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Despite November’s unexpected dip, Bitcoin is still in an uptrend. The market is bullish. The month of July brought Bitcoin from $30,000 USD to $40,000 USD, August brought it from $40,000 USD to above $50,000 USD, and September gave Bitcoin that much needed rest before October brought it to a new all time high of $67,000 USD. November brought new all time highs at $69,000 USD before dropping $15,000 USD to $54,000 USD for a huge discount to traders and investors. December is here, what can we expect this month?
It is said that “The rear view mirror is always more clearer than the windshield.” No one can predict the future with 100% certainty, but we can learn from the past. Looking back at how the markets have performed during previous months and years can give you an idea of what may be in store for the future.
In the stock market, December has been shown to be a good time to buy stocks. Many investors start to sell stocks during this time, especially those that have declined in value, in order to claim capital losses on their tax returns. Historically, a sell-off comes in December—and with it a potential drop in investment value for new investors. December is the market's third best month and boasts an average price change of +1.3%.
What about the cryptocurrency market? Historically, how has Bitcoin performed during the month of December? Will December be a red month? Or will it be taking Bitcoin to higher highs?
The statistics are looking very good for Bitcoin in December. Looking back at the Bitcoin charts it’s easy to see that Bitcoin tends to see positive returns in the month of December.
As a crypto investor/trader, should you be excited? Is it time to go all in?
Over the last decade, six out of ten December months were green. On average, when Bitcoin saw positive returns, Bitcoin had an increase in +29%! During last years green December Bitcoin saw a monthly return of +47%! When December has been red, the average returns were about -15%.
While December seems to be an exciting and promising month for Bitcoin, traders should still be cautious. The months of April, May, and November have historically been green months. 2021 decided that they all would be red this year.
The Greed and Fear Index has been ranging between “Extreme Fear” and “Fear.”
What can we expect for the first week of December? Will the Bitcoin bulls start off with a green weekly candle? Technical indicators, specifically the RSI and MACD are looking strong on the weekly timeframe. Lower timeframes show that the Bitcoin bulls and bears are struggling... Bitcoin is oversold on the RSI and a breakout to the upside should be happening soon. We’ll have to wait and see…
Zooming out on the charts we can see that history is looking to repeat itself and Bitcoin will continue on its current macro uprising trend. If Bitcoin can achieve the same value as least year, an increase of +47%, then it is possible that we will see an $85,000 Bitcoin by the end of the year.
Anything can happen. Always expect the unexpected. Stick to your plan. Take profits. Set your stop losses. Don’t get greedy.
Thank you for your time! If you found this article interesting or helpful in any way please let me know in the comments below. Feel free to follow me for more articles on how I invest or how I earn other free rewards such as crypto, stocks, or gift cards.
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*Disclaimer- I am not a certified financial planner/advisor, certified financial analyst, economist, CPA, accountant, or lawyer, or anything important for that matter. The contents of this article are for informational, educational, and entertainment purposes only and do not constitute financial, accounting, or legal advice. Always do your own research.*
