Bitcoin lost -80% of its value since making it to an all-time high of around 20,000$ ten months back in January.
With the persistent November dips, BTC even lost nearly -40% against the fiat in the last two weeks and -30% during the last seven days. At this rate of dipping, Bitcoin is now touching a new low of below 4,000$, with more dips predicted for the top trading currency.
After the November dips that are still visible in the market, BTC went down from the market cap of around 111 billion dollars to its current capitalization of around 67 billion, marking horrific losses.
At this rate, it is likely possible to see BTC getting back to 6,200$ as recorded before the November dips, however, December might bring some surprises to the dipping topper.
Bitcoin Price Prediction for December 2018: More Dips for BTC or New Gains?
Bitcoin is currently trading at 3,880$ with -10% of drops in the last 24 hours, which indicates that the market is still seen in a prolonged dip that started out between November 14th and November 15th.
With this rate of dipping for the past three weeks, it is difficult to imagine that BTC might go up towards the value of 6,000$ given the fact that it even went below 4,000$ to touch new lows.
Even with big names in the cryptoverse like John McAfee and CZ, claiming that BTC will get its major rebound, it is less likely that December will bring new gains for Bitcoin – at least not enough gains to send Bitcoin to the moon.
It is considered that there will be a possible scenario of buying dips at the end of November with another possibility that BTC might go even below 3,000$.
In case the buying dips case scenario takes place, BTC might go up to reach 6,500$ in a matter of days.
However, it is considered that the next rebound is more likely to cause another selloff that might bring BTC down to the value of 3,000$ in December.
When Will Bitcoin Get to See a Major Rebound?
It is considered that Bitcoin will continue to drop after December 2018, until it potentially reaches the value of 1,600$ which should be the lowest Bitcoin was seen since May 2017.
BTC should then acquire a more stable pace of growth that could eventually take the top cryptocurrency back to the price of 10,000$ by December 2021 from the starting value of 1600$ that BTC could potentially drop to in December 2019.
The market is surely crystallizing with the latest dips, also noting that 2018 was pretty much marked with the negative trends and the frequently dipping market that made the entire market lose billions of dollars since February to November 2018.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
One has o note that BTC makes up for 53% of the entire cryptocurrency market, which means that Bitcoin dipping is also affecting the cryptocurrency market in general.
Since the beginning of November Bitcoin alone lost 44 billion dollars in market capitalization, still seen in decline.
However, buying potential dips in December 2018 might pay off in 2021 when it is considered that BTC will have a major rebound with the rest of the cryptocurrency market.