Thanks to the FTX Collapse, Bitcoin’s Price in November 2022 Looks to Join the 4 Previous Negative Novembers of the Past 11 Years – Market Updates Bitcoin News

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Since bitcoin’s price was first mea­sured in fiat val­ue in 2010, only four out of the 11 Novem­bers in bitcoin’s his­to­ry have seen month­ly declines. Eight of the Novem­bers in bitcoin’s price his­to­ry saw bit­coin climb high­er from the first of the month to the last day of Novem­ber. Fol­low­ing the col­lapse of FTX, an event that took place imme­di­ate­ly after the first week of the month, it looks as though bitcoin’s price in Novem­ber 2022 has a high prob­a­bil­i­ty of end­ing with neg­a­tive per­cent­ages against the U.S. dollar. 

Bitcoin in November

Things were look­ing on the upside, as far as bitcoin’s price is con­cerned, a week before the FTX fias­co, as the lead­ing cryp­to asset was trad­ing above the $20K zone. On the first of Novem­ber, bit­coin (BTC) was chang­ing hands for $20,485 per coin. 

Since Nov. 9, 2022, BTC’s price is close to $4K below that range at $16,664 per unit. Now that there’s less than two weeks left in Novem­ber, in order for BTC’s price to rise above what it lost, it needs to cross the $20,500 range or high­er by Nov. 30, 2022. 

Thanks to the FTX Collapse, Bitcoin's Price in November 2022 Looks to Join the 4 Previous Negative Novembers of the Past 11 Years
At the start of the month, BTC’s price was more than 18% high­er than it is today on Nov. 19, 2022.

That means in order for bitcoin’s Novem­ber price to join the eight pre­vi­ous Novem­ber bulls, between now and the end of Novem­ber, BTC needs to rise 18.7% against the U.S. dol­lar. On Nov. 1, 2010, bit­coin start­ed the month at $0.19 per token and by the end of Novem­ber, it was $0.23.

Novem­ber 2010 was a 21.05% increase, even though BTC’s price only moved four cents high­er than at the begin­ning of the month. 2011 was the first Novem­ber when BTC was down by the end of the month. 

Bit­coin start­ed at $3.25 per unit on Nov. 1, 2011, and by the last day of Novem­ber, it was down 15.38% and trad­ing for $2.75. The fol­low­ing year in 2012, the price per bit­coin in Novem­ber increased by 11.16% against the U.S. dollar.

On Nov. 1, 2012, BTC was $11.20 per coin and on Nov. 30, 2012, the price per bit­coin was $12.45. In Novem­ber 2013, BTC jumped a whop­ping 447% against the green­back that month. At the time, the price rose from $206.18 per BTC to $1,129 a bitcoin.

Thanks to the FTX Collapse, Bitcoin's Price in November 2022 Looks to Join the 4 Previous Negative Novembers of the Past 11 Years
Novem­ber 2013 was bitcoin’s best Novem­ber in terms of gains. The cryp­to asset jumped a whop­ping 447% against the U.S. dol­lar in 2013.

Novem­ber 2014 was also a pos­i­tive month for BTC, but not near­ly as high as the year pri­or. Bit­coin jumped 16% high­er from $325.89 per unit to $378.05 a token. Bitcoin’s USD val­ue in Novem­ber 2015 was almost iden­ti­cal to 2014 and the price increase was as well. 

BTC jumped 14% high­er from $325.43 a token on Nov. 1, 2015, to $371.29 per unit by the month’s end. Both 2016 and 2017 Novem­ber BTC prices were pos­i­tive as well. Dur­ing the first week of Novem­ber 2016, BTC was exchang­ing hands for $711.52, and by the month’s end, it was 2.88% high­er at $732.03.

Novem­ber 2017 was a big­ger jump (25.96%) from $7,407.41 per BTC, to the month-end­ing price of $9,330.55 per BTC. Both 2018 and 2019 Novem­ber BTC prices saw declines yield­ing neg­a­tive percentages. 

Thanks to the FTX Collapse, Bitcoin's Price in November 2022 Looks to Join the 4 Previous Negative Novembers of the Past 11 Years
Over­all, bitcoin’s price in 2022 has been less than spec­tac­u­lar and the price is down 63.77% in val­ue since the first week of Jan­u­ary 2022.

In Novem­ber 2018, bit­coin slipped from $6,376.13 per unit to $4,009.97, los­ing 37% that month. In Novem­ber 2019, BTC’s USD val­ue dropped from $9,235.35 per unit to $7,047.92 per bit­coin, slid­ing 23.68% lower. 

November’s 2020 BTC prices moved upwards from $13,737.11 on Nov. 1, to $18,177.48 by the month’s end. Bitcoin’s price in Novem­ber 2020 moved 32.32% high­er. Bitcoin’s USD val­ue in Novem­ber 2021 saw the price tap BTC’s life­time high against the green­back at $69,044 per unit on Nov. 10, 2021. 

How­ev­er, BTC start­ed the month at $63,326.90 and end­ed Novem­ber at $57,248.46 per BTC, los­ing 9.59% dur­ing the course of the month. From the cur­rent looks of things, it seems like the prob­a­bil­i­ty of Novem­ber 2022 join­ing the past four red months dur­ing BTC’s life­time of record­ed val­ue is much higher. 

18.7% is a pret­ty high climb from here but in the world of cryp­to, it’s not out of the ordi­nary either. Over­all, 2022 has been a low­er year, in gen­er­al, in view of BTC’s val­ue against the dol­lar los­ing 63.77% since the first week of Jan­u­ary 2022.

Tags in this story
$20500 range, 18.7%, 2011, 2012, 2017, 2018, 2019, Bit­coin, Bit­coin Price, BTC Price, BTC Prices, BTC’s life­time high, Nov 10 2022, Novem­ber, Novem­ber 2010, Novem­ber 2013, Novem­ber BTC prices, Novem­ber BTC trad­ing, Novem­ber prices, Per­cent­age Gains, Per­cent­age Loss­es, U.S. dol­lar

What do you think about bitcoin’s price per­for­mance in Novem­ber 2022 com­pared to all the past Novem­ber per­for­mances in bitcoin’s his­to­ry? Let us know what you think about this sub­ject in the com­ments sec­tion below. 

Jamie Redman 

Jamie Red­man is the News Lead at Bitcoin.com News and a finan­cial tech jour­nal­ist liv­ing in Flori­da. Red­man has been an active mem­ber of the cryp­tocur­ren­cy com­mu­ni­ty since 2011. He has a pas­sion for Bit­coin, open-source code, and decen­tral­ized appli­ca­tions. Since Sep­tem­ber 2015, Red­man has writ­ten more than 6,000 arti­cles for Bitcoin.com News about the dis­rup­tive pro­to­cols emerg­ing today.




Image Cred­its: Shut­ter­stock, Pix­abay, Wiki Commons

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