The Breakdown November Was BTC's Biggest Monthly Gain Ever
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Dec 3, 2024 Bitcoin experienced its largest monthly gain ever, sparking renewed enthusiasm in the cryptocurrency market. The discussion dives into the dynamics of Bitcoin and Ethereum's rally, brushing on the potential shift towards altcoins. Analysts speculate on Bitcoin reaching the $100,000 mark as investor sentiment turns bullish. The rising impact of nation-states and major companies like Microsoft adopting Bitcoin is explored. Additionally, the revival of NFTs signals a new dawn for crypto investments, highlighting a vibrant market landscape.
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Bitcoin's Record Month
- Bitcoin's November gains exceeded all previous months, adding $26,000 to its price.
- Despite this, the focus remains on reaching $100,000, with CME futures already trading above this mark.
Bitcoin Accumulation
- Spot Bitcoin accumulation is high, with exchange supply dwindling.
- Analyst Willie Wu highlights this "supply shock," likening it to a "Bitcoin vacuum cleaner."
Second Cycle Investors
- Many investors are entering their second Bitcoin cycle, seeking guidance.
- Charles Edward suggests the market is positioned for further gains, referencing similar historical patterns.