Compass Point forecasts a bullish October for BTC

U.S. investment bank Compass Point has a bullish outlook for Bitcoin in October. According to CNBC, the bank noted that since 2013, Bitcoin has risen in 10 out of 12 Octobers, showing a clear pattern of rebounding after weakness in September. Compass Point also suggested that growing uncertainty from the U.S. government shutdown is prompting some investors to select Bitcoin as a hedge. However, the bank analyzed that because Bitcoin rose 9% last month—a stronger performance than in previous years—the scope for additional gains this October could be somewhat limited.