Bitcoin (BTC) Approaches $18K: A Green December for Crypto Markets?

Bitcoin price gained to explore the $18K mark on some exchanges over the last few hours. The leading crypto wavers well beyond the crucial level of 17.5K, which has served as the upper hurdle within the past couple of weeks. Can we expect more upsides in the upcoming few days? Moreover, will December paint the crypto market green?

BTC Price Over the Past Few Weeks

Bitcoin price has witnessed sideways and stabilized actions within the past few weeks. The crypto ended October with an upside beyond $21K, which rallied the altcoin market. Nevertheless, FTX’s crash triggered bearishness in the broad crypto space.

Early November sessions saw BTC price plunging beneath $16K. That had it hitting the low of the ongoing bear market. Nevertheless, recent weeks saw the world’s largest crypto stabilizing. BTC has repeatedly attempted to overcome the $17K hurdle within the past two weeks.

Will BTC Drop to $17K Again?

Bitcoin climbed from $17K to above $17.8K over the past few hours. Such an uptick might see the bellwether crypto overcoming resistance soon. Such moves can welcome the $20K mark in the coming days & weeks. Meanwhile, BTC can encounter another obstacle at this value territory.

Remember, crypto usually sees increased interest during Christmas and new year. While December isn’t a bullish month for crypto, markets consider the final one to two weeks more optimistic for crypto uptrends. Thus, we might see Bitcoin at $20K again before 2022 ends.

Will December Paint Crypto Market Green?

Bitcoin has explored bear market lows within the last few weeks. More price dips beneath $15K remain possible. However, an upward rally during the 2022/23 turn of the year appears more likely, since 2023 will be the 2nd year of a bearish market. That generally prints more bullishness for the market.

Similar developments emerged early in 2019 during the BTC’s last cycle. 2022 has the same moves. If next year mimics 2019, BTC price might soar swiftly in the upcoming months. The 2019 session saw Bitcoin welcoming the year at $3,500 before rallying to $10,500 during the 2019 summer. We might witness another rally early into 2023.

Should You Buy BTC Today?

Nevertheless, there has never been an ideal time to purchase BTC. Analysts recommend regular investments per dollar cost average for individuals that trust in Bitcoin’s success. Failure isn’t an exemption, but BTC should increase in the upcoming months.

Meanwhile, Bitcoin’s more than 5% uptick today saw altcoins resort to upsides. For instance, Ethereum has surged 5.96% within the past day to hover at $1,326.11 during this publication. Most cryptocurrencies flash green in the respective daily charts (Coinmarketcap data).

What are your thoughts about the crypto space as we end 2022? You can comment in the section below.