Research - November - Trading Narratives

"Uptober" has done what "Uptober" did the best. Let's review some trading narratives to prepare November.

Author

Coin Wire
November 07, 2023

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NOVEMBER - TRADING NARRATIVES

$BTC has shown exponentially growth in “Uptober”, reaching 2023 high around the $35K mark. Let’s take a look around the market to prepare the trading narratives in this upcoming November.

Shall $BTC continue its rally or it is the time for altcoin to have fun?

Market in “Uptober”

Let’s review the market in “Uptober”, which is one of the most exciting months in 2023.

The Crypto market capitalization has finally surpassed the $1.25T, the highest recorded in 2023.

The key contributors of the market is $BTC, $SOL, $LINK, and many mid-cap coins along with tons of small cap coins.

Only in October, $BTC showed 26.7% growth. $SOL showed 79.69% growth and $LINK showed 33.71%.

History review

We would have to examine back the price history of $BTC in the previous months to see, whether the market go in the upcoming November.

As you can can see, after a 2 week growth of BTC, BTC would witness 3-4 weeks of consolidation after that. In the time BTC went sideway, other altcoin tends to grow exponentially.

Example:

  • $BTC went sideway in Feb 2023. $CFX made a 8x around that time.

  • $BTC went sideway in Apr, May 2023. $PEPE made a 100x at that time.

  • $BTC went sideway in July, Aug 2023. $CYBER made a 4x at that time.

So, after a huge rally of $BTC in October, I expect to see BTC cool down a little bit in November, and expect some alt coins to sky rocket in this month.

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Trading Narratives

You can have an overview of our newest tool: Alpha Quest. With smart algorithm, Alpha Quest made a quick search around the Internet to see which category got the most search, then made a predict about the upcoming trend in Crypto.

About the market, I do not have a strong opinion as I did in “Uptober” with $FLOKI, but definitely, I would pay attention to new listing coin on Binance, which is: $TIA and $MEME.

Both just listed on Binance, and then quickly got Perpetual Contract right afterward. With our research about Future listing scenarios, I believe these coins are worth to watch.

Which one would grow in November?

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