US President Donald Trump's announcement of 100% tariffs on China severely shook the cryptocurrency market, along with global markets. Bitcoin's price quickly plummeted to $102,000, leaving investors confused by the perception that October is typically a bullish month. Cryptocurrency analyst Timothy Peterson shared a striking analysis, noting that this decline is historically rare. According to Peterson, drops of more than 5% in October have only occurred four times in the last 10 years: October 24, 2017 October 11, 2018 October 23, 2019 October 21, 2021 Related News: Bitcoin Partially Recovers After Major Drop, But Liquidations Are Severe! Here Are the Latest Data Peterson also shared how the Bitcoin price trended 7 days after these dates: 2017: 16% increase 2018: 4% increase 2019: 21% increase 2021: 3% decline This data suggests that historically, sharp declines in October are often followed by short-term recoveries. However, analysts warn that the impact of Trump's trade policies on the market this time around could be different than in previous years. *This is not investment advice. Continue Reading: HOT MOMENTS: Expert Analyst Reveals What Happened to Bitcoin After Historical Declines in the Previous Octobers
Here’s Why XRP Price Dumped Today
