Bitcoin has inched higher overnight after facing a short bout of consolidation within the lower-$9,000 region. BTC still has a long way to go before it revisits its recent highs of $10,600 that were set at the peak of the recent rally.<\/p>\n
Analysts are noting that the coming 30 days may prove to be highly volatile for the cryptocurrency, and one analyst believes that the crypto could be positioned for a massive upwards movement.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up just under 2% at its current price<\/a> of $9,320, which marks a slight surge from its weekly lows of just a hair above $9,000.<\/p>\n Bitcoin\u2019s volatility<\/a> as of late has now resulted to it falling into a relatively tight trading range between roughly $9,000 and $9,500, with a significant amount of selling pressure existing between $9,500 and $10,000.<\/p>\n Historically, November has proven to be a volatile month for Bitcoin, which could mean that the crypto<\/a> will incur some significant movements in the near-term.<\/p>\n Big Chonis, a popular cryptocurrency analyst on Twitter, spoke about the tendency for November to be a volatile month, explaining that BTC has either traded at $6,000 or $3,000 in November for the past two years.<\/p>\n \u201c$BTC – November tends to be a volatile month of #bitcoin with a range the last two years of 6K and $3K respectively,\u201d he explained while pointing to the chart seen below.<\/p><\/blockquote>\n $BTC<\/a> – November tends to be a volatile month of #bitcoin<\/a> with a range the last two years of 6K and $3K respectively…\ud83e\udd14 pic.twitter.com\/XxtgmnvZoi<\/a><\/p>\n — BIG Chonis (@BigChonis) November 2, 2019<\/a><\/p><\/blockquote>\n\n