Cryptocurrency news charts from years ago show that December is a month when Bitcoin moved – but we are not sure if that is going to happen this year. In fact, the price of the dominant cryptocurrency has moved by 30% on average every December.
This December 2019, Bitcoin has made a reputation as a volatile asset (as shown from its past price action). December was in particular a month where the cryptocurrency has seen a notable chunk of the volatility with its price moving by more than 30% since 2015.
As this year nears its end, Bitcoin looks back on a good year. The cryptocurrency is up by over 100% from the yearly lows in February but is still not in a bullish position. Even though Bitcoin moved by a lot over the past years, the narrative is not the same now.
By the end of June, we could see that BTC was truly shining and at a price of $13,500. This is something to remember – but it managed to fall soon and hit lows of around $6,500. At press time, the Bitcoin price news show that the momentum is surrounding the $7,700 region.
What’s interesting is that BTC is still very close to its bottom. Cryptocurrency space participants often look for different narratives to make sense of the new price moves for cryptocurrencies – as well as make predictions on future price action based on historical trends.
One of the narratives suggests that despite the fact that Bitcoin moved significantly every December, this may be different. Historical data indeed shows this to be a repetitive case – especially over the past 4 years.
So, the big question is…
Knowing that Bitcoin moved every December – will this month be the same?
December is starting tomorrow and as the month approaches, we can pull data from previous years and confidently say that:
- in December 2015, Bitcoin moved by 34%
- in December 2016, Bitcoin surged by 35%
- in December 2017, Bitcoin increased by 109%
- in December 2018, Bitcoin saw both a 35% decline and a subsequent 35% rally
If the trend is colliding, we can see Bitcoin at new highs. However, as the last month of the year, we can see that there is some notable activity during this month. A price move of more than 30% is significant, regardless of the asset.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post