Your favorite crypto news blog

Santa Claus Rally: Bitcoin Price On Course To Hit Astronomical Heights In December

Altcoins 2019/12/02 12:01 by Nick James
Santa Claus Rally: Bitcoin Price On Course to Hit Astronomical Heights In December

The year 2019 is drawing to a close, and crypto fans are growing more expectant. The top coin, Bitcoin, has had some price movements over the last few months. It’s notable that back in April, Bitcoin’s surged to lead the market’s re-emergence from a long crypto winter than had affected the prices of numerous cryptocurrencies, with some losing more than 90% of their ATH value.

Various experts have opined that Bitcoin is headed for an imminent bull run. The question is, when is it happening? Some believe that December will be a good month for Bitcoin, and they’ve reason to believe so.

Historical Trends

A simple look at Bitcoin’s market dynamics and price movements in the months of December going back 4 years reveals that the top coin has been spiking every December since 2015. The price increase ranges from 30% upwards.

Perhaps the most notable period was December 2017, when Bitcoin reached its ATH of $20,000. From this assessment, it’s easy to see why a lot of analysts would expect Bitcoin to spike this December – if at all it has to keep up with the already established trend. 

The Santa Claus Rally

And then there’s the cleverly-coined phrase of the “Santa Claus Rally.” 

Over the last few years, Bitcoin has been getting more popular, and the facilitation of various channels to utilize it has boosted its adoption. People can now shop around and pay with Bitcoin.

Granted, the holiday season is a pretty active period for shoppers, meaning that Bitcoin’s transaction volume increases. In effect, the crypto’s value moves up. That could partly explain why the coin spikes in December. 

Other Factors

Besides the mentioned factors, 2019 presents a rather special time for Bitcoin. The crypto’s next network reward halving is expected to happen in May 2020. Historically, Bitcoin starts experiencing some significant price movements about a year or months before the event.

This might explain Bitcoin’s sudden wake that ended the crypto winter in April. Also, as we move closer to 2020, the crypto is likely to get under pressure as FOMO sets in, and that could drive up the price.

The post Santa Claus Rally: Bitcoin Price On Course To Hit Astronomical Heights In December appeared first on ZyCrypto.

0 Like(s)

You should also read...

Altcoins 22/11/19 06:30 by Aayush Jindal
Crypto Market & Bitcoin Bloodbath Not Over Yet: LTC, BNB, BCH, TRX Analysis
The total crypto market cap declined heavily and tested the $200.0B support (yesterday’s target). Bitcoin price is down more than 6% and it is approaching the long awaited $7,400 bearish target. Bi...
Read More
Altcoins 29/11/19 03:50 by Kai Sedgwick
Is Plustoken to Blame for Bitcoin’s Sell-Off?
Armchair theorists love postulating the reasons behind bitcoin’s latest price rise or sell-off. From China FUD to exchange hacks, anything and everything is fair game for blame. Plustoken is the...
Read More
Bitcoin 29/11/19 17:59 by Tony Spilotro
Accurate Trader Calls For $1K Bitcoin and Destruction of Crypto Industry
It’s almost been two full years since the crypto hype bubble, and the leading crypto asset by market cap, Bitcoin is trading at roughly 35% of the price it reached during that peak, while the rest o...
Read More
Bitcoin 30/11/19 17:00 by Jamie Redman
459 Days Until BTC Hits Its Longest Streak Without a New All-Time High
Since bitcoin hit its all-time high (ATH) in December 2017, crypto enthusiasts have wondered if BTC will touch or surpass it again. After the ATH in November 2013 at $1,156 per BTC, it took 1,170 days...
Read More
Crypto 02/12/19 21:35 by Jamie Redman
Despite the Recent Slump, Crypto Prices Improved a Great Deal in 2019
As far as prices are concerned, 2019’s cryptocurrency markets fared much better than the year prior. Currently, the entire market capitalization of all digital assets is hovering just above the ...
Read More