December has flown by and we have entered a new decade! Let’s have a look at what the last month of 2019 was like in crypto.
December has historically been an eventful month for Bitcoin (BTC). The crypto asset started the month off at $7,396 and had a rather steady ride in December – at least compared to previous months. We saw the monthly high of $7,702 already on December 4 and BTC stayed above the 7.5K line until December 8. The next 10 days brought a slight decrease and a brief shock when BTC reached its monthly low of $6,462 on December 18. However, Bitcoin was back on its feet the next day, pricing at $7,276. The last weeks of December were quite stable – BTC climbed up to $7,495 on December 22 and stayed among those lines for a week. BTC closed the decade at $7,196.
What caused Bitcoin’s price fluctuations and the impressive jump on December 18? The headlines suggest various scenarios, but there are lots of talks involving the Bitcoin halving and the unknown it brings along. One of the suggestions is that the halving which is supposed to make Bitcoin less susceptible to inflation is affecting the price. Some say that the market was also influenced by scammers looking to liquidate nearly 2 billion Bitcoin, causing the price to drop.
What’s the forecast for 2020? Bloomberg predicts a rather bright future – reasoning that limited supply and other factors could be the drivers for Bitcoin’s price increase in 2020. We are excited to know more about Bitcoin’s future!
How did December go for other crypto assets? Let’s find out!
Ether (ETH) saw a 14% fluctuation in December. The crypto asset started the month at $151 and had a very steady run until December 15 – fluctuating slightly between $140 and $150. December 16 saw a downturn to $132 and the crypto hit its monthly low on December 18, pricing at $117. Ether’s recovery wasn’t as quick as Bitcoin’s – the asset stayed between the borders of $125 and $135 until the end of the month. ETH closed December at $129.21.
Ripple (XRP) had rather similar fate to ETH – the asset also went through a 14% change in December. XRP stood at $0.225 on December 1 and hovered between $0.21 and $0.22 until December 16. Similarly to other assets, XRP saw its monthly low of $0.175 on December 18. The crypto picked itself up slightly and navigated around $0.18 and $0.19 until the end of the month. XRP was worth $0.193 on December 31.
Litecoin (LTC) welcomed December at $47.5. The crypto saw a slight decrease during the first half of December and was priced at $43.4 on December 15. The second half of December was more eventful for LTC, as the price of the asset dropped to its monthly low of $35.9 on December 18. LTC wasn’t too bothered by this – as the crypto was back above the $40 line the next day and ended the month at $41.3.
Bitcoin Cash (BCH) started the month off at $215.4 and saw quite a steady first week of December. December 9 brought a downturn for the asset and BCH navigated around $205 and $212 until December 16. The asset reached its monthly low on December 18 and was priced at $170. The last weeks of December were more positive for BCH and the crypto climbed back to $203 on December 27. BCH closed 2020 at $204.7.
That’s it for this month’s market review! Did you know that you can trade all of these tokens (and many more) on the CoinMetro platforms? Check it out for yourself – log in to your CoinMetro account; use the Demo platform if you want to practice and let us know if you have any questions – we’re here 24/7 to help you!