The world\u2019s largest cryptocurrency fell by as much as 6.1% at one point.
\nBy 13h20 CAT, it was down 5.2% at $86 461, set for its biggest one-day fall in a month and hovering near last month’s eight-month low of $80 553.<\/p>\n
<\/p>\n
Bitcoin shed more than $18 000 in November, as a record amount of money rushed out of the market, making this its largest dollar loss since May 2021, when a number of cryptocurrencies collapsed.<\/p>\n
<\/p>\n
Given its relatively short lifespan, there is not much in the way of seasonality to guide traders’ expectations for how Bitcoin usually behaves in December.<\/p>\n
<\/p>\n
On average, Bitcoin has tended to rise by around 9.7% in December, ranking it third in terms of performance, with October being the strongest month, with an average gain of 16.6%, and with September being the weakest month, with an average loss of 3.5%.<\/p>\n
<\/p>\n
Of more relevance might be bitcoin’s tight correlation with the stock market at the moment, analysts said.<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":13322,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-16480","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Bitcoin fell below $90 000 on Monday, as a selloff gathered pace following the steepest monthly decline since mid-2021, as renewed risk aversion drove investors out of stocks and digital assets.","published_date":null,"news_description":"","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16480\/revisions"}],"predecessor-version":[{"id":20271,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16480\/revisions\/20271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/13322"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=16480"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=16480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}