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Bitcoin Ends October with a 40% Gain as It Turns 13 Years Old

Bitcoin Ends October with a 40% Gain as It Turns 13 Years Old

Created by TradeOr

3rd Party Analysis 01 Nov 2021

Key Takeaways:

  • Bitcoin is up 40% in October and crypto traders expect the rally to continue in November
  • On its 13th birthday, the flagship token closed its first month above $60,000

What’s Today’s News in Crypto?

As November trading kicks off and traders look for fresh deals, bitcoin’s price sealed another month in the green. The month of October, also called “Uptober”, resulted in a gain of over 40% for the original cryptocurrency.

That said, bitcoin started October with a price near $43,000 per coin. As the market progressed and adoption grew, bitcoin climbed to a record high of $67,000 on Oct. 20.

Later, after a mild drop, the orange token finished its first month with a price above $60,000. More precisely, bitcoin ended October with a price of $60,900 per token.

It’s also worth noting that bitcoin celebrated its 13th birthday yesterday. On October 31, 2008, Satoshi Nakamoto released a white paper that would change the world. The idea of a digital currency was born. Even though few people knew it back then, Bitcoin would turn into one of the biggest assets in the world.

What’s the Price of Bitcoin?

Presently, with a market capitalization of about $1.2 trillion, bitcoin gravitates toward $61,000 per token. Early Monday, as traders warm up for the first November deals, most major tokens remain near their recent highs.

Ether, the second-largest cryptocurrency, floats near $4,250 per coin. On Friday, however, the Ethereum token jumped to an all-time high of $4,400, surpassing a record of $4,380 set in May.

In addition, the price of Dogecoin tried to shift gears after Elon Musk tweeted about it. In more detail, he took to Twitter and said he wanted to start a university in Texas. Tuition, meanwhile, would be “in Dogecoin & u get a discount if u have a dog,” Mr. Musk said.

The tweet, however, had a limited effect on Dogecoin’s price, which hovers near unchanged levels for the day, around $0.27.

How to Buy Bitcoin?

Buying bitcoin today has become as easy as a few clicks. First, make sure to go through our comprehensive guide on purchasing bitcoin. There you will find all you need to know before jumping into the crypto revolution.