The crypto market has started to mark a comeback as October has become a turning point for many digital assets. This is expected to continue as we approach November, but there are nevertheless some potential developments that should attract investors’ attention.
BeInCrypto’s analysis of three of the biggest crypto predictions for November shows that the market is ready for an unconventional era.
Bitcoin will set a new all-time high
The price of Bitcoin is about to break through the resistance at $73,800 and form a new all-time high. The crypto king is currently trading at $72,181 after noting 14% growth in October.
One of the biggest driving factors for Bitcoin will be the BTC spot ETF influx and the same was repeated by Juan Pellicer, Senior Researcher at IntoTheBlock in a quote exclusive to BeInCrypto.
“The confluence of catalysts makes this setup particularly compelling: we are seeing steady inflows into Bitcoin ETFs indicating robust institutional demand, while the emerging restructuring ecosystem is creating entirely new demand dynamics for BTC. As these native yield opportunities grow, we see a reduction in exchange supply as holders migrate their BTC to yield-generating protocols, creating a supply squeeze effect that, combined with The technical breakout and macro correlation, suggests that the path of least resistance is higher for Bitcoin through November,” Pellicer said.
Learn more: Bitcoin Halving History: Everything You Need to Know
Meme Coin Mania continues
The meme pieces have was a priority for investors last month. Indeed, many of these joke tokens have outperformed several major altcoins. The coming month will likely continue this trend, as more meme coins appeared last month.
Ryan Lee, chief analyst at Bitget Research, exclusively told BeInCrypto that there are deeper dynamics at play.
“The wealth effect in this sector is unmatched, attracting waves of traders with viral hits like Nerio, Moondeng and recent AI Meme projects such as Goat. This continued appeal keeps memecoins at the forefront, especially as BTC hits new milestones, fueling speculative enthusiasm. Institutional support and the rise of AI discourse are also intensifying this trend,” Lee told BeInCrypto.
Over the past month, the coin industry saw its total market capitalization jump 44%. Meme coins are now collectively worth $62 billion, up from $43 billion, and this will likely continue into November.
Political coins are ready for an explosion
The upcoming elections in the United States of America are among the most anticipated events of the year. Ahead of the elections, which are expected to take place on November 2, crypto policy-associated tokens the memes have already exploded.
Learn more: 11 Cryptos to Add to Your Portfolio Ahead of Altcoin Season
Companies like MAGA, Make America Based Again (MABA), and Trump Meme (MEME) saw increases amounting to 242%, 594%, and 633%, respectively. So there is a good chance that these tokens will explode once the elections start.
However, another crucial point to note with these political coins is that their life will be short term. Once the election hype passes, these tokens will likely be sold by investors or fall flat.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decision. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.