Bitcoin indicators in the beginning of November points that Bitcoin is going to leap forward. If one sees November in previous years then one may witness that only 2011 year’s November has become negative for Bitcoin when it’s plummeted 8,6%. Another years and 2018 year maybe is not exception shows only gains for the top cryptocurrency. Moreover Bitcoin price had the greatest boost in November when it’s skyrocketed by 467%.
Bitcoin still defends 21 month exponential moving average (EMA) that is $6,130. The cryptocurrency holds this level for five continuous month and topped $7,402 in September. There is an important that a number of unique addresses used has grown up to 492435 according to the blockchain.info data. The biggest enthusiasm is derived from the awaiting fro 12th of December’s Bakkt platform launching. This plays more positive tone than the anticipation of SEC’s Bitcoin ETF approval. The Bitcoin price volatility is at the lowest level from April of 2017 year.
Bloomberg cites movements of Bitcoin’s Directional Movement Index (DMI) and postulates that “A look at the long-term trend lines in Bitcoin’s Directional Movement Index (DMI) shows it entered a new bullish phase. In addition, the price trends broke out of their VERA band upper limit, widely considered an encouraging sign. The digital token could see a rise as it approaches year-end.”