Bitcoin recorded its record monthly gains eight days before the end of November. November is historically the best bull month for Bitcoin returns.

Bitcoin price wrote the biggest monthly candle in crypto history as the world’s first cryptocurrency approached six-figure value for the first time.

In November, Bitcoin price rose more than 40.8% according to Bitstamp data and broke through $99,000, recording an all-time high in the largest monthly candle.

Bitcoin’s monthly high followed Donald Trump’s victory in the 2024 US presidential election on November 5, a period that increased investment interest in risky assets such as Bitcoin.

More analysts expect Bitcoin to surpass the $100,000 level. On November 22, stablecoin flows to crypto exchanges reached a record monthly high of $9.7 billion, providing another optimistic signal that the Bitcoin price will continue to rise through 2025.

The new monthly high marks a significant achievement considering there are eight more days left in November in which the Bitcoin price could appreciate further.

November is historically considered the most bullish month for Bitcoin price movements; According to CoinGlass data, BTC returned more than 46% this month. Investor optimism also shows promising signals in the short term.

According to CoinMarketCap’s Crypto Fear and Greed Index, on November 22, investor sentiment rose to 88, or the “excessive greed” level. This is up from last week’s level of 85. But increased greed among investors could also point to a potential correction.

The last date the index received 80 points was April 9; Bitcoin then experienced an 18% correction in three weeks from above $69,135, falling to a low of around $56,500 on May 1, according to Bitstamp data. The industry is eagerly awaiting Bitcoin’s potential to reach $100,000.

Marcin Kazmierczak, co-founder and COO of RedStone, explained Bitcoin’s use as a hedge against inflation, stating that the six-figure milestone is only a matter of time.

Kazmierczak said:

“Buying Bitcoin makes sense as a hedge against inflation, as BTC is an asset with 0% inflation due to hard supply. “There is still wealth-building potential for late adopters, especially compared to gold, which has a centuries-old history of storing value, whereas Bitcoin, as digital gold, has only a 15-year history.”

However, some notable crypto founders have previously expressed concerns about the increasing amount of greed and leverage in crypto markets.

On November 12, Kris Marszalek, co-founder and CEO of Crypto.com, warned that the crypto market must go through deleveraging before Bitcoin surpasses $100,000.