Bitcoin (BTC) experienced a major rise after Donald Trump won the election, approaching the $100,000 mark, but then experienced a correction.
Although the Bitcoin price has been volatile in recent days due to these corrections, it closed November with a 37% increase.
In addition, despite these corrections, the market expectation of $100,000 continues, while crypto analysis platform Matrixport claimed that Bitcoin could reach $110,000.
Matrixport analysts, who used historical monthly returns in this analysis, stated that BTC’s average return in December was 9.6% and that the price has the potential to reach $110,000 in December.
Matrixport wrote in its daily analysis that Bitcoin has historically seen six Decembers of positive returns and four Decembers of negative returns.
If this trend continues, BTC could reach $110,000 by the end of the year, according to Matrixport.
Analysts finally stated that the fourth quarter was the most robust period for Bitcoin and the cryptocurrency market in general, adding that the highly anticipated altcoin season could begin during this period.
“Bitcoin’s December performance has historically been somewhat mixed, with 6 positive months and 4 negative months reflecting a 60% probability of gains.
Despite this, the average December return comes in at a solid +9.6%.
If this trend continues, Bitcoin could close the year around $110,000.
Seasonal patterns have strongly shown that the fourth quarter typically delivers the strongest gains, and it is not surprising that the much-anticipated altcoin season has begun during this period.”
*This is not investment advice.
