Crypto Currency News

Bitcoin price starts November with a 2% advance and expectations of a new ATH

The main cryptocurrency touched $ 62,000 again

Bitcoin (BTC) started the week with a new jump of 2% and climbed again above $ 62,000, although in the last hours it fell a few cents. The leading cryptocurrency closed October with a 30% jump, and continues to strengthen above $ 60K. As of press time, the price of BTC is $ 61,503.

The penultimate month of the year arrives loaded with optimism for crypto experts. The popular analyst Plan B, recognized for its Stock to Flow (S2F) model – which analyzes the existing reserves of the market based on the supply of BTC – believes that the cryptocurrency will have an extraordinary jump in the next 30 days.

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According to the specialist, BTC could grow 60% before December and would close the month above USD 98,000, just below the shocking level of USD 100K. The most surprising thing about his analysis is that he got August, September and October right.

On its Twitter account, Plan B recalled that it predicted that the price of BTC would close at USD 47K in August, USD 43K in September, and USD 61K in October, where it was only 3% wrong.

“Okay, okay, 3% rounding error close enough for me. Upcoming targets: November at $ 98K, December at $ 135k, “the analyst wrote. If BTC registers the same behavior as the last two months of 2020, its prediction has a good chance of coming true.

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The rest of the crypto market also started November with some major jumps. Ether (ETH) jumped 3% and is currently trading above $ 4,350. Binance coin (BNB) rose by the same measure and hit $ 534 again.

Litecoin (LTC) grew 2% and its price is at $ 193, while Cardano (ADA) is up just 0.5% and is trading at $ 1.96.

The big jump of the day was from Polkadot (DOT) and reached USD 48. Shiba Inu ( SHIB ) also stood out with 10% and continues above Dogecoin ( DOGE ), which rose 4% and reached USD again 0.27.

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