Bitcoin trends november 2017

From the lows below $4400, the prices made a slow and steady rise through $5000, challenged the all time highs at $5800 region and then finally broke through this region to post new highs in the $6300 region, all within a matter of one time. A rise of almost $2000 per bitcoin within a period of one month should be considered as truly remarkable. This turnaround helped to gather the trust of several investors and traders and though some of the financial leaders continue to believe that bitcoin is a fraud and a scam, we also have some of the central bank leaders, including powerful ones like the ECB President Draghi saying that bitcoin could provide an interesting alternative to fiat currencies.

This kind of recognition was a huge boost for the bitcoin industry and it was capped off by the news at the end of the month which said that one of the largest exchanges in the world, the CME, would consider introducing futures trading in cryptocurrencies if the conditions were ideal and agreeable to the regulators in the USA. This helped to further boost the price and helped the bulls to get even more aggressive as we head to the new month of November.

Looking ahead to the month of November, we have every reason to believe that the bullishness in the bitcoin prices is likely to continue during this month as well. The bitcoin market has been gathering more and more supporters during the course of the year and the speculators and the traders have been emboldened by the fact that the prices have been able to bounce back, everytime that there has been a correction. This augurs well for the future of the industry as it helps to bring in a sense of calm among the buyers even during periods of large correction.