Bitcoin’s bearish price at the end of 2021 is not much different from the previous 8 year-end cycles – market and price Bitcoin News

[ad_1]

The price of Bitcoin has fallen by more than 33% from the record high set on November 10 a month ago. Many people expect the price of Bitcoin to reach $100,000 by the end of the year. However, in the past 13 years, Bitcoin prices have generally been bearish in the last two months of the year.

Looking back at the past Bitcoin years, the bearish market sentiment at the end of 2021 is a common phenomenon

A few times Bitcoin The price increase in November and December was huge. This year has not been so optimistic, people did not realize that for most of Bitcoin, most of these months have been bearish. For example, after Bitcoin began to see real-world value and the USD exchange rate from September to November 2010, after November 10, just like this year, BitcoinAs of December 10, 2010, the price of Bitcoin had fallen from a high of US$0.35 per unit to US$0.17. Compared with 11 years ago, the legal value of Bitcoin has fallen by 51.42% in 30 days.

Bitcoin's bearish price at the end of 2021 is not much different from the previous 8 year-end cycles
So far, for most of November and December, Bitcoin (Bitcoin) The price is bearish.However, there have been five times Bitcoin In the past two months, including last year, prices have been bullish.

in 2011, Bitcoin There was a good bull market, which jumped from US$2 per unit in mid-November of that year to US$6 at the end of the year, that is, the value of the US dollar increased by 200%. In 2012, Bitcoin (Bitcoin) Hovered between $10 and $13.50 between November and December. The price reached US$13.50 per piece in August and remained sluggish until January 2013. During November and December 2013, BitcoinThe price is bullish again. In mid-December 2013, BitcoinThe price of each coin is very close to $1,200.

November and December 2014 are bearish because Bitcoin The price fell from US$471 per coin in mid-September to just over US$300 per coin in mid-December 2014. Bitcoin In the same period of 2014, it fell by 33.12%. Bitcoin It was bearish again within two months of 2015, and the price in 2016 was bullish in November and December. 2017 is a bullish period Bitcoin In these two months, because the price is very close to US$20,000 per unit.

The second year, in the first week of November 2018, BitcoinThe price of is bearish, with a value of $6,376 per unit.As of the first week of December 2018, the price is $4,139 per serving Bitcoin. It’s safe to say that those two months are bearish, until the end of the year Bitcoin The transaction price per unit is US$3,865. Around October 2019, Bitcoin Exchange at a price of US$9,223 per person Bitcoin On November 4, 2019, the transaction price of each coin was 9,424 USD.Ten days later Bitcoin At a price of 8,639.18 US dollars, as of December 23, 2019, Bitcoin was exchanged at a price of 7,324 US dollars per unit. In terms of price movements, the last two months of 2019 are definitely bearish.

Following the bull market increase in November and December 2020, the price of Bitcoin is still 90% higher than last year

The end of 2020 is good for Bitcoin (Bitcoin) Price, as of October 13, 2020, the value of Bitcoin is $11,425 per coin. Ten days later, the price is $12,931. By the end of 2020, December 23, Bitcoin Change hands at a price of US$23,241 per unit. The data clearly shows that November and December 2020 are considered to be two bullish months for Bitcoin (Bitcoin). Of course, we all know what happened in 2021 and the new high Bitcoin price set this year.

Bitcoin's bearish price at the end of 2021 is not much different from the previous 8 year-end cycles
Between November and December-if including 2009 and 2021- BitcoinThere will be 8 year-end price drops in the price, which is considered bearish.

although Bitcoin This is 33% lower than the historical high of $69,000 per unit of encrypted assets, but still 90% higher than the price of the same period last year. However, Bitcoin’s (Bitcoin) The price sentiment in November and December 2021 has been bearish and in a continuing downward trend. Bitcoin advocates will have to wait to see what happens in the remainder of December 2021 and whether it will miraculously change from bearish to bullish at that time or in the first month of 2022.

If the last two months of Bitcoin’s first year (2009, no actual price) are considered bearish, and November and December of 2021 are also considered bearish, then in the 13 years of Bitcoin’s existence, only 5 years saw a bullish interval between November and December Bitcoin.

Tags in this story

Year 2009, year 2010, year 2011, 2012, year 2013, Year 2014, 2015, 2016, 2017, 2018, 2019 year, 2020 year, 2021, Highest in history, ATH, Bear, Bearish, Bearish sentiment, Bitcoin (BTC), Bitcoin price, bull, Bullish, Bullish sentiment, December, Holiday, market price, market, November, High price, Price per unit, End of the year

What do you think of the price of Bitcoin in the last two months of each year? Do you think November and December 2021 will be bearish? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles about destructive protocols emerging today for Bitcoin.com News.




Image Source: Shutterstock, Pixabay, Wiki Commons, lookintobitcoin.com,

Disclaimer: This article is for reference only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. The company or the author is not directly or indirectly responsible for any damage or loss caused or claimed to be caused by using or relying on any content, goods or services mentioned in this article.



[ad_2]

Source link

Recommended For You

About the Author: AZ