Elon Musk

Satoshi Nakamoto

Satoshi

Bitcoin

October has proven to be quite spooky for Bitcoin (BTC) and <a href="https://www.thestreet.com/crypto/trading/halloween-satoshi-nakamoto-holdings-white-paper" rel="noopener noreferrer nofollow">Halloween</a> could bring another test for the leading cryptocurrency.
In fact, the two share quite a lot.
Watch Mehab Qureshi, senior editor at TheStreet, decode the Binance hack:
<figure>
 <figcaption>
 How did hackers drain $6.3 billion from Binance in about 20 minutes (3:39)
 </figcaption>
</figure>
Oct. 31 is a day marked by Halloween celebrations for most of history but something changed 18 years ago.
On this day in 2008, an anonymous individual or a group of developers called <a href="https://www.thestreet.com/crypto/markets/satoshis-84-billion-worth-bitcoin-just-became-someones-target" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a> published the groundbreaking nine-page <a href="https://bitcoin.org/bitcoin.pdf" rel="noopener noreferrer nofollow">white paper</a> on Bitcoin.&nbsp;
The global financial crisis had left average people scarred and Nakamoto offered a vision of money free from the control of centralized control of Washington and Wall Street.
Bitcoin is hitting adulthood today and its code still remains open-source in the free-spirited manner as intended. Both, the U.S. government and financial firms, have embraced it&nbsp;after initial hesitation.
The cryptocurrency was worth only a few cents in its initial years but it is currently trading around $77,000.
October 2025 was particularly eventful for Bitcoin as it hit its peak above $124,000 on the sixth day of the month but <a href="https://www.thestreet.com/crypto/markets/-trump-china-tariffs-crypto" rel="noopener noreferrer nofollow">crashed</a> on the tenth day following President Donald Trump's tariff threat to China.
The asset took months to recover and the U.S. Treasury's&nbsp;Aug. 19&nbsp;<a href="https://www.thestreet.com/crypto/markets/gold-bitcoin-rally-as-u-s-treasury-makes-unexpected-bond-market-move" rel="noopener noreferrer nofollow">announcement</a> to&nbsp;double the amount of longer-term government bond buybacks gave a much-needed boost.
Bitcoin, which was trading around $60,000&nbsp;at the start of August, had been nearing $90,000 early this month. But a failure to consolidate the price level, coupled with the latest <a href="https://www.thestreet.com/crypto/markets/binance-major-shareholder-says-user-funds-are-safe-after-reported-2-5b-hack" rel="noopener noreferrer nofollow">$6.3 billion hack at Binance</a>, has put pressure on its price.
Halloween today brings another test for Bitcoin.
<h3 id="more-on-binance-hack">More on Binance hack:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/binance-major-shareholder-says-user-funds-are-safe-after-reported-2-5b-hack" rel="noopener noreferrer nofollow">Binance major shareholder says user funds are safe after $3B hack</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/binance-cites-1b-spacex-stake-after-elon-musk-mocks-hack" rel="noopener noreferrer nofollow">Binance major shareholder cites $1B SpaceX stake after Elon Musk mocks hack</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/how-much-of-binances-emergency-fund-is-available" rel="noopener noreferrer nofollow">How much of Binance's emergency fund is available?</a></li>
</ul>
<h2 id="bitcoin-could-see-worst-october-in-12-years">Bitcoin could see worst October in 12 years&nbsp;</h2>
As per the onchain analytics platform <a href="https://www.coinglass.com/today" rel="noopener noreferrer nofollow">CoinGlass</a>, it could be one of Bitcoin's worst Octobers in its history if it doesn't see a dramatic recovery today.
Historically,&nbsp;October&nbsp;has been&nbsp;one of the best months for Bitcoin investors as it has delivered an average return of more than 26%.&nbsp;The phenomenon has led to a coinage called <a href="https://www.thestreet.com/crypto/markets/uptober-or-rektober-what-analysts-expect-from-bitcoin-in-2026" rel="noopener noreferrer nofollow">"Uptober,"</a> which simply means a positive Bitcoin market in October.
<figure><a href="https://www.coinglass.com/today" rel="noopener noreferrer nofollow"><img src="https://www.thestreet.com/.image/c_fit%2Ch_675%2Cw_1200/MjI3Mjg1Nzk4NDY1MDUzNzI3/screenshot-2026-10-31-012601.png" height="675" width="1001"></a>
 <figcaption>
 Bitcoin Monthly Returns, Source: CoinGlass
 </figcaption>
</figure>
But there have been exceptions, earning October the&nbsp;title of "<a href="https://www.thestreet.com/crypto/markets/uptober-or-rektober-what-analysts-expect-from-bitcoin-in-2026" rel="noopener noreferrer nofollow">Rektober"</a> those few years.
<ul>
 <li>2011: 34.73% loss</li>
 <li>2012: 11.08% loss</li>
 <li>2014: 12.57% loss</li>
 <li>2018: 4.65% loss</li>
 <li>2025: 3.95% loss</li>
</ul>
In fact, Bitcoin has lost 8.23% of its value this month and it could be its worst October in 12 years.
Not only that, but the cryptocurrency has posted three positive months in a row during July-September. But it could be another "Rektober."
<figure><a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow"></a>
 <figcaption>
 BTC/USD, Source: Decibel
 </figcaption>
</figure>
Bitcoin was exchanging hands at $76,786 at the time of writing, <a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow">as per Decibel</a>.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.
<a href="https://www.thestreet.com/crypto/markets/wall-street-analyst-recommends-buying-opportunity-after-binance-hack" rel="noopener noreferrer nofollow">Related: Wall Street analyst recommends buying opportunity after Binance hack</a>

Halloween brings another test on Bitcoin's 18th birthday

Table of Contents

TheStreet Roundtable

Other articles published on Oct 31, 2026

Join our free newsletter for daily crypto updates!