Bitcoin (BTC) Price Prediction for November: $75K-$100K Target Based on Historical Returns

Bitcoin (BTC) has opened November surpassing the $70,000 psychological resistance after holding a few days above this level.

Bitcoin (BTC) started November on a high note, trading above the $70,000 psychological resistance after maintaining a few days above this level. As the new month begins, Finbold assessed Bitcoin’s historical returns to provide a BTC price projection for November 30.

To provide perspective, Bitcoin concluded October with 10.76% gains, achieving almost half the average and median historical returns for “Uptober.” According to data from Coinglass, November has higher average historical returns but lower median gains than the previous month.

Notably, Bitcoin’s monthly performance in November, from 2013, has seen an average gain of 42.78%. With seven positive years out of eleven, November also has a median return of 7.12%, from opening to closing.

Specifically, November’s best year was 2013 with 449.35% gains from day one to 30, followed by 2017 and 2020, with 53.48% and 42.95%, respectively. In contrast, 2018’s bear market resulted in -36.57% returns in November for Bitcoin, being its worst year, followed by 2019.

Bitcoin (BTC) price prediction by November 30

At the time of writing, Bitcoin is trading at $69,495, down from November’s opening price of $70,272. The leading cryptocurrency shows strength after breaking out of high and low time frame downtrends, successfully retesting the lower time frame (LTF).

Therefore, BTC could trade between $75,275 and $100,334 by the end of November, based on its historical returns. The prediction projects Bitcoin’s price from November’s opening using the median and average historical returns if BTC maintains its momentum.

While this analysis should not be used in isolation, Bitcoin’s historical returns provide valuable insight into what traders and investors could expect as this month’s price action unfolds.

notably, earlier this Saturday, November 2, Finbold shared two related analyses, both looking at the $100,000 price target. First, the artificial intelligence (AI) ChatGPT predicts BTC to reach this target by mid-to-late 2025. In another analysis, Alan Santana sees a similar outlook – though he believes this current rally could be a bull trap.

All things considered, Bitcoin price is inherently unpredictable, with the market being highly volatile and subject to uncertainty. Investors are advised to understand what they are buying and consider multiple factors before making any financial decision.

The above is the detailed content of Bitcoin (BTC) Price Prediction for November: $75K-$100K Target Based on Historical Returns. For more information, please follow other related articles on the PHP Chinese website!