Bitcoin October Volatility: Is There Hope for Recovery as Year-End Approaches?

October has seen a significant drop in the price of Bitcoin, marking the first negative October in six years. This volatility is primarily driven by political and macroeconomic factors as well as technical price fluctuations. While analysts point to historical trends suggesting strong Q4 performance, this year’s decline has been pronounced, leaving traders uncertain about future direction. Bitcoin’s movements have been erratic, fluctuating between $104,778 and $115,934 in the month. This volatility is attributed to several factors.