Bitcoin is on pace to register its most significant decline in November since the bear market of 2018, currently facing losses nearing 20% for the month. According to forecasts, it is expected that Bitcoin may reach a price bottom this week.

Key Highlights:

• Bitcoin’s performance in November continues to reflect its weakest results since the 2018 bear market.
• Historically, December has mirrored similar pricing sequences after “red” Novembers.
• An AI forecast indicates BTC/USD will likely hit a local low this week.

Analysis of the November 2018 Bear Market

Bitcoin remains entrenched in bear market conditions, with a decline from October’s all-time high reaching as high as 36%. Data provided by monitoring platform CoinGlass reveals the price at $87,500, a 20% decrease this month. This type of poor performance has not been witnessed since 2018, which followed an earlier bull market peaking at $20,000.

“Each time Bitcoin has faced a losing November, December has ended up similarly, " commented Sumit Kapoor, founder of the crypto trading group WiseAdvice.

BTC/USD Monthly Returns

According to trends since 2013, the average gains for BTC/USD in November have surpassed 40%, while December tends to show modest increases with an average of 5%.

Future Outlook for Bitcoin Prices

Regarding Bitcoin’s seasonal price trends, economist Timothy Peterson presented a more positive outlook, projecting a recovery into 2026.

“The AI-powered Bitcoin simulation suggests either the price bottom has already formed or will form this week, with steady growth expected toward the year’s end,” Peterson indicated.

“There is less than a 50% chance Bitcoin will reclaim $100,000 by December 31. However, there is at least a 15% likelihood that Bitcoin will close lower than $84,500 and an 85% probability of finishing higher.”

Bitcoin AI Price Model

He cautioned that this model does not factor in potential volatility from external factors like economic events. Previous analyses, which compared Bitcoin’s performance this year to that of 2015, also hinted at a potential rebound by year’s end, though Peterson dubbed this idea as “hopium.”

“Want some hopium? Bitcoin was at the same position in 2015 and then surged by 45%, finishing the year up 33%.” – Timothy Peterson

This article does not offer investment advice. Readers are encouraged to research thoroughly before making any financial decisions.