Bitcoin Ends November With One Of The Worst Monthly Declines In 7 Years

What a November, right?

This is probably what every trader, analyst and crypto evangelist is thinking after the steep fall of the most dominant cryptocurrency Bitcoin – as reported over the past week on our DC Forecasts Bitcoin news site.

We can safely say that Bitcoin just ended one of its worst-performing months – and the worst performing month in seven years in terms of the month-to-month price declines. Beginning the slide from $6,341, Bitcoin managed to reach a price of $3,964 in only a couple of days – recording a near $2,400 drop in the price and a loss of more than 37% on a monthly basis.

This, according to statistics, is the worst on record price movement since August 2011 when the price of Bitcoin fell from $8 to $4.80 to print a 40% decrease for the month. Since it is the largest cryptocurrency in terms of market capitalization and now comprises about 53.5% of the total market, Bitcoin is followed by every other token and altcoin when it comes to its price performance.

As a result of that, the entire market crashed and suffered substantial losses in November, with just one of the world’s largest 25 cryptocurrencies being able to post a monthly gain. We are talking about Bitcoin SV (BCHSV) which is a fork off the original Bitcoin Cash (BCH) blockchain.

The total cryptocurrency market cap also took a beating this November. At the beginning of the month, it had a valuation of $203 billion. Today, it stands at more than $130 billion, recording a 35% loss.