Sunday December 02, 2018

Bitcoin Price Ends November with Worst Monthly Decline in 7 Years

The world’s largest cryptocurrency has managed to score a new record, although it’s nothing to brag about: CoinDesk looked at Bitcoin’s performance last month and found a -37.4 percent drop (near $2,400), which is "its worst on record since August 2011, when it fell from roughly $8 to $4.80 to print a -40 percent monthly loss." BTC is currently valued at just over $4K.

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At the beginning of November, the total market capitalization recorded a value of $203 billion, yet today that figure records $130 billion, a 35 percent loss. The total capitalization of the cryptocurrency market has now lost over $690 billion and 83 percent of its value since reaching its all-time high north of $820 billion this past January, according to CoinMarketCap.