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21.11 - 12:49
Bitcoin ‘Moonvember’ begins as data shows November is best month for S&P 500
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Bitcoin (BTC) bulls are betting on a solid month for BTC price action, as November traditionally sees strong gains for United States stocks.
Data shows that November has been the best performing month for the S&P 500 since 1985.
With “Uptober” already the biggest month in terms of gains for Bitcoin in 2021, odds are stocks could act as a catalyst for further upside in “Moonvember.”
Median S&P 500 progress in November over the past 35 years has been just over 2% — making it the only month to achieve those median returns.
At the same time, over 70% of years have seen positive returns, and Bitcoin’s history is similar.
In November, BTC/USD has ended up higher than when it started with the exception of just two years: 2018 (-36.5%) and 2019
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