October was awaited with great excitement in the crypto industry. Because investors gave it the name Uptober years ago. Although cryptocurrency investors expected a signal to be fired in October before the 2025 Bull Run, this has not happened for now. With the markets rising in September in anticipation of Uptober, investors were even more hopeful for October. But in the last three days the market has fallen instead of rising, and it’s depressing. Bitcoin 
$60,521 Its price has fallen to 60 thousand dollars and similar declines are experienced in altcoins. As a result, the entire market was covered in red, heralding huge losses.
Why Are Cryptocurrencies Falling?
We saw that the selling pressure began to increase across cryptocurrencies as the increase in activities in the Middle East, especially the conflict between Israel and Iran, reduced the price of Bitcoin. While Iran’s attack on Israel on October 1 increased tension between countries, these political events seriously affected the financial sector and caused a decline in the crypto market.
Following the incident, Bitcoin experienced a significant decline and the rest of the market was also affected. Before the missiles were fired, we wrote that the BTC price could be greatly affected by such an attack within the week. Ethereum 
$2,336 It dropped to $2,361 and Solana dropped to $137. At the time the article was being prepared, cryptocurrencies had fallen by an average of 5 percent. The total market value of cryptocurrencies decreased to 2.09 trillion dollars. Additionally, the Fear and Greed index dropped again from neutral to fearful.
Is the Uptober Story Over?
The current challenging crypto market news is worrying for investors. Because the market is in a downward trend instead of the expected upward trend. This has raised doubts about whether Uptober is just a crypto saga/story.
The structure is in a downward trend in the medium term, moving towards the neutral level and trying to rise. ATH will take time.
— Willy Woo (@woonomic)
The crypto market is constantly changing and it may not be a good approach to expect the same metrics to be valid every time. Considering that the previous Uptober did not start at the beginning of the month and usually started in mid-October, we can say that the possibility of Uptober happening this year is not over. Michael Poppe has been reminding us for a few days that the first weeks of October are generally a decline.
Uptober never actually started on October 1st.
— wale.moca (@waleswoosh)
Crypto analyst Whale Moca explained that Uptober will launch on October 11, 2020 because 2017 and 2017 data confirm this. He also stated that October 15 is one of the possible dates.
The current downtrend in the crypto market has left investors hesitant about whether Uptober will continue. However, the fact that past data show that the upward trend started in the middle of the month reveals that the possibility of market recovery should not be ignored. We may see the rise continue in October, especially if political tensions decrease.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
