The digital coin market displayed solid recoveries within the previous month as cryptos cemented the ‘Uptober’ narrative. Metacade (MCADE) joined the upside party, surging more than 15% over the last 30 days. It traded at $0.006716 at press time.
Meanwhile, the altcoin mirrored the broad market performance. Bitcoin has shown resilience since its recovery from levels below $30K. The bellwether crypto traded at $34,769 at press time, up around 29% within the previous month.
October and crypto uptrends
Historical data shows digital coins outperform in October. CoinGecko’s latest study cements the Uptober narrative, as the market capitalization of all digital tokens increased by 18.1% in October 2023.
The cryptocurrency market has rallied during October over the past ten years, except in 2014 and 2018, when it plunged by 12.7% and more than 8%, respectively.
Meanwhile, MCADE’s performance over the past month indicates its correlation with the overall cryptocurrency spectrum. While Metacade continues to make bullish moves, enthusiasts should follow Bitcoin and the broad market actions to determine its upcoming direction.
Meanwhile, analysts remain confident about the future of the crypto market, predicting significant rallies on the horizon. Such a development will see MCADE price skyrocketing to record levels.
Uptober isn’t up only
Meanwhile, Uptober doesn’t mean smooth surges for the cryptocurrency market. Despite closing with returns, most Octobers witnessed losses of around 0.1% – 4.1% month-to-date.
For instance, cryptocurrencies saw a downside for 21 days in October 2022 before rebounding during the final week to end the month with gains.
Also, the digital assets sector recorded slight plunges between 10 October and 16 2023 before bulls dominated the industry.
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