Bitcoin
Bitcoin’s bearish prices at the end of 2021 are not much different than 8 previous year-end cycles
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. However, during the last 13 years, more so than not, bitcoin prices are typically bearish in the last two months of the year.
The End of 2021’s Bearish Market Sentiment Is a Common Occurrence, Looking at Previous Bitcoin Years
There have been a few occasions when BTC had a monumental November and December run in terms of price gains. People don’t realize the fact that bitcoin’s price has been more bearish than usual for most of its life. 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. In 2012, bitcoin (BTC) meandered between $10 and $13. 50 during the months of November and December. The price had already tapped $13. 50 per coin in August and remained lackluster 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.
The months of November and December 2014 were bearish as BTC slipped from $471 per coin in mid-September to just above $300 per coin by mid-December 2014. The price of BTC lost 33. 12% during that period of time in 2014. The price of BTC in 2015 was again bearish during the two months and in 2016 the price was bullish in November and December. 2017 was a bullish time for BTC during those two months, as the price came very close to $20K per unit.
The following year, during the first week of November 2018, BTC‘s price was bearish and valued at $6,376 per unit. By the first week of December 2018, the price was $4,139 per BTC. 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. In 2019, around October, BTC was swapping for $9,223 per BTC and on November 4, 2019, it was trading for $9,424 per coin. Ten days later BTC was swapping for $8,639. 18 and by December 23, 2019, bitcoin was exchanging hands for $7,324 per unit. The last two months of 2019 were definitely bearish in terms of price movement.
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. Ten days later the price was $12,931 and by the end of 2020 on December 23, BTC was swapping hands for $23,241 per unit. The data clearly shows that November and December 2020 were considered a bullish two months for bitcoin (BTC). Of course, we all know what happened in 2021, and the new bitcoin price highs that were recorded 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 advocates will have to wait and see how the rest of December 2021 plays out and if it miraculously changes from bearish to bullish by then, or by the first month of 2022.
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.
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2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, All time high, ATH, Bear, Bearish, Bearish Sentiment, Bitcoin (BTC), BTC Prices, Bull, Bullish, Bullish sentiment, December, holidays, Market Prices, Markets, November, Price Highs, Price per unit, Year End
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 to let us know your thoughts on this topic.
Jamie Redman
Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, lookintobitcoin.com,
Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.
Bitcoin
Mint-free OKX Football Cup NFTs for group stage games enter the second round
The second round of group-stage games at the FIFA World Cup 2022 began today. Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends Get a chance to redeem stakes and collect rewards by December 20. FIFA World Cup group stage games enter the second round The second round…
- The second round of group-stage games at the FIFA World Cup 2022 began today.
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Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends
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Get a chance to redeem stakes and collect rewards by December 20.
FIFA World Cup group stage games enter the second round
The second round of the group stage games for the FIFA World Cup in Qatar is underway. There were some big upsets in the first round, with Saudi Arabia winning against Argentina and Germany losing against Japan.
The second round of games started today and the chances for the host nation to qualify for the knockout round are virtually nonexistent.
You have the chance to get OKX Football NFTs for free as the world cup continues. A week ago, crypto exchange OKX announced the launch of its NFT Football Cup.
The OKX Football Cup is part of the crypto exchange’s ‘The OKX Football Festival,’ and it is giving millions of fans around the world the opportunity to earn from a great prize pool.
With this competition, users can mint free NFTs of their preferred teams and use the NFTs to predict matches and stand a chance to win huge prizes.
NFT minting will end after the group stages
The free minting of the NFTs began on November 21st and will end on December 3rd. All users can participate in minting as long as there are group stages. Users must stake 0.01 for each mint. 01 ETH. You can create up to three teams prior to the group stage. With the first round of games producing some shocking results, you can look at the tables so far and partake in the OKX Football Cup.
Each match offers a fixed prize pool of 20,000 USDT. OKX revealed that it adds 10 USDT for every NFT minted, thus, growing the prize pool.
As an NFT owner, you will earn a share of the $20k in USDT if your team wins a match. However, when the teams draw, each side will share $10,000 in USDT
Participants will also have the option of redeeming their full stakes at the completion of the OKX Football Cup.
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Bitcoin
BNB recovers above a critical level. Do we need to wait for another bullish push?
Binance token rose by 17% on Wednesday. The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad. BNB eyes $330 next and is a buy on a retracement As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any…
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Binance token rose by 17% on Wednesday.
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The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad.
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BNB eyes $330 next and is a buy on a retracement
As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any decline below could have given bears complete control. However, it is now not the case as BNB trades at $295, well above the crucial level. It is possible that cryptocurrency may be heading for the next level. What happened then?
The gains in BNB happened after November 23 cryptocurrency news. BNB’s price rose by 17% on the day after the exchange announced the Hooked Protocol (HOOK) token sale on Binance Launchpad. This is the 29th project launching on Binance Launchpad.
According to the announcement, the token sale will occur through a lottery and conclude on December 1. 25 million HOOK coins have been allocated to the launchpad, equivalent to 5% of the total supply.
This latest development comes as Binance continues to reassure users following the collapse of FTX. Binance announced Thursday that it would contribute $1 billion to help protect crypto-related firms. Binance has committed to increasing this amount if necessary and will look to include traditional financial institutions. This fund is the result of a series of measures that are designed to ensure users have sufficient reserves in case of a crypto confidence crisis.
BNB price action as token hits a 2-week high
BNB rose from a low of around $250 to a 2-week high of $303. The $266 has been re-established as the immediate support for the cryptocurrency.
A bullish MACD crossover was initiated after the bullish push. The RSI also moved above its midpoint, which suggests that BNB has attracted a lot more buyers since the breakout. The cryptocurrency is consolidating ahead the next move.
Should you buy BNB now?
Buyers may not be done with BNB, with the area around $330 and $360 as the next target. However, if intending to buy BNB, wait for some correction to snap it lower. This consolidation could lead to a correction before the next bullish leg.
Where to buy BNB
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users have the ability to connect with, learn, copy, or get copied from other users.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is known for its low trading fees and multiple trading options. These include margin trading, peer-to-peer, spot trading, and margin trading.
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Bitcoin
Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack
A major cryptocurrency mining pool was attacked by hackers in early March, according to the pool’s owner. The hackers stole digital assets worth $3 million from the pool and its clients.
Chinese Authorities Open Investigation into Crypto Mining Pool Hack
A subsidiary of Bit Mining, a coin minting company, was the victim in a hacking attack. The company released a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis.
According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen.
The cyberattack has been reported to law enforcement in Shenzhen, China on Dec. 23. With the support of other agencies Bit Mining highlighted that the Chinese authorities are investigating the incident and collecting evidence.
The company will devote considerable efforts to recover the stolen digital assets.
The mining company stated that certain crypto assets of Btc.com were already secured. It pointed out that it had implemented technology to better intercept and block hackers after discovering the breach.
Btc.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected.
Besides the top-10 mining pool, which provides mining services for bitcoin (BTC), ether (ETH), and litecoin (LTC), Bit Mining Limited also owns the mining device manufacturer Bee Computing and operates coin minting facilities.
Since the Chinese government cracked down on the industry in the spring of 2021, Bit Mining has sought to expand its activities in Kazakhstan, which has become a major crypto mining hotspot. In August of this year, the company announced it had secured a $9.3 million registered direct offering from institutional investors.
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What are your thoughts on the hacking attack against the bitcoin mining pool Btc.com? Please leave your thoughts in the comments below.
Lubomir Tassev
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.
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