and led to more crypto bear market, this further downtrend sink bitcoin below $16000 to $15400 in November, from $21000.
I disagree with calling what happened a "down
trend" or a "bear market". If you look at the charts this was a quick crash that took less than 48 hours. And from November 8-9 till today price is stable so there is no "down trend" going on just a sudden crash which unlike 2017 was a small crash (about 20%) since we used to see 30 to 40% crashes whenever such bad news came out.
There are some positive news coming is all I could think now and I do not think there would be further decline.
Let us guess what the price of bitcoin could be in December. Is it going to be bearish or bullish or just boring with little volatility?
There has been lots of positive news this whole year but the problem was the global economy that entered inflation + recession mode ever since February. That could not really be predicted which is why I don't see any logical way anybody could have predicted the 2022 bear market.
In fact if you look at the predictions of those times some people were expecting a bear market for WRONG reasons such as the cycle that had been already broken.
In any case I don't see any change in December either. We may go back above $20k but not a big change in the side ways market can be seen until the global economy reaches a stability or crashes hard enough to push people towards bitcoin.