Bitcoin has had 8 end-of-year bear cycles over the past 13 years and 2021 looks no different

Lately, people have been predicting that Bitcoin would be extremely bullish in November and December, and many expected that it would hit $ 100,000 by the end of the year. However, for the past 13 years, the price of Bitcoin has generally fallen in the last two months of the year.

While there were a few epic bull runs in November and December for most of Bitcoin’s life, those months have been largely bearish and this year looks a bit disappointing too.

Since its market valuation began in 2010, Bitcoin has fallen 51.42% from $ 0.35 to $ 0.17 between October 9 and December 10.

In the course of 2011, Bitcoin experienced a significant rally from USD 2 in mid-November to USD 6 at the end of the year, which corresponds to an increase of 200%. In 2012, Bitcoin fluctuated in a range of $ 10 to $ 13.5 in November and December. It hit $ 13.5 in August and had lackluster price movements around the $ 1,200 mark through January 2013.

In 2014, Bitcoin price fell 33.12% from $ 471 in mid-September to just over $ 300 in mid-December, with Bitcoin falling again in the last two months of 2015 and 2016.

The end of 2017 was a period of massive bull market for Bitcoin and the entire market, reaching an all-time high (ATH) near USD 20,000.

In the first week of November 2018, Bitcoin price fell and was valued at $ 6,376 and entered the first week of December at $ 4,139, only to continue seeing steady price declines, which ended the year at $ 3,865. In 2019, Bitcoin continued to decline in the final months of the year as well, $ 9,223 in October, $ 9,424 on November 4th, and just $ 7,324 on December 23rd.

Bitcoin price still 90% higher than 2020

The end of 2020 was pretty decent for Bitcoin, trading at $ 11,425 on October 13 and rising to $ 23,241 at the end of the year. It is clear that these have been great months for Bitcoin.

Bitcoin price promotion for the months of November and December

We see a boom year at the beginning of 2021. While it’s currently 33% below the ATH hit by Bitcoin on November 10, it’s still 90% above the same period last year. However, investor sentiment declined in November and December and is now on a negative trend. Bitcoin proponents will have to wait and see how the rest of December 2021 plays out and whether that magically supports the change in trend from bearish to bullish in the first month of 2022.

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