Will Bitcoin, which has made a good start to December, be able to continue its rise? What Does Historical Data Say for December and…
Bitcoin, the leading cryptocurrency, made a good start to December and rose above $ 38,000 again.
At this point, BTC reached its highest level in 2023, reaching $38,700.
Evaluating the rise of Bitcoin, analysts stated that BTC has overcome an important resistance and stated that overcoming the resistance could lead to new levels being seen.
It was considered that behind this rise was the PCE data, the leading inflation data announced yesterday, reaching 3% and Bloomberg analyst James Seyffart’s statement regarding the approval date of spot Bitcoin ETFs.
So, how did Bitcoin, which had a good start to December, perform in December?
When we look at the data from Coinglass, we see that from 2013 to 2022, Bitcoin closed green, that is, positive, 4 times in December, and red, that is, negative, 6 times.
When looked at in detail, 34% in December 2013; 15% in December 2014; 5% in December 2018; 5% in 2019; It closed down 18% in December 2021 and 3.5% in December 2022.
On the other hand, 13% in December 2015; 30% in December 2016; It closed with an increase of 38% in December 2017 and 46% in December 2020.
According to these data, although it is expected that Bitcoin, which closed most of December negatively, will close December 2023 with a loss, it should not be forgotten that everything can change at any time and BTC may close December positively with a rally.
*This is not investment advice.