Bitcoin’s price is down more than 33% from its all-time high in crypto assets, which was hit about a month ago on November 10th. Some time ago, people expected the price of Bitcoin to be extremely bullish during the months of November and December, and many were expecting the Bitcoin price to reach $ 100,000 by the end of the year. However, for the past 13 years, Bitcoin prices have typically been falling in the last two months of the year.
The end of bearish market sentiment in 2021 is a common occurrence when looking at the previous Bitcoin years
There have been a few occasions when BTC had a monumental November and December in terms of price gains. This year wasn’t that bullish and people don’t know that these months have been bearish for most of Bitcoin life. For example, after Bitcoin saw a real value and a USD exchange rate from September to November 2010 after November 10, just like this year, BTCBitcoin’s price slipped from a high of $ 0.35 per unit to $ 0.17 on December 10, 2010. That’s a 51.42% loss of Bitcoin’s fiat value over 30 days 11 years ago.
In 2011, BTC had a decent bull run, up from $ 2 per unit in mid-November this year to $ 6 at year-end, or a 200% increase in USD value. In 2012, Bitcoin (BTC) fluctuated between $ 10 and $ 13.50 in November and December. The price was already at USD 13.50 per coin in August and remained lackluster until January 2013. In 2013 in the months of November and December, BTCThe price of ‘s was again bullish. Mid-December 2013, BTCThe price was very close to $ 1,200 per coin.
The months of November and December 2014 were in decline since BTC from $ 471 per coin slipped in mid-September to just over $ 300 per coin by mid-December 2014. The price of BTC lost 33.12% in this period in 2014. The price of BTC 2015 was bearish again during the two months and in 2016 the price was bullish in November and December. 2017 was a bullish time for BTC during those two months as the price was very close to $ 20,000 per unit.
The following year, in the first week of November 2018, BTCThe rate was in decline and was valued at $ 6,376 per unit. As of the first week of December 2018, the price was $ 4,139 each BTC. It is safe to say that those two months were bearish and the end of the year BTC was trading for $ 3,865 per unit. In 2019, around October, BTC traded for $ 9,223 each BTC and on November 4, 2019 it got for $ 9,424 each. traded coin. Ten days later BTC traded for $ 8,639.18 and through December 23, 2019, Bitcoin traded hands for $ 7,324 per unit. The last two months of 2019 were definitely bearish in terms of price movement.
After the bullish surge in November and December 2020, the price of Bitcoin is still 90% higher than last year
The end of 2020 was decent for Bitcoin (BTC) Prices and on October 13, 2020 the value of Bitcoin was $ 11,425 per coin. Ten days later, the price was $ 12,931 and by the end of 2020, on December 23rd, BTC traded hands for $ 23,241 a unit. The data clearly shows that November and December 2020 were considered a bullish two months for Bitcoin (BTC). Of course, we all know what happened in 2021 and the new Bitcoin price highs that were recorded this year.
In spite of BTC 33% below the crypto-asset’s all-time high of $ 69,000 per unit, it’s still 90% above the price it was holding around that time last year. Bitcoins (BTC), price sentiment declined in November and December 2021 and was in a continuous downward trend. Bitcoin proponents will have to wait and see how the rest of December 2021 plays out and whether it miraculously switches from bearish to bullish by then or by the first month of 2022.
If the last two months of Bitcoin’s first year (2009, excluding real prices) are considered bearish and November and December 2021 are also considered bearish, then only 5 of the 13 years of Bitcoin’s existence saw the November and December time interval as bullish for BTC.
What do you think of the price of Bitcoin over the last two months of each year? Would you describe November and December 2021 as bearish? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, lookintobitcoin.com,
Source: Crypto News Austria