The Famous Name, Who Says Bitcoin’s Real Rise Will Be in November, Announces His Price Target!

It showed a good performance in October, which is known as Uptober, that is, the month of rise. Bitcoin It rose to $36,000.

However, those who cannot maintain this level BTCIt dropped to $34,130.

While investors were wondering whether the decline would continue, a bullish comment for BTC came from Rachel Lin, co-founder of the decentralized exchange SynFutures.

Speaking to The Block Rachel Lin said Bitcoin could reach $47,000 by the end of November.

At this point, Lin stated that BTC performed better in November than in October, which is called “Uptober”.

Lin stated that looking at historical data, November is generally better than October, and that the average return of Bitcoin in November exceeded 35%.

If history repeats itself, this prediction of the famous name means that Bitcoin will reach around $ 47,000 by the end of November.

“Last week cemented October’s reputation as the ‘Uptober’ as Bitcoin witnessed an almost 29% increase in value.

What’s even more interesting is that when we look at historical data, November tends to be even better than October, with an average return of over 35% on Bitcoin.

“If similar returns are achieved this November, we could see BTC reach around $47,000 by the end of November.”

Stating that apart from the price, there has also been an increase in the number of users and transactions in the crypto market, Lin said that this increase is another positive sign for the crypto ecosystem.

“The increase in spot volume continues to be notable, with a significant increase in large Bitcoin transactions exceeding $100,000.

This is a clear indication of increasing institutional interest. “If we look at last week’s asset flow, we see that approximately $325 million flowed into the sector, of which almost $300 million went to Bitcoin.”

*This is not investment advice.