Bitcoin Gained More USD in May Than ‘Gox Month’ November 2013
May was Bitcoin’s best month ever in terms of USD, with growth beating out November 2013 at $960.
Bitcoin’s price action last month delivered the biggest growth in USD ever recorded at approximately $960.
Despite volatility and a slump at the end of the month, May beat out November 2013 to become Bitcoin’s most successful month in dollars. That month, at the height of Mt. Gox’s fame, Bitcoin climbed $860, data reported on Reddit shows.
The timing of price activity was crucial, it could be argued. At the start of the last week in May, Bitcoin suddenly declined to below $2,000, losing more than $1,000 of its peak value in 24 hours.
Since then, a correction has been underway, with one coin worth around $2,300 as the clock ticked over into June.
Four weeks ago, prices stood at around $1,360 according to data from Coinmarketcap.
However, the action pales in comparison to that witnessed by the Ethereum (ETH) camp. A price of around $78 at the start of May ended up as $220 one month later, despite altcoin rising and falling in line with Bitcoin towards the end of the monitoring period.
Today Cointelegraph reported on China’s re-entry into the trading market having a significant impact on Bitcoin volumes as well as prices, outstripping Ethereum, which had just last week delivered higher 24-hour trading volumes.