In October, Bitcoin lived up to its “Uptober” description and closed the month, which started at $27,000, with significant rises. The most important factor that brought Bitcoin’s rise was the markets’ belief that a spot ETF approval would now come.
Last ATH in November
In the last bull season, news of upcoming ETF futures approvals sent Bitcoin soaring, and the largest cryptocurrency followed October’s gains with an ATH in November ($69,000).
So how will Bitcoin perform in November? Of course, it is impossible to know, but the performances of the past years can give investors an idea.
There are also declines but the rises are very sharp
Bitcoin’s November performance is generally bullish. Since 2011, when we look at the November performance every year, it is clear that although there have been declines from time to time, this level of decline has not come close to the rates of increase…
Bitcoin has spent November of the last 2 years in declines. However, in November 2021, the largest cryptocurrency had already ATH and the prolonged rises were about to end. November 2022 was down 16% due to the FTX decline.
However, when we look at the early Bitcoin history, it is seen that November is characterized by increases of up to 450%. For example, from 2013 to 2017, Bitcoin completed every November with significant increases. The 450% rise in 2013 was a historic level.
While the largest cryptocurrency started to rise in late 2020, ahead of the 2021 bull season, it closed November with a 42% rise.
Here are Bitcoin’s November performances from 2011 to today:
- 2011: -3.33%
- 2012: 13%
- 2013: 450%
- 2014: 11.54%
- 2015: 21.45%
- 2016: 6.46%
- 2017: 54.61%
- 2018: -37%
- 2019: -17.48%
- 2020: 42.59%
- 2021: -7.15%
- 2022: -16.24%
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