Economist: Bitcoin Could Rebound Up to 21% in October, Potentially Near $124,000

• Drops >5% in October are rare.

• When such drops occurred, weekly rebounds ranged from 4% to 21%.

• October average return since 2013: ~20.1% (source: CoinGlass).

Meta description: Bitcoin October rebound outlook: drops >5% are rare and often quickly recover—review historical data and short-term scenarios. Read the analysis.

An economist said Bitcoin declining more than 5% in October is “exceedingly rare,” and historically, the asset has usually rebounded within the following week.

Bitcoin’s price may recover up to 21% over the coming seven days if October’s historical trends hold, an economist suggests.

“Drops of more than 5% in October are exceedingly rare. This has happened only 4 times in the past 10 years,” economist Timothy Peterson said in an X post on Friday.

What is Bitcoin’s October rebound outlook?

Bitcoin’s October rebound outlook is bullish based on historical patterns: deep October dips (>-5%) have been followed by swift recoveries in most observed instances, with past week-after rebounds of 16%, 4% and 21%. This suggests a high probability of a short-term bounce if history repeats.

How often has Bitcoin dropped more than 5% in October?

According to the economist’s review, Bitcoin dropped more than 5% in October only four times over the last decade: October 2017, 2018, 2019 and 2021. In three of those instances the asset rebounded within a week by 16% (2017), 4% (2018) and 21% (2019); 2021 saw a further 3% decline.

October has delivered an average return of 20.14% since 2013. Source: CoinGlass

Why does October tend to show strong Bitcoin returns?

October — often called “Uptober” by market participants — has historically produced strong returns. Data from CoinGlass (plain text reference) indicates October averages around a 20.10% return since 2013, making it Bitcoin’s second-best performing month behind November (46.02% on average).

If history repeats, what price could Bitcoin reach soon?

Using the strongest historical rebound (21% in 2019) applied to a hypothetical low of $102,000, Bitcoin could approach roughly $124,000 within a week. At the time of analysis, Bitcoin showed a partial recovery to $112,468 after a Friday low of $102,000, with recent all-time highs near $125,100 (CoinMarketCap, plain text reference).

Bitcoin is trading at $111,700 at the time of publication. Source: CoinMarketCap

How are market participants reacting to the dip?

Bitcoin advocates emphasized that October has many trading days remaining and cited cycle-bottom narratives. Samson Mow noted there were still 21 days left in “Uptober.” MN Trading Capital founder Michael van de Poppe called the drop “the bottom of the current cycle.” Other commentators offered longer-term perspectives and colorful market anecdotes.

What does the short-term historical data suggest?

Short-term historical outcomes after October drops >5%:

• 2017: +16% in the following week
• 2018: +4% in the following week
• 2019: +21% in the following week
• 2021: -3% in the following week

Frequently Asked Questions

How rare are October declines greater than 5% for Bitcoin?

Drops greater than 5% in October are rare — recorded four times in the past decade (2017, 2018, 2019, 2021). Historically, three of those instances were followed by recoveries within a week.

Can historical October performance predict immediate gains?

History is not a guarantee, but past October behavior shows a pattern of quick rebounds after sharp dips; traders use this context to assess short-term risk and reward.

Key Takeaways

• Rarity of deep October drops: Only four >5% October drops in 10 years, per Timothy Peterson.
• High short-term rebound probability: Three of four events saw weekly recoveries, including a 21% surge in 2019.
• Actionable insight: Traders should weigh historical short-term rebound potential against current macro triggers and volatility.

Conclusion

Historical data suggests Bitcoin’s October rebound outlook is favorable: deep October declines have often reversed quickly, sometimes producing double-digit weekly gains. While historical patterns (CoinGlass, CoinMarketCap, plain text references) inform expectations, investors should balance these signals with current macro developments and risk tolerance. For continued coverage and updated price context, follow COINOTAG reporting and data updates.