Bitcoin may not have met investors and traders Uptober (October) expectations, but it at least succeeded in ending the month on a pleasant note by registering a 5.56% upsurge.
BTC managed to retain its $20k status, while the cumulative market cap vied to stay above the $1trn mark.
June- July saw BTC testing the $20k level a couple of times and eventually rose to $25.5k by mid August. But by September and major part of October, retaining that mark seemed to be a loosing battle.
Late October saw an upward incline in price for Bitcoin as it rose from $19,272.92 to $20,700 and has remained at the $20k mark till November.
Excited for this development, co founder and chairman, Web3 ecosystem, WeWay, Riduan Abdesalam was quoted saying; "that BTC stayed above the $20,000 level is a positive that marks a good springboard for November"
This comment is borne out of previous data which was coined out from Coinglass, where BTC investors seemed to have fetched negative returns in that month.
And according to Coinshares, Bitcoin saw an increase totalling $13m and was the reason the surge in trading rose by 70% in volumes
While things are looking up for the coin, it would still be wise to trade with caution as it has not gone out of the woods yet but he still is optimistic that if the current buying momentum sustains, it could help BTC grow above $21k.
https://watcher.guru/news/this-level-is-a-good-springboard-for-bitcoin-in-november
