Bitcoin is just over a week away from ending but the Bitcoin (BTC) investors are still waiting for the asset’s traditional jump to take place.

As the month of October is coming to an end, the BTC investors are growing impatient as they eagerly wait for the ‘Uptober’ factor to take place.

Bitcoin Expects a Boost Every October

For Bitcoin, September proved to be a highly dreadful month. After the devastating performance of Bitcoin in September, investors are eager to know if the largest crypto would rebound.

As per many market analysts, Bitcoin has managed to showcase a significant market reversal by moving to the bullish side of most of the Octobers in the past 13 years.

In most cases, October has proven to be very promising for Bitcoin investors with bullish sentiments. The digital asset tends to experience a great rally in a particular month, causing its price to surge significantly.

Investors Expect Similar Outcome

Even in the current month of October, investors expect that the trading price of Bitcoin would experience a great boost. This would eventually help Bitcoin gain a significant surge in valuation.

For several months, Bitcoin has remained less volatile and range bound. Many expect that the month of October may finally push Bitcoin out of the particular loop that has been around for a while.

Speculations from the Bollinger Bands

The Bollinger Bands, one of the major technical indicators are currently demonstrating a very tight formation.

The analysts familiar with the indicator have stated that the tight formation either points to an upward or downward movement of the asset. In this case, it would be Bitcoin that may either move higher or lower.

The particular indicator is known for either pointing out a buying or a selling spree. The movement tends to bring major changes to the value and capitalization of a particular asset.

Many expect that there is hope for the traditional positive factor to kick in even in the last few days of October. The investors have high hopes for the Uptober factor to kick in so BTC’s price rises.

The data shows that out of the total 13 Octobers Bitcoin has seen, 10 Octobers have proven to be quite well for Bitcoin. From the year 2009, Bitcoin has witnessed price gains apart from the years 2018, 2012, and 2011.

Bitcoin’s Price Expectations in October

It was in 2009 when Bitcoin went live for the cryptocurrency community. Then it was in October of 2010 when Bitcoin experienced a significant rise in demand and price.

From that time until now, only three years have witnessed a bearish trend for Bitcoin but the rest have moved into the positive zone.

So far, the value of Bitcoin in the running month has surged by 3%. However, analysts expect that Bitcoin’s price may move even higher as the month comes to a close.