Bitcoin (BTC) broke another price resistance on the first day of December, trading as high as $38,839 by press time. The leading cryptocurrency might end 2023 in the ‘green’ if it continues an 8-year pattern observed since 2015.
Interestingly, Bitcoin had a negative Q3 in 2023, with 11.54% accumulated losses. On the other hand, the Q4 has already carved two positive months with a 28.52% October, followed by an 8.81% green November.
As first observed by Zack Voell and reported on X (formerly Twitter), December price action has mirrored November’s since 2015. This means that for every ‘red’ November, there was a negative December in the same year, the opposite also being true.
Bitcoin monthly returns over the years. Source: CoinGlass
With four positive years and four negative years so far, Bitcoin investors now wonder if 2023’s December will mirror November’s price action for the fifth ‘green’ year following this pattern.
For that to happen, BTC must close December above $37,731 — which was its monthly opening price.
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