The Bitcoin community provides a bullish BTC price prediction for November 30, 2022
Disclaimer: The CoinMarketCap cryptocurrency community price estimate is based solely on the votes of its users. Estimates do not guarantee end of month prices.
After turning higher, the majority of the cryptocurrency market appears to be slowing its progress, but the crypto community remains bullish on its biggest asset – Bitcoin (BTC) – in terms of its late November price.
Actual CoinMarketCap community votes collected through the platform’s price estimation tool currently estimate that Bitcoin will trade at a median price of $21,006 on November 30, 2022, according to the latest data obtained by Finbold on October 31.
As things stand, 18,919 votes cast at press time predict that the price of the decentralized finance (DeFi) token by the end of the month will increase by $491.71 or 2.40% from the current price, which was $20,514, at the time of publication.
In terms of long-term predictions, the community is slightly less bullish, expecting Bitcoin to change hands at the median price of $21,002 by the end of December 2022.
Bitcoin price analysis
Meanwhile, Bitcoin price stands at $20,514, down 1.43% on the day, but up 6.15% over the past seven days, as well as up 6.11% over the past 30 days, as charts show.
Since the turn of the year, the flagship’s digital assets have moved in a downward pattern, along with the rest of the market. Specifically, it has fallen as much as 55.70% from $46,310, where it stood on January 1, 2022.
Furthermore, crypto trading expert Direct Capital believes that a “bearish BTC Monthly Close would occur if BTC closed below green ~$20K support,” making it “a second consecutive Monthly Close below ~$20K,” he explained on 31 October.
Furthermore, according to his tweet:
“And since BTC lost the green-red area in September, such a close could set BTC up for a bearish continuation.”
Mitigation against interest rate increases?
The new predictions follow the recovery of the first cryptocurrency to rise above $20,000 in recent days, adding $30 billion to its market cap, as Finbold previously reported. The market capitalization is now back to $393.98 billion.
At the same time, the author of the book “Rich Dad, Poor Dad” Robert Kiyosaki has pointed out that Bitcoin can offer a cushion to investors amid interest rate hikes that he believes will be harmful to stocks, bonds and real estate. .
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
