Bitcoin bulls might be sitting out the last month of 2019. While December has been kind to the top cryptocurrency since 2014, it appears that this year will be different. Analysts don’t see bitcoin bulls staging a coup in the next month or so.
December will likely be a cold bear winter for the dominant cryptocurrency. Of course, the forecast may change if bitcoin recovers certain key levels. For now, a slow bleed appears to be on the horizon.
There’s no doubt that bitcoin is in bear territory. The coin is down 50% from its 2019 high of $13,880. Although there were moments when the cryptocurrency appeared to be regaining its bullish form, every rally was met by tremendous selling.