Cryptocurrency experts predict bitcoin’s growth to $ 45,000 in November

Over the past week and a half, bitcoin has significantly strengthened its position, and strong bullish sentiment has returned to the market. Against this background, many industry experts are discussing the future prospects of the main cryptocurrency. Some experts have suggested that a deep correction of BTC can be expected after a serious increase in value. However, an analyst known by the pseudonym CryptoCon has a different view — in a recent forecast, he emphasized that bitcoin could reach $ 45,000 next month.

In his analysis, CryptoCoin used the Fibonacci tool. He noted that the flagship crypto asset should definitely gain a foothold above $ 36,500 — only then can we count on further sustainable growth. Another analyst, Rekt Capital, believes that bitcoin first needs to test global support before the bullish phase of the market begins.

The expert explains that according to statistics, it often happens that the flagship crypto asset loses a lot of value before the halving, and immediately afterwards, an upward trend begins. Meanwhile, bitcoin has not yet managed to overcome the $ 35,000 resistance zone.

Over the past few days, buyers have been trying to break through this mark. However, sellers managed to hold it back. However, the asset still has the potential to strengthen its position. This is mainly due to a favorable fundamental background. At the moment, investors are confident that the US Federal Reserve will soon begin to systematically complete the stage of monetary policy tightening.

At the time of writing, bitcoin is trading at $ 34,011, down almost 2%. The market capitalization amounted to $ 663.9 billion, and traders executed daily trading deals worth $ 18.3 billion. The market dominance of the RTS amounted to 53%.