Bitcoin ends October in red, but now enters its biggest month for gains

Bitcoin has typically recorded its strongest month for gains in November, and there are certainly macro tailwinds to make it happen again.

Bitcoin has stepped into its historically most significant month for gains — November — with an average increase of 42.51% since 2013 — meaning Bitcoin could surpass $160,000 this month if history rhymes. 

However, a crypto analyst noted that several macroeconomic factors are also at play. 

“I do think seasonal charts matter a lot, but it has to be combined with a lot of other factors,” said crypto analyst Markus Thielen from 10x Research. 

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