Bitcoin price LATEST: Crypto confirms THREE MONTH losing streak

Bitcoin is valued at $6320.51 (£4,877) at 3:45pm today (November 1) according to CoinDesk.com.

There are however there is some cause for optimism this month despite the three-month fall

The cryptocurrency closed yesterday (October 31) down 4.32 percent from the October 1 opening price of $6,606 (£5,097) according to CoinDesk.com.

Prices had fallen 9.22 percent and 5.8 percent over August and September respectively.

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The past three months have seen the cryptocurrency’s worst losing streak since the beginning of 2015.

The saw the flagship cryptocurrency’s prices drop 4 percent, 2.8 percent and 2.7 percent from March to May.

Its price then averaged approximately $250.

There is cause for optimism as the recent 4 percent drop is the lowest in three months.

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Bitcoin price NovemberBitcoin price: There are causes for optimism for the cryptocurrency (Image: Getty)

Bitcoin priceBitcoin price: Its value fell 9.22 percent and 5.8 percent over August and September (Image: Getty)

Seasonality analysis has led some to believe they are witnessing an annual pattern suggesting BTC will break its three-month losing streak this month.

Bitcoin always reports gains in November, with the exception of 2011, when it dropped 8.6 percent.

This includes Bitcoin’s greatest monthly performance, which saw a 467 percent price rise in November 2013.

BTC has

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