[2021-11-01] Bitcoin ‘Moonvember’ begins as data shows November is best month f

[waybesuricata]

It may turn out to be a race to the finish for both traditional and crypto markets, if historical data is anything to go by.


Bitcoin (BTC) bulls are betting on a solid month for BTC price action, as November traditionally sees strong gains for United States stocks.

Data shows that November has been the best performing month for the S&P 500 since 1985.

November 2021 has stiff competition
With “Uptober” already the biggest month in terms of gains for Bitcoin in 2021, odds are stocks could act as a catalyst for further upside in “Moonvember.”

Median S&P 500 progress in November over the past 35 years has been just over 2% — making it the only month to achieve those median returns.

At the same time, over 70% of years have seen positive returns, and Bitcoin’s history is similar.

In November, BTC/USD has ended up higher than when it started with the exception of just two years: 2018 (-36.5%) and 2019 (-17.2%).

2020 conversely saw 43% gains, leaving the door open for a rematch in line with expectations.

Source and continuation of news: https://cointelegraph.com/news/bitcoin-moonvember-begins-as-data-shows-november-is-best-month-for-s-p-500

[Argoo]

I agree with these statements. The fourth quarter has almost always been very good for cryptocurrency prices to rise. Therefore, I soon expect its significant growth by the end of the year, and maybe after the beginning of the next, as it was in the first and half of the second quarter this year. Now it is also a good situation for this in the international arena. After the ban on mining and cryptocurrency transactions in China, we no longer see any significant negative information regarding cryptocurrency. Therefore, Bitcoin has a good chance to rise in price to $ 100,000 in the near future.

[bbc.reporter]

This is where to get the data. You can change the graph from daily, to weekly, to monthly and to quarterly.

https://www.coinglass.com/today

I am presently moderately cautious on the market, however, yes November will be another positive month for bitcoin and much of the cryptospace market. But be ready for the bubble pop. It might be on December, January or February.

[buwaytress]

I am presently moderately cautious on the market, however, yes November will be another positive month for bitcoin and much of the cryptospace market. But be ready for the bubble pop. It might be on December, January or February.

I'm probably unchanged since the end of September. The new ATH was, admittedly, some kind of a slight letdown. Still, that's tempered by the fact that the rally cycle is about to stretch well into 12+ months. Finish November on a high, with a couple more new ATHs, and yeah, more and more analysts will expect extensions of the rally into at least Q1.

I'll be the first to admit some disappointment if we don't go anywhere near 6 figures. S2F model desperately needs the 100k in December or it's invalidated so proponents will be gunning for Nov.

[bbc.reporter]

@buwaytress. You reckon the bull market to continue for more than 12 months? I am very much skeptical of that. Who would be taking billions more of leverage to pump this market? 4 more months before bubble pop hehe.

[buwaytress]

@buwaytress. You reckon the bull market to continue for more than 12 months? I am very much skeptical of that. Who would be taking billions more of leverage to pump this market? 4 more months before bubble pop hehe.

I meant the current one. December last year was when we crossed over into 20k territory, still pretty fresh in my mind, so we've actually entered the 12th month of the rally. Some people would say November 2020 even was the start of the rally, so we're already into the 13th month if so. So if it's 4 more months before the pop, this would be the longest rally yet without much of a parabola. So I'm not sure how useful the data is, if we're using past benchmarks that look less and less relevant.

[cr1776]

@buwaytress. You reckon the bull market to continue for more than 12 months? I am very much skeptical of that. Who would be taking billions more of leverage to pump this market? 4 more months before bubble pop hehe.

Who is to say this is leverage?  Why not consider it is usage or just unlevered demand?  There is plenty of bitcoin that is off the market at anything near the current fiat prices, why not consider that more is being added like that? 😀

Sure, if bitcoin was solely a trading vehicle with unlimited supply, but it isn't.

[bbc.reporter]

@cr1776. If I say that much of the market is unlevered buying then I would be telling a lie. This is the problem, much of the people do not accept that it was leverage that has taken bitcoin from $3k to $60k. Michael Saylor is an example of this. He issued debt using his company to buy bitcoin.

[nikolajdk]

I have allocated an hour a day to wrap my head around Crypto and NFT's. Seems like things accelerate at a rapid speed at the moment

Nikolaj / www.rudefix.dk

[stomachgrowls]

@buwaytress. You reckon the bull market to continue for more than 12 months? I am very much skeptical of that. Who would be taking billions more of leverage to pump this market? 4 more months before bubble pop hehe.

I meant the current one. December last year was when we crossed over into 20k territory, still pretty fresh in my mind, so we've actually entered the 12th month of the rally. Some people would say November 2020 even was the start of the rally, so we're already into the 13th month if so. So if it's 4 more months before the pop, this would be the longest rally yet without much of a parabola. So I'm not sure how useful the data is, if we're using past benchmarks that look less and less relevant.

Normal for people to name of names whenever they do experience some good things which back in the past on where December is the relevant month when it comes on possible increase but now
people does have the impressions already been changed up to November and calling it Moonvember? Not surprising honestly.

Catalyst? Im not really that sure on believing to those factors behind but theres always that probability because there are no other reasons we could tie up into and its just a normal
behavior.

Common fundamentals specially on economic side could neither be that precise or not and that what makes that unpredictable most of the time.

[Slow death]

wow today bitcoin price has dropped way down to $55000, is it that people are selling because they didn't see some physical ETF get approved? or are they selling because they want to spend the Christmas festivities (although it doesn't make much sense, but as in this market everything is possible). anyway if the price drops below $52000 we will see $47000 again and probably $44000 or $39000 again