Bitcoin holders are analyzing historical patterns that suggest December could bring a late-year price surge for the top cryptocurrency.
According to seasonal data, when Bitcoin sees positive returns in October and November, December also tends to close out trading in the green. Over the past decade, years like 2015, 2016, 2017, and 2020 all saw double-digit gains for Bitcoin in December after uptrends in the preceding months.
This year, BTC notched impressive returns in October, climbing 28.5%. Meanwhile, November is on track to post an approximate 7% gain if momentum continues.
Following past precedents, traders are growing optimistic that history could repeat for a festive holiday rally this December. However, there are exceptions, like in 2013 when BTC fell 33% to close out the year.
Ultimately short-term price action depends on shifting crypto market dynamics. But historical data hints at better than even odds that buyers could return in December to test 2022 highs. A Santa rally would cap off an otherwise turbulent year for Bitcoin on a bullish high note.
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