Bitcoin Price Could Flip Bullish In November As It Mirrors Previous Cycles, Analyst

2023-10-11 20:00

Bitcoin analysts eagerly scrutinize the charts as November approaches, hoping to gain insights from past cycles. Historically, November has always been significant for the cryptocurrency market, as BTC usually gains value, affecting other coins. 

According to crypto analyst Miles Deutscher, November promises to be a pivotal month for Bitcoin enthusiasts and investors.

Bitcoin’s Ongoing Sideways Trend Hints At Potential Bullish Shift In November

Market experts suggest that Bitcoin’s stagnant price movement might transition to a bullish trend in November. According to them, this could occur if it behaves similarly to past cycles before a halving event. 

For instance, on October 10, cryptocurrency analyst Miles Deutscher referenced a chart from CryptoCon. In the X post, Miles highlighted the parallels between Bitcoin’s recent patterns and those observed in earlier cycles.

#Bitcoin’s recent price action is still mirroring the last 2 cycles.

This is typical sideways price action that occurs from Q2-Q4 in pre-halving years.

November 21st has historically been the key pivot point for a bullish shift. Will be interesting to see how $BTC responds. pic.twitter.com/zP9vlG31Qc

— Miles Deutscher (@milesdeutscher) October 10, 2023

He added that around November 21, the price of Bitcoin usually starts going up a lot, getting ready for the next halving event. This date holds significance as a turning point in Bitcoin’s price trajectory.

For instance, in 2015, when Bitcoin’s price was ranging for about six months, it began to go up in November. Similarly, in 2019, the price of Bitcoin didn’t change much for most of the year, but then it started to increase towards the end of the year.

Other Crypto Analyst Predicts Similar Price Projections

Another prominent crypto trader and analyst, Mags, noticed something interesting in Bitcoin’s chart. According to the analyst, Bitcoin’s price is about 60% lower than the highest price it ever reached. This happened around 200 days before its previous halving, just like in 2015 and 2019.

The analyst wrote:

In 2016, BTC was -65% below its ATH. In 2019, BTC was -60% below its ATH. In 2023, BTC is currently -60% below its ATH. So, even if it seems like Bitcoin’s price isn’t moving much, it’s following a similar pattern to previous cycles.

Another crypto analyst, Galaxy Trading, posited a similar prediction for Bitcoin’s price move. The analyst drew attention to 2018-2019 when Bitcoin’s price hit a significant bottom. He noted that Bitcoin could dump or bottom around Nov 10-15 this year if we see a similar price move.

Additionally, lead researcher at Matrixport, Markus Thielen, said that Bitcoin’s price might go up massively by the end of 2024. However, he thinks it will happen for different reasons than what we’re seeing now.

He drew attention to some critical areas in August 2012, December 2015, May 2019, and August 2020. According to him, the bullish market commenced within 12 to 18 months in each case.

However, the Bitcoin halving is around six months away and might occur in late April or May, depending on your countdown timer.

The analysis from different observers is signaling a positive outlook for the price of Bitcoin before the next BTC halving. Meanwhile, today, October 10, BTC trades at $27,568, indicating a slight gain in 24 hours with a volume of $12,189,678,605.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 65906.09 (+0.12%)
Объем 24H $38.052b
Изменеия 24h: 7.17 %, 7d: 7.28 %
Cегодня L: $65906.09 - H: $65980.52
Капитализация $1299.287b Rank 1
Цена в час новости $ 27468.43 (139.93%)

november bitcoin cycles significant always past historically

Источник: newsbtc.com

november bitcoin → Результатов: 126


Bitcoin Price Analysis | November 8, 2018

Resistance levels: $6,509, $6,543, $6,609 Support levels: $6,439, $6,356, $6,286 BTC/USD Medium-term Trend: Bullish BTC is in a bullish trend on the medium-term outlook.  The Bulls return to the BTC market was noticed on October 31, when a strong bullish engulfing candle, formed at the $6,208 price level below the support level of $6,286 closed […] The post Bitcoin Price Analysis | November 8, 2018 appeared first on ZyCrypto.

2018-11-8 20:22


Фото:

Bank of Israel Publishes a Report On Central Bank Digital Currencies

The Governor of the Bank of Israel, in November 2017, appointed a team of research analysts to explore the possibility of introducing Central Bank Digital Currencies (CBDC). According to the report, published on November 6, 2018, the team raised many concerns and did not recommend the Bank of Israel to progress forward with a digital currency in the near future.

2018-11-8 18:00


Фото:

Abu Dhabi Securities Exchange Plans Infrastructure Required For Crypto Assets

The Abu Dhabi Securities Exchange (ADX) recently issued a thought paper detailing the infrastructure required for crypto assets, distributed ledger environments, and financial markets. According to a post published by the ADX on November 6, 2018, the paper serves as a reliable reference to help financial institutions transition from conventional assets to crypto assets.

2018-11-8 16:00


Bitcoin, Blockchain and Cryptocurrency News For Today November 7th [VIDEO] – Part 2

Hackers Attack Gate.io Exchange Infecting 700,000 StatCounter Sites with Bitcoin-Stealing Malware Hackers Attack Gate.io Exchange Infecting 700,000 StatCounter Sites With Bitcoin-Stealing Malware Overstock CEO Boldly Claims Bitcoin is the Solution After the Looming Financial System Collapse Overstock CEO Boldly Claims Bitcoin is the Solution After the Looming Financial System Collapse Respected Bitcoin Trader ‘Crypto Rand' […]

2018-11-8 08:13


Фото:

Maritus Regulators to Equip Crypto Businesses with Custodial Licenses

Due to the inadequacies of the previously laid down guidelines for its blockchain and cryptocurrency industry, the Financial Services Commission (FSC), Mauritius’ financial watchdog, has drafted new regulations to cover its DLT ecosystem and crypto-based businesses are now required to obtain a custodial license for cryptoassets, reported Finance Magnates on November 6, 2018.

2018-11-8 06:00


Фото:

Bitcoin Mining ’50 Times More Useful’ – Barry Silbert Rebuts Energy Cost vs. Gold

Cryptocurrency industry figures continue to hit back at negative stories about Bitcoin mining in mainstream media, Barry Silbert claiming mining Bitcoin was “50 times more useful” than gold. What’s In A Number? In a tweet November 6, the Digital Currency Group founder and CEO rebutted claims over Bitcoin mining which originally surfaced in the Nature International Journal of Science.

2018-11-8 02:00


Фото:

Marshalls Island President Heine’s Cryptocurrency Plan Faces No-Confidence Vote

Marshalls Island President Hilda Heine’s controversial plan to introduce a sovereign cryptocurrency faced a lot of opposition in local Parliament and from the International Monetary Fund (IMF). According to The Guardian’s article published on November 5, 2018, President Hein’s cryptocurrency plan was met with sharp criticism from eight senators, which led her to her first vote of no-confidence.

2018-11-7 20:00


Фото:

Bitcoin Mining Hardware Manufacturer Bitmain Releases New 7nm Antminer Hardware

On November 5, 2018, the mining rig manufacturer Bitmain Technologies has officially released two new 7nm (nanometer) “Antminer” crypto mining machines, which will go on sale on November 8. Bitcoin Mining Behemoth Releases Antminer Hardware Bitmain, the largest bitcoin mining firm in the world and one of the most valuable companies in the cryptocurrency industry, has announced that it will.

2018-11-7 19:00


Фото:

Texas State Securities Board Takes Emergency Actions Against Crypto Fraudsters

The Texas State Securities Board entered emergency action on November 6, against two fraudulent companies involved in cryptocurrency mining activities. AWS Mining PTY Ltd and EXY Crypto had been allegedly deceiving investors promising unrealistic returns, enticing them through social media platforms and by recruiting unlicensed multilevel marketing agents, respectively.

2018-11-7 18:59


Фото:

Deloitte and Attest Partner To Bring Digital Identity Blockchain Solutions To Government

Deloitte, a multinational professional services network, and Attest, an identity management organization recently partnered to help Government clients with their digital identity challenges. According to the press release published on November 5, 2018, the collaboration will help Government organizations transform their existing systems with blockchain technology.

2018-11-7 18:00


Фото:

Witheblock Study Claims EOS Not a Blockchain, Has Significantly Lower TPS Than Advertised, and Is Nothing but Ram Market and Cloud Service

A Blockchain performance testing company completed a 3 months long independent benchmark testing on the EOS Blockchain. The test results published by the company on November 1st drew the inference that EOS doesn’t meet the technical requirements to be classified as a Blockchain and that it has substantially lower transaction throughput capabilities than what EOS […] Witheblock Study Claims EOS Not a Blockchain, Has Significantly Lower TPS Than Advertised, and Is Nothing but Ram Market and Cloud Service was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-7 17:59


Фото:

Venezuela Traded More Bitcoin Than Ever Before In October

Venezuela set a new Bitcoin trading record last week as the country embraces cryptocurrency more than ever. Venezuela Trades 1075 BTC in 7 Days According to data from monitoring resource Coin Dance, despite continued volatility in the country’s dubious redenominated currency the Sovereign Bolivar, trade volumes for the seven days ending November 3 still beat all previous highs.

2018-11-7 17:00


Bitcoin PR Buzz Upgrades PR Services Drops Price up to $800

Bitcoin Press Release: The first blockchain PR agency in the world, Bitcoin PR Buzz has reduced package prices, expanded its media outreach capabilities and upgraded its services. November 7th, 2018, Belize City, Belize – As the original Bitcoin PR agency with over 4 years experience and over 600 clients, Bitcoin PR Buzz has worked with […] The post Bitcoin PR Buzz Upgrades PR Services Drops Price up to $800 appeared first on Bitcoin PR Buzz.

2018-11-8 15:53


Фото:

BitFury $80M Funding Round Attracts Galaxy Digital’s Novogratz

Bitcoin mining infrastructure company BitFury Group has closed a private funding round worth $80 million from both global and cryptocurrency-focused investors. Cash To Fund ‘Hardware And Software’ Objectives In a press release November 6, BitFury, which is also rumored to be planning an IPO, revealed Mike Novogratz’s Galaxy Digital to be among the participants in the round, which was led by European venture capital firm Korelya Capital.

2018-11-7 11:00


Bitcoin, Blockchain and Cryptocurrency Daily News Recap for November 6th [VIDEO]

Venezuela’s Supreme Court Orders Petro Crypto Compensation Payment in Workplace Injury Case Venezuela’s Supreme Court Orders Petro Crypto Compensation Payment in Workplace Injury Case Hong Kong Crypto Exchange to Shut Down Its BTCC Pool Limited Mining Business Hong Kong Crypto Exchange to Shut Down Its BTCC Pool Limited Mining Business Depository Trust & Clearing Corporation […]

2018-11-7 08:36


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed.

Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top

On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021. Bitcoin Long-Term Holder Distribution Appears To Be Ending As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of […]

Bitcoin HODLer Profit-Taking Calms Down After Wild Selling Spree: Green Sign For Rally?

On-chain data shows the Bitcoin long-term holders have finally cooled off their profit-taking after showing a wild selloff just earlier. Bitcoin Coin Days Destroyed Has Calmed Down For BTC Recently As pointed out by BTC on-chain research account “The Bitcoin Researcher” in a post on X, the Coin Days Destroyed In Profit metric has declined […]

Bitcoin Supply Shock: Exchange Inflow Trend Lowest Since 2015

On-chain data shows the Bitcoin exchange inflow trend has been at its lowest in almost a decade recently, a sign that may be bullish for the asset. Bitcoin Exchange Inflows Have Been On The Decline Recently As pointed out by CryptoQuant author Axel Adler Jr in a post on X, the BTC exchange inflows have […]

Bitcoin To Reach Escape Velocity? Analyst Makes The Case

An analyst has explained how Bitcoin seems to be showing a good setup to reach escape velocity based on the trend in this indicator. Bitcoin VWAP Oscillator Has Been Showing A Bullish Divergence As explained by analyst Willy Woo in a new post on X, a bullish divergence has appeared to be forming in the Volume-Weighted Average Price (VWAP) oscillator of the cryptocurrency.