Bitcoin lovers should watch these 4 things as November starts

After witnessing its first-ever monthly candle getting closed above $60,000, Bitcoin is sitting on a roller-coaster as the first week of the new month arrives.

As many market experts and traders are saying that BTC can see a surge like never before, we can see a “Moonvember” after a pretty decent “Uptober.”

Here are the five things which can play a huge role in shaping the price action of the king coin:

“Uptober” becomes the most gaining month since 2020 for Bitcoin

Bitcoin investors are in a mood for celebrations with highly speculated arrivals of the bulls and the highest monthly close ever above $61,000.

The Sunday’s close brought a bit of stress when the coin fell to $59,500, but hours later, it surged back to $62,000.

Plan B, the famous Bitcoin trader, made a prediction earlier this year where he said that October would close the candle above $63,000 and November will take the coin above $98,000.

The fans have seen the predictions pretty satisfactory and are aiming the next target at $100,000.

Difficulty sees eighth consecutive positive motion after 2018

The mining difficulty this week will see its eighth continuous increase, which has never happened since 2018. As TheCoinRise reported, the miners have also recovered from the Chinese plans forcing them to halt their work in May.

Exchanges’ Bitcoin Reserves going down 

The exchange reserves of BTC are unattractive, and the data by Glassdoor supports it. It says that the exchange BTC reserves are currently at their lowest since 2018.

Since 2018, the price has changed significantly, but the balances are still diminishing. In April 2020, when BTC was standing at its peak, exchanges were controlling more than 3.1 million BTC, and currently, they control 2.4 million BTC only.

HODLers keep HODLing

September offered the golden opportunity to “buy the dip,” and October gave the investing entities a broad smile.

But are you holding the coin? A report by exchange giant Kraken says that the recent upward movement and new attainment of All-time High are not able to tempt holders to sell their Bitcoin.