November has without a doubt been the worst month of the year for crypto markets. It marks the ninth month this year that markets have fallen and the sharpest single month decline for around four years. Over $70 billion, or one third of the market, was wiped out in November plunging all altcoins to their lowest levels for well over a year.
Bitcoin had its worst month for seven years dumping around 35% over the thirty day period. Starting out at over $6,500 on November 1st, Bitcoin plummeted to around $4,280 by the end of it. BTC hit a low point for the year just below $3,600 on the 25th marking a record dump of 45% in less than a fortnight.
Ethereum’s pain was even greater as it hit a low of around $100 which it has not been near for 18 months. ETH fell over 50% from monthly high to low and over the course of the whole month the loss was around 42% as it crashed from $200 to $115.
XRP could be considered as one of the survivors of the month from hell as it actually took and held second spot from Ethereum. Compared to its siblings XRP came out relatively well with a loss of only 15% over the course of November. Stellar has also been more resilient that the rest by usurping Bitcoin Cash in fourth spot. XLM lost just under 30% during November which beats Bitcoin and Ethereum.
Bitcoin Cash was not so fortunate getting hammered a whopping 60% during November. BCH started at over $420 and ended close to $170. The big fracas with the hard fork and hash war did this crypto no favors whatsoever.
Most cryptocurrencies were left in pain at their lowest levels for on average 15 months by the end of November. Only a few of the top altcoins managed to limit losses to under 30% and those were XRP, XLM and NEM. The biggest losers in the top ten were Ethereum, Bitcoin Cash, EOS, and Cardano.