Bitcoin had a phenomenal run in 2021 and touched an all-time high of $69,000 on November 10. BTC is now down close to -30% from its ATH and is displaying mixed signals in the indices. Analysts had previously predicted that Bitcoin could breach the $100,000 mark by the end of the year but that doesn’t seem to be the case.
The year 2021 has been both bullish and bearish for Bitcoin and the tug of war has stunted its growth. However, BTC is still on the right track despite it showing bearish sentiments at the end of the year. This isn’t the first time that BTC has dipped dramatically during the last month of the year.
Data shows that Bitcoin dipping in December is a common occurrence and has slumped in price 6-times in different years. For instance, in November 2010, BTC stood tall and strong at $0.35 but in December fell to $0.17. That’s a straight -51% loss in just 30-trading days. However, BTC rose like a phoenix during the start of 2011 and left its baggage of losses behind, and ventured into new territories.
In November 2014, Bitcoin was trading at $471 but in December it plummeted to $300. That’s again a -36.31% loss during the end of the year. The same price dip cycle occurred in 2015 as well where BTC experienced losses in December. Even in November 2018, BTC’s price hovered around the $6,376 mark but in December fell to $4,139.
In November 2019, Bitcoin was trading at $9,424 but a month later in December, the price fell to $7,324. That’s again a straight 22.03% in losses by the end of 2019.
Bitcoin Slumping In Price in December is Normal
In conclusion, Bitcoin trading in the red during the end of the year is a common occurrence. The cycle has repeated 6 times in the years- 2010, 2014, 2015, 2018, 2019, and 2021. However, it has shrugged off its losses and headed straight to the top during the start of the next year.
Considering that BTC is now -30% down from its ATH in 2021, taking an entry position now could be beneficial. The world’s most sought-after coin can be in a completely different position in December 2022 generating enormous profits.
At the time of publishing, Bitcoin was trading at $49,264.43 and is up +1.7% in the 24-hours day trade. It’s up +114.9% since the last 365-trading days and doubled investor’s money who took an entry position in December 2020.