Bitcoin community makes bullish BTC price predictions for November 30, 2022

Disclaimer: The CoinMarketCap cryptocurrency community’s price estimate is based only on the votes of its users. Estimates do not guarantee end-of-month prices.

After making an upward turn, most of the cryptocurrency market appears to be slowing its advance, but the cryptocurrency community is still bullish on its largest asset – Bitcoin (BTC) – in terms of price by the end of November.

In fact, the CoinMarketCap Community votes collected via the platform’s price estimation tool currently predict that Bitcoin will trade at an average price of $ 21,006 on November 30, 2022, according to the latest data retrieved by Finbold on October 31.

As things stand, 18,919 votes cast According to press time, the decentralized finance (DeFi) token price by the end of the month would rise by $ 491.71 or 2.40% from the current price, which was $ 20,514, at the time of publication.

Social Bitcoin price estimate for November 30th. Source: CoinMarketCap

As for the long-term forecast, the community is slightly less bullish, expecting Bitcoin to change hands at the average price of $ 21,002 by the end of December 2022.

Bitcoin price analysis

Meanwhile, Bitcoin’s price stands at $ 20,514, down 1.43% over the day, but up 6.15% over the previous seven days, as well as 6.11% over the past 30 days. as the graphs show.

Since the turn of the year, the flagship digital asset has been in a downward trend, along with the rest of the market. Notably, it fell as much as 55.70% from $ 46,310, where it was on January 1, 2022.

Bitcoin YTD price chart. Source: Finbold

Also, cryptocurrency trading expert Rekt Capital believes that “a bearish monthly close of BTC would occur if BTC closed below the green support of ~ $ 20,000”, making it “a second consecutive monthly close below ~ $ 20,000”, he explained on October 31st.

Also, according to his tweet:

“And since BTC lost the green-red range in September, such a close could predispose BTC to a bearish continuation.”

Amortization against rate hikes?

The new forecasts follow the recovery of the first cryptocurrency which has risen above $ 20,000 in recent days, adding $ 30 billion to its market cap, as previously reported by Finbold. Its market cap has now returned to $ 393.98 billion.

At the same time, author of personal finance book “Rich Dad, Poor Dad” Robert Kiyosaki pointed out that Bitcoin can offer a cushion to investors amidst interest rate hikes he believes will be detrimental to stocks, bonds and real estate. .

Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.

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