $125,100.
Economist Timothy Peterson noted on X (formerly Twitter) that an October decline of more than 5% is “extremely rare.” It’s happened only four times in the past decade — in 2017, 2018, 2019 and 2021 — and in three of those cases, Bitcoin quickly rebounded, gaining 16%, 4% and 21%.
If 2025 follows the same pattern as 2019, bitcoin’s price could climb back to $124,000 within a week — just below this year’s record.
Why october is special for Bitcoin
Among crypto fans, October is known as “Uptober” — a play on the words “up” and “October.” Data from CoinGlass shows that October is the second-best month of the year for Bitcoin, with an average gain of 20.1% since 2013.
Jan3 founder Samson Mow wrote on X: “There are still 21 days left in Uptober.” Trader Michael van de Poppe even called Friday’s sell-off the “cycle bottom,” suggesting a new uptrend is starting.
Volatility is rising, and investors should be ready
Some analysts warn that such swings will become more frequent. The commentator known as The Bitcoin Libertarian said: “In a few years, we’ll see Bitcoin drop from $1 million to $800,000 in hours — and everyone will talk about a new record in liquidations.” His takeaway: “Let history repeat itself.”
Sources:
https://x.com/nsquaredvalue/status/1976759938639933884
https://www.coinglass.com/today
https://cointelegraph.com/news/trump100-tariffs-china-bitcoin-plummets-110k
https://x.com/Excellion/status/1976808746992255099