Bitcoin ended October at US$61,300, up 41% on September’s close and at a new month-end record.
Only once had the digital asset posted a better monthly performance - in December 2020 it rose 60%.
The sharp ‘Uptober’ upswing was all the more impressive given that the cut-off fell on a Sunday, traditionally a weak day for crypto trading.
Looking ahead, popular trader and analyst TechDev said: “BTC daily says get ready for November.”
Plan B, the pseudo-anonymous cryptanalyst, and father of the stock-to-flow (S2F) pricing model, correctly predicted US$47,000 and US$43,000 finales for August and September, respectively. However, Bitcoin’s end-price for October fell just short of his guess of US$63,000.
Now, the closely monitored forecaster is sticking with his punchy US$135,000 year-end prediction.
The hash rate (the measure of processing power dedicated to crypto-mining) is still nearing all-time highs of 180 exahashes per second (EH/s) at 160 EH/s on 31 October.
A high hash rate is generally considered positive for crypto prices.