Hello lions and lioness as we approach the end of the year it’s necessary to evaluate the price of BITCOIN, the king in the crypto market.
This article will analyze the performance of BITCOIN’s price in October and November, 2022 under the following considerations.
Clustered Bar Mean Showing maximum and mean price of BTC by month.
Line graph of BITCOIN’s Price in October Verses November.
Maximum and Minimum price of BITCOIN
Boxplot Showing BITCOIN’s price
Conclusion
Clustered Bar Mean Showing maximum and mean price of BTC by month
Below is a bar chart showing the mean price of BITCOIN and maximum price against months.
From the chart, the blue bar represents the price of BITCOIN and the red bar represents the mean or average price of BITCOIN.
In the month of October the average price of BITCOIN was higher than that of November. It can be seen in the month of November, there was a 9.84% decrease in the mean price for November.
It is also visible that the highest price of BITCOIN in November was a little bit higher than that of October. This simply indicates BITCOIN attained its highest price also in the month of November.
Line graph of BITCOIN’s Price in October Verses November
In October, 2022
The line there was no significance in volatility for the price of BITCOIN because the price ranges where from $18000 - $20000.
However significance in volatility was discovered in the month of November, That was when the price of BITCOIN experienced a bear market.
Some still believe BITCOIN may attains its maximum height of $72,000 again but to my own knowledge, if there is a wide adoption of BITCOIN holders in the world, its price may attain more than its All-time high.
In November, 2022
The price of BITCOIN experienced volatility its highest price in the early week of November which was above $20,000 on November 4 – November 7, 2022.
Since then the price of BITCOIN fell low closer to the $15,000 range.
However BITCOIN investors are worried about this drop in price, from an analyst point of view like I said earlier, we only have the hope of seeing BITCOIN pump to its maximum price when there is regulation and adoption of the asset.
This calls for a long term trading for people to accumulate more BITCOINs for the future. If web 3 is a base where smart contract BITCOIN is been hosted then crypto currency is the future.
Maximum and Minimum price of BITCOIN
The maximum and minimum price of BITCOIN from the month of October – November, 2022 is been presented in the table below, it can be seen that the price has a maximum value of $21,417.69 and a minimum price of $15,712.44.
More detailed view of the maximum and minimum price could be figured in the boxplot as seen below.
Boxplot Showing BITCOIN’s price
Below is a boxplot showing the range in price of BITCOIN for October and November, 2022.
The price starts from the peak of the box to the lowest point in terms of range.
Conclusion
The summary of this article presents the price performance of BITCOIN in the month of October and November, 2022. The price of BITCOIN significantly dropped in the month of November, 2022. Other details presented in this article were boxplot, maximum and minimum table.
Proof of work
The following are the basics which led to the result of the analysis.
