Cryptocurrency market today, November 26: Rare and unexpected developments appear

(NLDO) - Some analysts predict that Bitcoin could fall to near its short-term low, below $84,500.

On the evening of November 26, the cryptocurrency market had mixed developments. Data from the OKX exchange showed that in the past 24 hours, Bitcoin decreased slightly by 0.05%, trading around $87,000.

Among other major cryptocurrencies, Ethereum and Solana rose nearly 0.7% to $2,920 and $136, respectively. BNB rose more strongly, nearly 2%, surpassing the $860 mark. XRP, on the other hand, fell nearly 3% to around $2.10.

According to Cointelegraph , Bitcoin is still in bearish territory as it prepares to close November, down about 36% from its record high recorded in October.

At around $87,500, Bitcoin is down about 20% from where it was at the start of the month, a rare development not seen since 2018, when it followed a strong run to $20,000.

Bitcoin is trading in the $87,000 region Source: OKX

Some experts say that in the past, whenever Bitcoin ended November in the red, December was often not very positive.

Statistics from 2013 show that November is usually a strong growth period for Bitcoin, while December only records a rather modest increase, averaging around 5%.

However, on a more positive note, one network economics analyst believes Bitcoin may be approaching a near-term price low.

The nearest bottom may have already been formed, or will appear as early as this week, according to an artificial intelligence forecasting tool.

Forecast results show that Bitcoin prices are likely to recover slowly from now until the end of the year. The possibility of this digital currency returning to the $100,000 mark before December 31 is assessed at less than 50%.

Conversely, the probability of the price ending the year higher than current levels is estimated at around 85%, while the possibility of a drop below $84,500 is only around 15%.

However, experts also warn that the cryptocurrency market is very volatile, so any forecast is for reference only for investors.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-26-11-dien-bien-hiem-gap-bat-ngo-xuat-hien-196251126211952171.htm