Bitcoin had a record-breaking month in November 2024, with its price surging to nearly $100,000, marking a massive 50% peak-to-trough increase. Historically, Bitcoin has performed exceptionally well in the fourth quarter, particularly in November. The strengthening U.S. Dollar and a slight contraction in global M2 money supply, both of which typically have an inverse relationship with Bitcoin’s performance, seem to defy these expectations.
Moreover, Bitcoin’s current price trajectory mirrors past bull market cycles, suggesting a potential exponential growth phase. Institutional adoption and accumulation have been significant factors in supporting Bitcoin’s strength. Institutions, including Bitcoin ETFs and corporations like MicroStrategy, have accumulated billions of dollars’ worth of BTC, further tightening the available supply and creating upward price pressure.
While short-term volatility may impact Bitcoin’s gains in December, the outlook for the longer term remains exceptionally bullish. With the $100,000 resistance level now in sight, a decisive breakout could pave the way for a more significant rally in 2025. To learn more about this topic, check out the recent YouTube video: The BIGGEST Bitcoin Month EVER – So What Happens Next?
Don’t miss out on our Black Friday sale! Get 40% off all annual plans and unlock +100 Bitcoin charts, indicators, reports, and more for just $15/month.
Source
<p>The post Bitcoin’s Remarkable November: Can the Momentum Sustain into 2025? first appeared on CoinBuzzFeed.</p>
