Will Bitcoin continue its rise in November? Is it possible to see new numbers for Bitcoin 馃?
馃煝 November is considered a positive month for Bitcoin based on previous data, as 9 out of 14 months closed positively! Which means that the positive closing rate is 64%.
馃煝 The expected average rise (excluding the 445%) will be 20.98%, which means that Bitcoin, in the event of success, targets $84,984, and in the event of failure, it targets $58,066.
馃煝 I also analyzed the dates of Bitcoin's bottoms and tops in November and we noticed the following:
馃煝 We notice that Bitcoin $BTC in November has approximately scattered peaks and bottoms throughout the month, but if we take an average, the bottom is on November 7 and the peak is on November 14-16
鈿狅笍 But if we focus only on election years, because as I explained in the previous post, the closing on the US election day is usually the lowest closing that Bitcoin closes in the coming months!
馃煝 We notice the following: The bottom was in the first 2-3 days and the peak was twice in the last 5 days and once on the 19th, meaning that it tends to be at the end of the month, and this year is an election year and we expect the scenario to be repeated, God knows best.
馃専Conclusion:
Based on the data for November and being an election year, we expect a positive closing for November by 64%. We expect that the bottom of November will be before the US elections (the 5th of the month) and that the peak of Bitcoin in November will be in the latter part of the month (the last 10 days).
What do you expect since it is an election year, could bitcoin be positive this month?
