Bitcoin pleased investors with growth in October. Members of the crypto community are wondering whether the coin will be able to continue its upward movement next month.
Experienced experts shared their forecasts in an interview with BIC.
Typical November for Bitcoin
History shows that November is not the worst time for Bitcoin. Over 13 years of observation, the coin closed the month with a fall only 5 times. History also shows that in previous years, BTC rose in November if the previous two months were positive. In September and October 2024, Bitcoin rose in price.
How the price of Bitcoin has changed. Source: bitcoinmonthlyreturn
Bitcoin forecast for November 2024
Rafik Mamin, CEO of Minestream, believes that the coming weeks will be decisive for Bitcoin.
BTC, according to the expert, can choose a direction depending on the outcome of the US presidential elections, which are scheduled for November 5. Trump’s victory, according to Rafik Mamin, “could become a catalyst for a sharp increase in the price of cryptocurrency.”
Alexander Peresichan, CEO of TEHNOBIT, is inclined to continue the growth of BTC in November. Investors, in his opinion, should focus on the levels of $75,000–80,000.
Ryan Lee, Principal Analyst at Bitget Research, joined the discussion. He believes that Bitcoin has every chance of updating its absolute maximum this month. In his opinion, the growth prospects for BTC are indicated by the results of technical analysis. The positive dynamics of the cryptocurrency, Ryan Lee is sure, will also be supported by the presidential elections in the United States, the influx of crypto-ETF funds and the Fed’s movement towards lowering the key interest rate.
Mike Lvov, director of PR and communications at EMCD, in turn, believes that by the end of the year investors will see Bitcoin at $80,000.
Polina Demchuk, CEO of TradeSanta, is also expecting a new high from BTC. She believes that Mike Lvov’s forecast of Bitcoin at $80,000 could be realized in November.
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Source: Cryptocurrency
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