Bitcoin has seen its lowest prices for 2018 once the November dips started out approximately two weeks ago.
BTC started out this month with 111 billion dollars only to drop to 64 billion in the course of three weeks. However, we can now see Bitcoin climbing up by 13% in a single day, reaching 73 billion in market cap in only several days from the starting point of 64 billion.
The trends in the market are definitely cutting prices en mass, but it appears that the end of the month is bringing some significant progress at least on a daily level, although the recent gains are not enough to pull the market out of the crisis.
Having BTC breaking the resistance of 4,000$ and trading at 4,213$ might push the value further to the end of the month and perhaps even secure a new bull run session for Bitcoin.
Bitcoin Surging with the Rebounding Market: Will the Gains Prevail?
Bitcoin entered the month above the value of 6,000$ trading at the price of nearly 6,400$ on the 1st of November.
However, the top cryptocurrency soon went down with the dipping market, only to reach its lowest value of below 4,000$ with going over to the value of around 3,900$.
With Bitcoin declining in a giddy fashion, it seems that more and more investors were retreating from the market, sending Bitcoin to a prolonged surge with the rest of the crypto market.
During November dips, BTC was able to pull out several rebounds with the rest of the market, but the gains weren’t enough to provide a significant positive return and none of the positive market trends have survived more than 24 hours in the last several weeks.
That is how many have proclaimed Bitcoin as dead, which is one of the numerous cases when BTC was predicted to meet its demise.
With the latest mass rebound in the market, Bitcoin and the rest of its crypto peers might have a chance for entering December with revisiting highs instead of dropping to new lows.