Bitcoin (BTC) prices recorded a rather volatile year in 2023, brought on by a wave of stories ranging from bank collapses to macroeconomic events and finally renewed interest growing number of institutional players. Spot Bitcoin ETFs have been the talk of Q3 and Q4. Additionally, investors are also eyeing the BTC halving event which is just six months away.
Can November be better than October?
Bitcoin (BTC) price boasted a commendable move north in October, bringing BTC holders back above the enviable $30,000 level. At the time of writing, Bitcoin price is trading at $34,223, after recording its highest weekly close in 78 weeks.
The surge in #Bitcoin prices “has generated optimism among investors after the recent rally delivered significant profits to them.”
Bitcoin price chart 1 day. Source: TradingView
Meanwhile, as October comes to a close and with it the “Uptober” saga, the party may not be over yet as November has historically proven to be the best performing month for the cryptocurrency king death.
According to the table below, Bitcoin recorded average monthly returns of 6.20% in Q1, 30.49% in Q2, 4.21% in Q3, and 93.38% in Q4 over ten last year. The numbers show that BTC is gaining momentum between Q2 and Q4, with Q4 proving to be the best at 93.38%.
In particular, the second quarter, notably April, is always a good month for Bitcoin price, but not as good as the fourth quarter, specifically November.
Bitcoin Quarterly Returns from 2013 to 2023.
It must be admitted that in all these years, even though there was no spot Bitcoin #ETFs fund, Bitcoin could still do well. If history repeats itself, and with current optimism about US Securities and Exchange Commission (SEC) approval fueling investor appetite, November could exceed expectations.
With November boasting a record of impressive performances, Wednesday could kick off the season to get HODLers excited, potentially kicking off a victory march for “Movember.”
https://tapchibitcoin.io/bitcoin-thang-11-co-the-tot-hon-thang-10.html
