Bitcoin price saw a breakout above the $18,000 mark in the past few hours on certain exchanges. The price is well above the $17,500 level, which has been established as the upper resistance for the past few weeks. Can Bitcoin price explode in the next few days? Will December be a green month for cryptos?
How did Bitcoin price move in the last few weeks?
The Bitcoin price has seen more of a stabilization and a sideways movement in the last few weeks. Previously, the price rose above the $21,000 mark at the end of October, which also triggered an altcoin rally. But then the infamous crypto exchange FTX crashed, triggering a bearish market.
The Bitcoin price fell below the $16,000 mark in early November. This was the low for the current bear market. Bitcoin has been able to stabilize again in recent weeks. Especially in the last 1 to 2 weeks, the Bitcoin price has repeatedly tried to break through the $17,000 mark.
Will Bitcoin Crash again to $17,000?
In the last few hours, the Bitcoin price has risen from $17,000 to over $17,800. This rise could mean that the resistance will be broken soon. This could mean that the BTC price will rise back to $20,000 in the next few days and weeks. At this mark, Bitcoin could then meet new resistance again.
Especially at Christmas and the turn of the year, interest in cryptocurrencies usually increases. While December is not generally considered a bullish month, the last 1-2 weeks of the year is considered a more bullish time. It is therefore to be expected that we will see the $20,000 for Bitcoin again in 2022.
Will December be GREEN for Cryptos?
For the past few weeks, bitcoin has been at the lower end of bear market prices. A further drop in the price below $ 15,000 is still possible. But the start of a rally at the turn of the year 2022/2023 seems more likely, because the coming year would be the second year of the bear market. This is generally considered to be much more bullish.
We saw a very similar development at the beginning of 2019 in the last Bitcoin cycle. The year 2022 was very similar to the year 2022. If 2023 reflects 2019 again, then the Bitcoin price could rise sharply in the coming months. In 2019, the Bitcoin price rose from $3,500 at the beginning of the year to $10,500 in the summer of 2019. At the turn of the year we could already see the start of this rally.
Should you Buy Bitcoin TODAY?
Basically, there is never really an “ideal time” to buy Bitcoin. Basically, we recommend a regular investment per cost dollar average if you believe in the success of bitcoin. A failure is always possible, but in principle, Bitcoin should rather increase in the next few months.
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