What Will November Rain Bring for Bitcoin This Year?

[jekz]

As November is approaching and Bitcoin price is stuck in a crucial range, the cryptoverse is increasingly debating what will the next month bring this time.

Tom Lee, Wall Street market analyst and Bitcoin bull, remains convinced that Bitcoin could still surpass USD 20,000 - even in spite of the year-long bear market. In an interview with Heidi “BlockchainChick,” a crypto influencer, he said that “people are too bearish” and that there is still time for his prediction to come true.

The head of Fundstrat Global Advisors, a market analyst company, explained: “What happens is, people get bearish because it makes sense. I mean, market’s been terrible and we’re below 200-day [moving average] and we [at Fundstrat] published a report this week that pointed out to our clients that when Bitcoin is under its 200-day, it only goes up 50% of the time in the next six months. But when it’s above its 200-day, it is up 80% of the time, so the trend implied by the 200-day is obviously very important.”

He still stands by his USD 20,000 prophecy: according to Fundstrat’s research, by year’s end, the break-even cost of mining bitcoin will rise to USD 8,000 - USD 9,000. According to the analyst, bitcoin often trades at over two times its break-even - and sometimes even three to four times the number - so Lee doesn’t consider his price prediction all that bullish in the first place.

However, there is still a big question in the air: what’s the bottom? “Until people are convinced that there’s a bottom, like there are a chicken and an egg, you can’t motivate people until the [bottoming] event happens,” he adds.

[Kyoshiro]

Well, its hard to depict things that might happen in cryptoworld. However, the hope that BTC will regain its price peak is still on even though there might be possibilities that it can never go up again. The fight for patience is still going on to those holders and investors.

[Mehira01]

You're right, Bitcoin is still flushed, but it's still relatively stable, and still has value, I believe at the end of this year the price of Bitcoin will definitely soar and will grow green again. that's my hope.

[Mavalet]

As November is approaching and Bitcoin price is stuck in a crucial range, the cryptoverse is increasingly debating what will the next month bring this time.

Tom Lee, Wall Street market analyst and Bitcoin bull, remains convinced that Bitcoin could still surpass USD 20,000 - even in spite of the year-long bear market. In an interview with Heidi “BlockchainChick,” a crypto influencer, he said that “people are too bearish” and that there is still time for his prediction to come true.

The head of Fundstrat Global Advisors, a market analyst company, explained: “What happens is, people get bearish because it makes sense. I mean, market’s been terrible and we’re below 200-day [moving average] and we [at Fundstrat] published a report this week that pointed out to our clients that when Bitcoin is under its 200-day, it only goes up 50% of the time in the next six months. But when it’s above its 200-day, it is up 80% of the time, so the trend implied by the 200-day is obviously very important.”

He still stands by his USD 20,000 prophecy: according to Fundstrat’s research, by year’s end, the break-even cost of mining bitcoin will rise to USD 8,000 - USD 9,000. According to the analyst, bitcoin often trades at over two times its break-even - and sometimes even three to four times the number - so Lee doesn’t consider his price prediction all that bullish in the first place.

However, there is still a big question in the air: what’s the bottom? “Until people are convinced that there’s a bottom, like there are a chicken and an egg, you can’t motivate people until the [bottoming] event happens,” he adds.

We sit like this every month and wait for something!Personally, my opinion is that this year we will not see a big increase.We can only hope for 2019, I hope it will not fail!

[aiviaa485]

it depends on the market, if the market continues to rise then I make sure everything will be beautiful when it's time.
But if it continues to decrease then the rain you want will never happen.

[Legends]

as a crypto lover, we only hope this year will be like last year where the crypto prices are soared at the end of the year. now, we can only wait and be more patient.