We analyzed Bitcoin's performance one week before and one week after Christmas since 2014.
Bitcoin's performance on New Year's Eve varies each year, and depending on the conditions at the time, it affects its performance throughout the year. In this article, we will review Bitcoin's performance one week before and one week after Christmas over the last 10 years.
2013
Bitcoin proved itself in 2013, a year in which the price exceeded the $1,000 mark for the first time. Bitcoin, which was around $690 a week before the New Year, rose until January 1, but these levels were the peak of the year. Bitcoin had a bear season in 2013, losing 75% of its value.
2014
A long bear season in 2014 took a bit of a toll on confidence in Bitcoin. Bitcoin fell as low as $263 a few days before New Year's Eve and continued to decline on New Year's Eve and a week later.
2015
In 2015, a year that was characterized by a bullish but unspectacular bull season, Bitcoin surged 12% to $412 a week before the New Year. Despite ending the last week of the year on a bullish note, Bitcoin fell sharply in the first week of the new year.
2016
Bitcoin spent almost the entire year on the rise in 2016. In the last days of the year, similar to 2015, it rose in the last week and fell in the first week of the year. Bitcoin, which had a positive year with an increase of 180%, approached the $ 1,000 level again.
2017
Bitcoin, which started with a decline in the first week of the year, ended the year with a bull season. Although Bitcoin lost 38% in the last week of the year, it closed the year around $15,000 with an increase of 1,900%. 2017 was recorded as the 4th year this happened.
2018
The bear season of 2018 ended with the Bitcoin price dropping to around $3,000. Bitcoin, which increased 31% in the last week of 2018, fell in the first week of 2019.
2019
Bitcoin, which experienced a rapid recovery despite the fall in the first week of the year, rose above 10 thousand dollars again during the year. However, this year, it fell in the last week and rose sharply in the first week of the year.
2020
A more unusual year than other years, 2020 saw a near 700% surge in value on the back of the COVID-19 pandemic fall and subsequent rise. Bitcoin did not experience a decrease in volatility in the last week of 2020, closing the week before New Year's Eve green and welcoming the New Year with a green candle.
2021
2021 is known as a year when many people joined the cryptocurrency market. Bitcoin ended the year with a loss of volatility despite reaching all-time highs during the year. Bitcoin plummeted in the last week of 2021 and started the first week of 2022 in the red.
2022
2022 was a bear season that many remember well. There were many stories of chaos, bankruptcies and bankruptcies in the cryptocurrency market at the time, with 2022 ending with an overall drop of 65%. Bitcoin ended the last week of 2022 with a small decline, but entered the new year with a strong rally from the first week and is up 163% at the time of writing.
Future Prospects in 2023
According to historical data, the volatility in the week before and the week after New Year's Eve has decreased slightly, and the changes experienced during this period have been noted. Therefore, Bitcoin's candle closure next week's candle is likely to be opposite to its candle opening in the first week of 2024. According to the data, next week is also expected to end with low volatility.
