As Halloween approaches, there appears to be a belief among cryptocurrency traders that Bitcoin prices rise during this period. Machine learning algorithms and graphical models support the accuracy of this belief. Bitcoin prices have increased year-on-year every Halloween except 2018 and 2022. The same situation is expected to happen this year too.
Cryptocurrency market tracking platform CoinCodex’s machine algorithm predicted that Bitcoin’s price will rise 9.56% by Halloween and will trade at $28,703 on October 31, 2023. A phenomenon known as ‘Uptober’ in the cryptocurrency industry is among the factors affecting price increases during this period.
Bitcoin was traded at $61,300 on October 31, 2021, an increase of 344.39% from the Halloween 2020 price of $13,794. 28,488 participants from the CoinMarketCap community set the BTC price prediction for Halloween 2022 at $ 21,248.