Bitcoin Dominates Markets In November

Performance And Risk Adjusted Returns

Bitcoin crushed it in November. Excellent absolute performance. Excellent relative performance. And it managed to do that without getting into the more volatile exuberant bull market regime.

What's behind this performance and is it likely to continue?

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Bitcoin Dominates Markets In November

The Takeaway

Bitcoin dominates the investment landscape in November 2024, standing out in both absolute returns and risk-adjusted metrics.

The macro environment remains favourable with loosening financial conditions despite high interest rates, mirroring conditions from peak QE in 2021.

Looking ahead, Bitcoin shows signs of transitioning from mild bullish to exuberant bull market phase, with 2025 price projections ranging from $130k to $250k, though new ETF investors may create different dynamics than previous cycles.

Bitcoin Is A Double Outlier