RATE Group | Bitcoin Looks Like a “Launchpad” as Analysts Anticipate Volatile November
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Bitcoin Looks Like a “Launchpad” as Analysts Anticipate Volatile November

02 Nov Bitcoin Looks Like a “Launchpad” as Analysts Anticipate Volatile November

Posted at 21:04h in Bitcoin News by

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Bitcoin has inched higher overnight after facing a short bout of consolidation within the lower-$9,000 region. BTC still has a long way to go before it revisits its recent highs of $10,600 that were set at the peak of the recent rally.

Analysts are noting that the coming 30 days may prove to be highly volatile for the cryptocurrency, and one analyst believes that the crypto could be positioned for a massive upwards movement.

Bitcoin Inches Higher as Bullish Undercurrent Grows Stronger

At the time of writing, Bitcoin is trading up just under 2% at its current price of $9,320, which marks a slight surge from its weekly lows of just a hair above $9,000.

Bitcoin’s volatility as of late has now resulted to it falling into a relatively tight trading range between roughly $9,000 and $9,500, with a significant amount of selling pressure existing between $9,500 and $10,000.

Historically, November has proven to be a volatile month for Bitcoin, which could mean that the crypto will incur some…

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