Despite rising 17% in November, BTC/USD 52-week return now officially negative
November has been Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's (BTC/USD) best month since the May rally, to date gaining 17%, with total gains of as much as 42% as of 3 days ago.
Yet 2014 has finally caught up with bitcoin, whose 12-month return is now officially negative. BTC/USD is currently trading at $380 on BTC-e. On November 16, 2013, BTC was trading near $400 in the midst of a 2-month rally seeing it skyrocket to near $1100.
Though BTC has traded lower than today's levels at several points throughout 2014, it was still higher at those points than 52 weeks earlier, when prices could have been no higher than $260- a peak reached in April 2013. The lowest point in 2014 was $285 in earlier October.
Things get interesting when you look at October and November- the two months last year that saw BTC rise by 1000%, from around $100 to $1100. After giving up most of its value earlier in the year, it was inevitable that BTC's 12-month return will soon turn negative in any event other than another supercharged multi-fold rally.
BTC was actually set to reach this milestone on November 11, when its price one year earlier was $328 and rising. A string of successive rises delayed the inevitable. Had BTC preserved its $450 price peak reached last Thursday, the inevitable would have happened tomorrow. One year earlier, BTC had continued to rise from $418 to $480. Two days later, it spiked as high as $820 and plunged as low as $380, after which it resumed its ascent.
November has been Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's (BTC/USD) best month since the May rally, to date gaining 17%, with total gains of as much as 42% as of 3 days ago.
Yet 2014 has finally caught up with bitcoin, whose 12-month return is now officially negative. BTC/USD is currently trading at $380 on BTC-e. On November 16, 2013, BTC was trading near $400 in the midst of a 2-month rally seeing it skyrocket to near $1100.
Though BTC has traded lower than today's levels at several points throughout 2014, it was still higher at those points than 52 weeks earlier, when prices could have been no higher than $260- a peak reached in April 2013. The lowest point in 2014 was $285 in earlier October.
Things get interesting when you look at October and November- the two months last year that saw BTC rise by 1000%, from around $100 to $1100. After giving up most of its value earlier in the year, it was inevitable that BTC's 12-month return will soon turn negative in any event other than another supercharged multi-fold rally.
BTC was actually set to reach this milestone on November 11, when its price one year earlier was $328 and rising. A string of successive rises delayed the inevitable. Had BTC preserved its $450 price peak reached last Thursday, the inevitable would have happened tomorrow. One year earlier, BTC had continued to rise from $418 to $480. Two days later, it spiked as high as $820 and plunged as low as $380, after which it resumed its ascent.