November was not a good month for Bitcoin. Its rival coin, ETH, was gaining a lot of momentum. In fact, it saw an increase in its AUM up to 16 percent. ETH was being considered as the next big thing due to this sudden rise in its value. Some even anticipate that it will take over BTC as crypto’s leading coin in the market. However, it still has not surpassed Bitcoin even after BTC fell by almost 10 percent in its assets under management. This says a lot about how big Bitcoin actually is in the crypto market.
Things are looking bright
After a disturbing month for BTC holders, things are beginning to look bright. Bitcoin value has risen above 58 thousand dollars, and it is anticipated that it will go over 60 thousand dollars sometime soon. What’s more, is that the momentum of this coin is improving. So, the chances are that things will be back to normal by the time the festival season gets over. According to some charts and predictions, BTC might even touch the sky-high value of 69 thousand dollars. This is extremely good news for those who are holding on to this coin for dear life. All over Reddit and other social media websites, experts, as well as crypto enthusiasts, are encouraging Bitcoin owners to hold on.
What happens after the holiday season remains to be seen. However, as of today, many Bullish investors are holding to BTC. Quite a few have shifted to ETH, though.