Reports show the four October setbacks came in 2017, 2018, 2019, and 2021. In the week after each fall, recoveries ranged from modest to sharp: gains of 16% in 2017, 4% in 2018, and a big 21% in 2019, while 2021 was the lone outlier when prices slipped another 3%.
Drops of more than 5% in October are exceedingly rare. This has happened only 4 times in the past 10 years.
Oct 24 2017 Oct 11 2018 Oct 23 2019 Oct 21 2021
Markets moved fast this week after a tariff shock. United States President Donald Trump’s announcement of steep tariffs on China coincided with a sudden sell-off that briefly pushed Bitcoin down to about $102,000.
Prices then staged a partial recovery to roughly $112,100. Traders noted the pullback came soon after Bitcoin hit fresh highs earlier in the week, above $126,000.
If Bitcoin were to mirror its strongest October rebound — the 21% surge seen in 2019 — a move from the low near $102,000 would place the token just under its recent peak, around $124,000, within days.
That math is straightforward and is being quoted by analysts running many simulations. Some say there’s even a range of odds that the month could finish well above current levels.
Other market voices pushed different views. Proponents argued that the current dip is a reset during an overall uptrend; some called it the bottom of the current cycle.
Any sign the US Federal Reserve will quicken interest rate cuts could also lift risk assets, including crypto. History suggests panic sell-offs often end before a strong recovery begins, but nothing is guaranteed.
Featured image from Unsplash, chart from TradingView
