Bitcoin in November: Historical Trends Highlight Volatility Amid Positive Average Returns

• November has historically been a strong month for Bitcoin, with an average return of +43%.
• Current daily trading volume for Bitcoin is high at $57.44 billion, with a volume-to-market cap ratio of 3.78%, indicating substantial market activity.
• Bitcoin’s price shows significant volatility, with intraday fluctuations peaking near $76.85K throughout the day.

Historically, Bitcoin has demonstrated strong performance in November, with an impressive average return of +43%, making it one of the best months for the cryptocurrency in terms of growth.

Currently, Bitcoin is up by 7% for the month, suggesting it still has room to reach its historical average, although market movements in the coming days will ultimately dictate the outcome. 

An analysis of Bitcoin’s monthly returns from 2013 through 2024 reveals considerable variability, with the returns table showing significant fluctuations for each year. November is particularly volatile, with Bitcoin reaching highs of +449.35% in 2013, contrasted by sharp declines, like -36.57% in 2018. 

Source: Crypto Rover

Bitcoin’s returns in other months present a mix of results, with months like April and June showing both gains and losses over the years, leading to lower overall averages. The patterns in this data suggest that November and December often see stronger returns, while spring and early summer months tend to exhibit more varied outcomes. 

As of today, Bitcoin is trading at $76,712.61, with a minor decline of 0.25% for the day. The cryptocurrency’s market capitalization stands at $1.52 trillion, reflecting its dominant position within the digital asset market. 

Source: CoinMarketCap

Bitcoin’s circulating supply of 19.78 million BTC and a capped total supply of 21 million BTC underscore its limited availability, a factor often cited as contributing to its perceived value. 

The daily trading volume is notable, with $57.44 billion transacted over the past 24 hours, suggesting heightened market activity. The volume-to-market cap ratio, currently at 3.78%, reflects decent liquidity in the market, indicating that Bitcoin trades frequently relative to its market size.

Bitcoin’s intraday price chart for the past 24 hours displays notable volatility, marked by multiple peaks and dips. The cryptocurrency’s price peaked near $76.85K but mostly traded below this level throughout the day, indicating a fluctuating market environment.