November’s Bitcoin surge could be a preview of December

Bitcoin price performed well in November with a general upward trend. This move could well be a harbinger of what we can expect in December. Crypto researcher Zack Voell said this in a message on X.

🎁 This week: Trade your first €10,000 in crypto completely free

Bitcoin price in November

At the beginning of November, Bitcoin was around $35,500. The price had a mixed start with several rises and falls. In the first week, the value fluctuated between $34,700 and $35,400.

The real action started around November 14th, with a significant increase of around 10%. However, resistance was found at $38,000. This remained a major obstacle for the rest of the month as several breakout attempts were unsuccessful.

Overall, Bitcoin saw a 9% increase in November. In the last 2 months, BTC has been in the green by more than 40%.

What will December bring for BTC?

In recent years, the Bitcoin price in December followed the November movement, as Voell points out in his post. Since Bitcoin’s November closing price was in the green, the question is whether this trend will continue in December.

Historical data suggests that if November ends positively, an uptrend could also occur in December.

“I’ve never noticed that before…

Since 2015, Bitcoin’s price movement in December (up or down) has matched the November price every year.

Is it different this time?”

Since 2015, Bitcoin has shown a consistent pattern where the price direction in November followed that in December. However, this pattern offers no guarantee, but does provide an interesting playing field for speculation among investors and traders.

Read Also:  The ACS Group has been awarded the contract to renovate a hospital in Australia for more than 400 million euros

The question remains whether 2023 will be an exception or whether the Bitcoin price will continue to follow the historical trend.

The news of the possible approval of a first Bitcoin exchange fund is currently playing a big role in crypto-land. The introduction of so-called “spot ETF” exchange funds could bring a lot of new money into the market, according to reports. Positive developments are already evident in other major Bitcoin exchange funds, even a record for the largest futures ETF.

Post views: 0

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here