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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.
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.
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…
Click Here to Read the Full Original Article at Bitcoin News…
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