Bitcoin (BTC) chalked up its longest monthly losing streak in seven years in December.

The leading cryptocurrency by market value closed at $3,689 on Dec. 31, representing a 13 percent drop from the monthly opening price of $4,241. That was the fifth straight monthly loss – its worst period since November 2011 – according to CoinDesk’s Bitcoin Price Index (BPI).

Back then, BTC was trading below $20 and had depreciated by 81 percent in five months to November 2011. Notably, the tide had turned in favor of the bulls in the following months. BTC gained 59 percent in December 2011 and traded at record highs above $900 in November 2013.

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