Tokocrypto: Bitcoin Predictions Will Still Be Bullish in December

JAKARTA - After closing October with an increase of 28.5 percent and projected to end with an increase of 7.18 percent in November, Tokocrypto trader Fyqieh Fachrur sees a high probability that Bitcoin will continue its increase in December.

"Analyzing BTC's seasonality, it becomes clear that if October and November close positively, then December tends to follow suit," explained Fyqieh in his statement, quoted on Thursday, November 30.

This prediction is not without reason, but according to him, this upward trend is not new, but because historical data shows a similar pattern over the last decade.

Fyqieh explained that in 2015, after closing October and November with a positive 33.1 percent and 19.8 percent, BTC surged by 14.1 percent in December.

Then in 2016 and 2017 showed an even more extraordinary increase, with positive returns in December of 29.2 percent and 38.8 percent respectively.

Likewise in 2020, after October and November gains of 28.1 percent and 42.9 percent, BTC surged by 47.8 percent in December. This consistent upward pattern is expected to be repeated in 2023.

“With this historical insight, all eyes are on Bitcoin as the crypto community eagerly awaits whether this trend will continue, making December 2023 an unforgettable month for fans,” he explained.

Fyqieh also explained several driving factors that could strengthen Bitcoin prices in December.

"The main focus of market players will still be around news updates regarding spot Bitcoin ETFs, the Fed's stance, and other macroeconomic situations," concluded Fyqieh.