📈 What to Expect from Bitcoin (BTC) in November 2024: Analysts Weigh In

🚀 October Ends on a High for BTC
Bitcoin (BTC) is closing October strong, with a 13% surge over the past 30 days. This upward momentum has analysts optimistic about Bitcoin’s November 2024 outlook, expecting gains to continue.

📊 Factors Supporting BTC’s Bullish Outlook
Digital asset firm 10x Research predicts BTC’s rally to $73,000 could push it higher. Historically, after hitting a six-month high, Bitcoin has gained 40% in the following three months. Based on this, BTC could surpass $100,000 by January 2025, potentially breaking its all-time high in November.

💸 Influence of ETFs and US Elections
10x Research notes that the recent surge in Bitcoin ETF inflows, reaching billions, alongside US election dynamics, may bolster BTC’s price. Such catalysts have added to Bitcoin’s strength in recent weeks.

📈 Rising Dominance and Investor Confidence
Bitcoin’s market dominance has climbed to 60%, indicating investor preference for BTC’s relative stability amid market uncertainty. This trend suggests a flight to Bitcoin’s perceived safety compared to riskier altcoins.

🔍 Glassnode and the Pi Cycle Top
On-chain data from Glassnode supports 10x’s outlook. The Pi Cycle Top model suggests BTC could rally to $115,903, hinting at a potential all-time high breakout in November. Michaël van de Poppe of MN Trading echoes this bullish sentiment.

💥 BTC Price Prediction: Minimum $76,000 in November
BTC maintains a bullish technical setup on the daily chart, targeting above $72,319. With strong momentum, as indicated by an ascending Relative Strength Index (RSI), Bitcoin’s current trajectory mirrors past rallies leading to all-time highs, pointing to continued gains in November.