Bitcoin achieves three consecutive monthly declines, never seen since 2015
While the price of Bitcoin has stabilized around 6,400 $ for several weeks, we observe a rare phenomenon. Indeed, this is the first time in several years that Bitcoin ends three consecutive months down.
At the beginning of November, we are faced with a phenomenon of declines, monthly and consecutive. Bitcoin lost 9.22% from August to September, then 5.8% from September to October, and now 4.32% from October to November.
The last triple monthly decline dates from 2015, when the price of Bitcoin was worth around 250 $. During this last triple decrease, the BTC had a very low volatility. A strong point of comparison with the current situation. Subsequently, we saw a nearly continuous rise until the end of 2017.
Zoom on what happened after the last triple decline of the BTC in 2015
However, despite this quarter of decline, we do not worry there is some optimism in the community. Indeed, these three declines are less and less significant over the months. On top of that, many positive news are making their appearance as the arrival of the BAKKT platform in December.
It should also be noted that the blockchain sector continues more generally to gain popularity in society, particularly through an increase in the number of hires in the sector.
Since 2011, the BTC systematically gains value during the month of November. Indeed, the end of years have often been prolific for Bitcoin and cryptocurrencies. For example, the big rise of the end of last year (2017) but also the increase of 467% in November 2013.
But the question always arises : Will the month of November be positive in terms of valuation for the BTC ? Seasonal patterns seem to support that yes. However, nothing is ever less safe. Bitcoin remains an extremely volatile and unpredictable asset.