How Will November Go for Bitcoin? Two Analysts Offer One Pro and One Worst Scenario!

Leading cryptocurrency Bitcoin (BTC) and altcoins are experiencing a deep ￰0￱ believe the decline was triggered by waning hopes for interest rate cuts following hawkish statements from Fed officials, the prolonged US federal government shutdown, and a sharp decline in investor ￰1￱ also believe that market liquidation pressure fueled the ￰2￱ to CoinGlass data, nearly all of the liquidated positions were ￰3￱ purging of overheated long positions further exacerbated short-term downward ￰4￱ there is speculation about whether this widespread decline in the market will continue, Fairlead Strategies founder Katie Stockton stated that technical signals also point to ￰5￱ that Bitcoin has fallen below its 200-day moving average, which is an important support level at $109,800, Stockton stated that this correction may take a few more ￰6￱ that the next support is $94,200 and that there is a risk of BTC falling below $100,000, the analyst added that despite the negativity, Bitcoin has the potential to recover in the medium and long term.

“Bitcoin has fallen below the 200-day moving average ($109,800). This is a key indicator for measuring the long-term trend and a key support level. “At this point, a technical correction could continue for several weeks. Bitcoin's next support level is $94,200.” Bitcoin Sideways in Early November!

SynFutures CEO Rachel Lin also evaluated the recent decline in Bitcoin and interpreted it as a healthy correction within the overall uptrend. Lin, who expects a sideways trend in early November, stated that Bitcoin has a chance to reach $150,000 by the end of the year. “Cautious optimism prevails in ￰7￱ may trade sideways in early November, but a recovery could be triggered once a psychological turning point is ￰8￱ current decline appears to be a correction within an uptrend. Long-term investors are still buying, and ETF inflows are holding ￰9￱ still has a chance to rally to $150,000 by the end of this year.” *This is not investment ￰10￱ Reading: How Will November Go for Bitcoin?

Two Analysts Offer One Pro and One Worst Scenario!