Black October, encouraging November

For the first nine months of the year the price remained well above $400, aside from the BTC-e flash crash in August and a brief slump in April, likely caused by deposit freezes at Chinese exchanges.

Gradually declining from July onwards, bitcoin reached a low of $319 on the 5th October, by far the worst month of the year in terms of price.

By 14th October the price had rebounded, with the CoinDesk BPI hitting $398. The recovery was short lived, however, and prices tumbled below the $350 mark over the next two weeks.

November started on a low note, with the price hovering in the $320-$325 range for the first few days, before recovering slightly, albeit slowly, on the 9th November.

That morning, the price opened at $344, crossing the $360 mark by the day's close.

Aside from a brief dip yesterday, 11th November, the price has continued climbing, eventually crossing the $400 boundary earlier today.