Bitcoin Moves 30% in December Since 2015 — Will 2019 Be Different?
Cointelegraph By Benjamin Pirus's original article for cointelegraph.com reduced by 59%
Starting with data four years ago, December 2015 saw Bitcoin shoot up more than 34% in the month of December. The following several days hosted positive price action, leading to Bitcoin's December 2015 high of $469, $119 higher than its Dec. 2 low.
Unlike in 2015 Bitcoin held a very slight upward trend for the first half of December 2016, posting small daily candles filled with very little price activity. Similar to 2015, Bitcoin hit its December 2016 low at the beginning of the month, dropping to a price of $743. It was not until the second half of the month that BTC ramped up its volatility,.
Then Bitcoin reached its all-time high near $19,700 on Dec. 17, 2017, right when the CME launched its own cash-settled Bitcoin futures trading product. "While it is easy to create narratives for Bitcoin, I am of the opinion that there is no 'seasonality' to Bitcoin when it comes to the time of the year.
Although we have seen significant upward moves before, we've also seen significant downside moves as well." Regardless of the rationale, December has hosted significant price movements each year since 2015.
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CN [too long; didn’t read]
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