Cryptocurrency analysts predict what will happen to bitcoin in November

Cryptocurrency analysts shared their own forecasts for the future of the BTC in the coming month. Representatives of the platforms: StormGain, TON NFT Plus, and Crypto Holding.

According to experts, the value of cryptocurrencies directly depends on the state of affairs in traditional markets, which react negatively to the Fed’s interest rate hike. According to a representative of the StormGain exchange, given the future prospects, the pressure on the crypto industry will only increase in the near future. The price of BTC will not rise above $ 20,000, risking a drop to $ 18,000.

According to the analyst of the TON NFT Plus service, bitcoin is facing two scenarios. If the Fed doesn’t raise rates, the BTC will cost $ 27,500 in November. If the US continues to fight inflation, the flagship cryptocurrency will remain at $ 20,000.

The CEO of Crypto Holding is convinced that the BTC rate will be in the range of $ 15,000 to $ 20,000 in early November. The analyst believes that investors should not expect the digital asset industry to grow until mid-2023.

In general, market experts are divided into two camps in their opinions on the future of the industry. Some predict rapid growth of the main cryptocurrencies and altcoins despite the tense geopolitical and difficult economic situation in the United States and the world. Other analysts predict a protracted crisis for the industry. Skeptics point out that the crypto winter will not go away in the next few years, and this will significantly affect the exchange rate of cryptocurrencies from the top 100 list.