In cryptocurrencies today, Bitcoin ended October with a 3.69% monthly decline for the first time in seven years. US Treasury Secretary Scott Bessent praised Singapore’s approach to digital asset regulation, and Satoshi Nakamoto’s Bitcoin White Paper celebrated its 17th anniversary.
Bitcoin ends October in the red, but enters its biggest month of gains
Bitcoin entered November as its strongest month of gains in history, with an average gain of 42.51% since 2013. So, if history is anything to go by, Bitcoin could top $160,000 this month.
However, one cryptocurrency analyst pointed out that several macroeconomic factors are also at play.
“I think seasonal charts are very important, but they have to be combined with many other factors,” said Markus Thielen, crypto analyst at 10x Research.
Looking ahead, there are expectations that the US Federal Reserve will further lower interest rates, and the US and China are working on a trade deal. Both developments could be advantageous for Bitcoin.
But the government shutdown and U.S. tariffs have added to the economic uncertainty.
Scott Bessent praises Singapore’s adoption of cryptocurrencies
US Treasury Secretary Scott Bessent praised Singapore’s proactive approach to digital asset and stablecoin regulation, highlighting what he described as a model for effective and safe innovation in financial technology.
Speaking at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Bessent met with Singapore Prime Minister Lawrence Wong to discuss financial cooperation and the future of digital finance.
Bessent highlighted Singapore’s forward-looking regulatory regime and said the two sides discussed “expanding the adoption and use of digital assets and USD stablecoins,” according to the report.
Mr. Bessent also told APEC leaders that through continued efforts to strengthen America’s industrial and technological capabilities, the country is seeing “record levels of capital being invested in advanced manufacturing and technology sectors.”
This statement reflects the Trump administration’s mission to pursue prudent digital asset regulation while balancing innovation and financial stability.
Bitcoin White Paper celebrates 17th anniversary as BTC’s first Red October in 7 years approaches
Bitcoin’s foundational document, now in its 17th year, charted the path of the world’s first decentralized digital currency from a niche financial experiment to a $2 trillion global asset held by governments and institutions.
Bitcoin founder Satoshi Nakamoto published his first Bitcoin whitepaper on October 31, 2008, 17 years ago today, in response to the global financial crisis.
The document, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” describes a decentralized peer-to-peer network that can prevent double spending through proof-of-work (PoW) consensus.
Three months after the white paper was published, Nakamoto minted the first Bitcoin block, the Genesis block, with a reward of 50 Bitcoins (BTC), launching the world’s largest decentralized network.