The last quarter of the year has included the most exciting bitcoin trading of the entire year, but the rest of the year will likely see a lull in trading and a consolidation around current levels. Any fall down below $400 will represent further price softness into the New Year, it seems.
However, since we are now on the cusp of two holidays – both Christmas and the New Year – trading volume will decrease on all markets, including Bitcoin, likely leading to further price uncertainty.
After having fallen nearly 10% to a 1-week low, some have wondered if Bitcoin’s price will settle in the coming days. Over the weekend, Bitcoin fell $25.99. It currently is priced at $435. While trading on Monday saw price decreases, things remain quiet.
Bitcoin could not test $500 during its recent price run up after consolidation. Eventually, the price of Bitcoin fell below $300 before rising again, leading many analysts to believe this would be a sustained price increase.
Unlike historical upwards price action in the Bitcoin market, this price action has not signalled anything big to the upside.
The price movements are familiar for Bitcoiners in recent weeks, with the price climbing steadily before falling once more.
In the last month, Bitcoin prices peaked above $500.
However, heading into the remainder of the week, there can be no doubt that things will mellow out in the Bitcoin market as trading slows to a lull.
Traditionally, the winter holidays has not always meant quiet Bitcoin price actions. For instance, in 2013, Bitcoin saw massive gains headed into the late winter. In 2014, Bitcoin price trended downward into the New Year, after which it leveled off until the recent price increase.
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Last modified: May 21, 2020 10:36 AM UTC