The price of bitcoin is down more than 33% from the crypto asset’s all-time high captured about a month ago on November 10. A while back, people expected the price of bitcoin to be extremely bullish during the months of November and December, and many expected a $100K bitcoin price by the year’s end. In the past 13 years bitcoin prices have been more bearish during the final two months.
The End of 2021’s Bearish Market Sentiment Is a Common Occurrence, Looking at Previous Bitcoin Years
BTC has experienced price gains of over 20% on a handful occasions. This year has not been so bullish and people don’t realize that for most of bitcoin’s life, these months have been bearish a majority of the time. For instance, after bitcoin started seeing real-world value and a USD exchange rate in September through November 2010, after November 10, just like this year, BTC’s price slid from a high of $0.35 per unit to $0.17 by December 10, 2010. That’s a 51.42% loss in bitcoin’s fiat value over 30 days over 11 years ago.
In 2011, BTC had a decent bull run jumping from $2 per unit in mid-November that year to $6 by the year’s end, or a 200% increase in USD value. BTC (bitcoin) fluctuated between $10 to $13.50 in the month of November and December 2012. By August 2013, the bitcoin price was already at $13.50 and has remained flat until January 2013. In 2013 during the months of November and December, BTC’s price was once again bullish. In mid-December 2013, BTC’s price came awfully close to $1,200 per coin.
BTC lost $471 to $370 per coin between September and December 2014. BTC was just over $300 by the middle of December 2014, which were both bearish months. During that time period in 2014, the price of BTC fell 33.12%. BTC’s price in 2015 fell by 33.12% over the same period. In 2016, it was bearish for the first two months, and bullish in December and November 2016. BTC was at a high point in 2017, with the unit price coming very close to $20K.
The following year, during the first week of November 2018, BTC’s price was bearish and valued at $6,376 per unit. The price of Bitcoin was at $4,139 by the end of the first week in December 2018. It’s safe to say that those two months were bearish and by the year’s end BTC was trading for $3,865 per unit. BTC trades for around $9,223 per BTC, and it traded at $9.424 per coin as of November 4, 2019. BTC began trading for $8.639.18 within ten days and was now exchanging for $7.324 per unit on December 23rd. In terms of price movements, the last two months were bearish.
Following 2020’s Bullish Rise in November and December, Bitcoin’s Price Still 90% Higher Than Last Year
The end of 2020 was decent for bitcoin (BTC) prices and by October 13, 2020, bitcoin’s value was $11,425 per coin. The price of bitcoin (BTC) was at $12,931 ten days later. By the end 2020 on December 23rd, BTC had traded for $23,241 per unit. It is clear that December 2020 and November 2020 were bullish months for bitcoin (BTC). We all know the story of 2021 and the highs recorded in bitcoin this year.
Despite BTC being 33% below the crypto asset’s all-time high of $69K per unit, it is still 90% above the price it held this time last year. However, bitcoin’s (BTC) price sentiment in November and December 2021 has been bearish and in a continuous downtrend. Bitcoin supporters will need to watch and wait to see what the remainder of December 2021 looks like. If it changes miraculously from bearish and bullish, then that’s the end of the story.
If the last two months of the first year of bitcoin (2009, with no real-world prices) are considered bearish, and 2021’s November and December are also deemed bearish, then only 5 out of the 13 years of bitcoin’s existence have seen the November and December time interval as bullish for BTC.
What do you think about bitcoin’s price during the last two months of every year? Would you consider 2021’s November and December bearish? Please comment below on your views.
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