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Bitcoin Following the ATH Playbook

Dec 9, 2020 · 4 min read

By Kevin Kelly, CFA

The start of December has disappointed many bitcoin hodlers who thought BTC would be halfway to $30k by now. For skeptics, it’s been a breath of fresh air (though I’d suggest inhaling deep on this one if history serves as any guide).

At the time of writing, BTC is down over 6% from its new all-time high with several short-term indicators working against it. But that’s normal, that’s what’s supposed to happen. Bitcoin reacted similarly after putting in a new all-time closing high back in Feb. 2017; it fell more than 20% over the following four weeks before reversing course towards new heights.

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