JAKARTA - Starting in October, the price of Bitcoin (BTC) had shot up to over 28,500 US dollars or equivalent to IDR 444.8 million on Monday, October 2, which is the highest level since the last six weeks.
Apart from BTC, at the same time Ethereum (ETH) also strengthened to USD 1.750 (IDR 27.3 million). But unfortunately, the price of Bitcoin and Ethereum compactly weakened on Tuesday, October 3 at WIB.
According to existing data, Bitcoin is perched at a price of 27,410 US dollars (Rp427.8 million), while Ethereum (ETH) is moving in the range of 1,660 US dollars (Rp25.9 million).
"Bitcoin has successfully closed September positively, where this is the first time since 2016. Bitcoin seems to also have the potential to be able to continue its positive October trend," said Crypto's Magical Financial Expert, Panji Yudha in his official statement.
Not without reason, the prediction of a positive trend of Bitcoin in October is based on the Bitcoin average movement in October from 2013 to 2022 which tends to be positive with an average increase of 22.34 percent.
The phenomenon of the overall increase in the Crypto Assets market in October is often called an "Uptober" among the crypto community. It is proven that Bitcoin has recorded a positive increase in the last four years every October," Panji explained.
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In addition, Ethereum also recorded a positive increase in October in the last four years. In particular, the highest increase occurred in October 2021, an increase of 42.92 percent and October 2022 rose by 18.39 percent.
This week, ETF Ethereum Futures is one step closer to launching. ETF is considered to be able to make it easier for conventional investors to participate and can of course also increase crypto market liquidity.
"Nevertheless, investors and traders are certainly expected to remain vigilant against the news and continue to follow market developments even though historically the crypto market tends to be bullish every October," Panji concluded.
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