Bitcoin price prediction: can $83,576 be reached by the month's close?

On the record: Bitcoin stands at $80,283 at midday on Monday, October opened at $83,576, and $3,293 to the upside are missing with the month closing on Saturday. Our own reading follows further down: the arguments for and against a green monthly balance sit in the editorial assessment section.

October 31 is a Saturday. That sounds like a side note, but it settles which closing price the month enters into every statistic investors will read in November. Where the price can point on a horizon of months is set out in our Bitcoin price prediction. This article answers the narrower question: what would have to happen in the five remaining trading days for October not to end as a losing month.

Where things stand: $80,283 and 3.9 percent from the monthly open

Bitcoin trades at $80,283 at midday on Monday. CoinMarketCap shows $80,103 at the same hour, so the spread between the two data sources runs to roughly $180. Over the past 24 hours the price moved between $79,332 and $80,825, a daily range of 1.88 percent. It is down 3.0 percent on the week and 4.7 percent on the month.

October opened on October 1 at $83,576. That sets the gap at issue over the coming five days: 3.9 percent below the monthly open. For the month to close positive it takes a rise of 4.1 percent, measured from the current level. That is no large move for Bitcoin, but this October has not shown it on a single day.