Even though November is officially the last month of the year, one thing is certain: crypto enthusiasts will never forget November 2018: Crypto’s Worst. All records show that November was the worst-performing month Bitcoin has seen in seven years in terms of month-over-month price declines.

The month began with Bitcoin’s average price across several exchanges at $6,341. By the time of writing, the price had dropped to $3,964. This represents a loss of about $2,400 or -37.4 percent for the month. It is clear why November stands out, especially when compared to August 2011. Back then, Bitcoin fell from about $8 to $4.80, a monthly loss of -40 percent.

Bitcoin makes up 53.5 percent of the total cryptocurrency market. This gives it the crown as the largest cryptocurrency by market capitalization. Because of this, Bitcoin usually leads other cryptocurrencies in price movements. When Bitcoin plunged, many other digital currencies also suffered massive losses. It was so bad that out of the 25 largest cryptocurrencies, only one posted a profit.

Bitcoin SV: Only Profitable Coin

Bitcoin SV, the only profitable cryptocurrency last month, had only existed for 22 days. It was created from the Bitcoin Cash hard fork in November.

Most cryptocurrencies recorded losses in double digits. Tezos (XTZ) was hit hardest, losing 61.5 percent. Bitcoin Cash (BCH) was close behind, with a loss just 3 percent less than Tezos.

The average loss for all 25 top digital currencies by market capitalization was -37 percent. The top 10 cryptocurrencies had an average loss of -30 percent.

At the start of the month, the total market capitalization was $203 billion. Now, it stands at $103 billion—a 35 percent loss.

Since reaching an all-time high of $820 billion in January, the overall crypto market capitalization has dropped by more than $690 billion. This represents an 83 percent loss.

In conclusion

November will undoubtedly go down in history as the worst-performing month in seven years for Bitcoin. The price of the original cryptocurrency suffered a 35 percent crash while wiping off more than $90 billion from the market. November 2018: crypto’s worst perfectly captures the severity of this downturn, which shook investor confidence and underscored the extreme volatility of the crypto market during that period.

To keep up with the highly volatile cryptocurrency market, subscribe to the ICOholder’s newsletter.