$BTC Opinion: Bitcoin to Soar to $47,000 by End of November
The first cryptocurrency could reach $47,000 by the end of November 2023. This opinion was expressed by Rachel Lin, co-founder and CEO of decentralized derivatives exchange SynFutures, in a comment to The Block.
“Last week solidified October’s reputation as Uptober, with Bitcoin adding nearly 29%. What’s even more interesting is that historically November has outperformed October, with an average return in Bitcoin of over 35%. If this November brings similar returns, the asset will reach around $47,000,” she said.
An additional positive factor, she noted, is the growth in the number of users and transactions. Particularly notable, according to Lin, is the surge in spot trading volume, with a notable increase in transfers over $100,000.
