A Glimpse Into Crypto’s Festive Frenzy

On Nov. 26, Bitcoin.com News highlighted the crypto community’s anticipation and hope for a ‘Bitcoin Santa Claus rally’ to manifest this year. Following the data collected from Dec. 1 to Dec. 24, 2023, the recent increase of 15.93% against the U.S. dollar has been recorded as the seventh most significant December surge since 2010.

2023 Witnesses a 15.93% Bitcoin Surge, Ranking Seventh in December Gains

Indeed, Santa granted bitcoin enthusiasts a 15.93% boost this December, yet it’s unlikely to be remembered as an official ‘Bitcoin Santa Claus rally‘ akin to the ones seen in 2017 and 2011. From Dec. 1, 2023, to the eve of Christmas, BTC soared from $37,721 per unit to an impressive peak of $43,730. Nonetheless, it secured the seventh spot in the record books, marginally outpacing the 5.6% increase seen from Dec. 1 to Dec. 24 in 2012.

The year 2017 marked BTC’s most significant December rally, escalating from $9,947 to $14,815 between Dec. 1 and Dec. 24, reflecting a 48.94% surge. In a similar period in 2011, BTC experienced a 34.02% rise, climbing from $2.91 to $3.90 per coin. Meanwhile, 2016 recorded what seems to be the last ‘Santa Claus rally’, with a noteworthy 21.46% uptick against the dollar, elevating the price from $743 on Dec. 1 to $902 by Christmas Eve.

In 2010, bitcoin experienced a 19.05% rise within the same December period, while 2020 saw an 18.86% increase. The year 2015 witnessed BTC climbing by 17.29%. Aside from 2023’s and 2012’s gains, the years 2022, 2018, 2019, 2021, 2014, and 2013 all endured bearish Decembers. Specifically, in 2022, BTC’s value fell by 2.16% from Dec. 1 to Christmas Eve, and in 2018, it declined by 2.39% during the same December timeframe.

Subsequently, in the following December, bitcoin’s price saw a 2.77% decrease between those dates. In 2021, the price experienced a double-digit downturn, plummeting by 10.70%, and in 2014, BTC’s worth diminished by 11.72%. The period from Dec. 1 to Dec. 24, 2013, was notably the most drastic, with BTC prices plunging 41.18%. On Dec. 1, 2013, BTC traded at $1,103 per coin, but by the 24th, it had fallen sharply to $649 per unit.

As the crypto community reflects on the fluctuations and festive rallies of bitcoin’s December history, it’s clear that the journey has been as volatile as it has been exhilarating. The 2023 surge, though not record-breaking, adds another chapter to this ongoing saga, illustrating the unrelenting enthusiasm and spirit that defines the crypto market.

What do you think about this December’s market performance compared to other years? Share your thoughts and opinions about this subject in the comments section below.