Bitcoin’s November average gains based on ‘skewed’ numbers: Analysts
Bitcoin has gained on average in November, but that figure is “skewed” and market participants shouldn’t always rely on it, a crypto executive says.
Analysts have questioned whether November deserves its reputation as Bitcoin’s historically “strongest month” after the cryptocurrency dropped 10% over the past seven days and briefly sank below $90,000.
“Historical averages suggest strength, but those numbers are skewed and the current backdrop is anything but normal,” James Harris, the CEO of crypto yield provider Tesseract, told Cointelegraph.
Harris said that while the break below the long-term average is noteworthy, it is “not the full picture.”