The data granularity for a specified date range appears to be a full day; the granularity of the monthly chart appears to be six hours. That accounts for the difference in the look of the chart.
Anyway, here's the chart for December 2018.
Bitcoin (BTC) Price Index
(cointelegraph.com)
The chart shows a painful drop from $4200 to $3200 during the first half of the month, bottoming at mid-month. That was followed by a sharp one week rise leading to a gentle decline that lasted into the new year.
Cointelegraph's Analysis category made no attempt to explain any of those three trends, focusing instead on stories like From Blanket Ban to Its Own Stablecoin: How Facebook’s Relationship With Crypto Changed Over 2018, which was the last article in the category for the year 2018. Cointelegraph's Price Analysis tag had three stories that coincided with the three stages in the month's chart:-
- 2018-12-17: Bitcoin, Ripple, Ethereum, Stellar, EOS, Litecoin, Bitcoin Cash, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 17 • 'In December of last year, market participants were rejoicing as cryptocurrencies led by Bitcoin were soaring. The leading digital currency reached a high of close to $20,000 on Dec. 17 and investors were hoping for even higher levels.'
The analysis continued with a cautious prognostication:-
A year later, after a massive bear market, the question in every investor’s mind is, can Bitcoin rise from the dead once again and stage a turnaround? While we believe that Bitcoin is closer to a bottom than ever, we do not expect a sharp rally from current levels. There is a huge overhang of positions that will liquidate when the virtual currency attempts a recovery. Hence, it will be a slow and laborious move higher.
This forecast was based on a plausible scenario:-
Fundamental factors like actual utility, clear regulations and wider adoption of the technology will attract institutional investors who will drive the next leg up. All of this will require time and will not happen overnight.
The second stage was that one week runup:-
- 2018-12-24: Bitcoin, Ripple, [etc...]: Price Analysis, Dec. 24 • 'Christmas has brought some cheer to the crypto traders. The total crypto market capitalization has spiked by about 29 percent from just under $101 billion on Dec. 15 to $143 billion on Christmas Eve. Though it is still way below its all-time-high, the growth over the past few days is showing signs of a bottom formation.'
The situation mid-month could indeed have been a bottom. Looking back at the previous monthly charts for 2018, there was no other month that looked like December. The analysis covering the third stage was:-
- 2018-12-31: Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 31 • 'It is the last day of a very tough year for crypto traders. While 2018 started on an upbeat note, it is ending with uncertainty. Traders and analysts are divided on whether cryptocurrencies have bottomed out. This, in a way, is good, because markets are cautious and excesses have been removed.'
Have excesses been removed? The year 2018 ended with a bitcoin price four times greater than at yearend 2016.
I have one more small analysis to make before I close this post. In the '2018-11 Price' post, I noted,
Back to the November chart, I noticed that there are three additional price sources available over what was shown in the '2018-10 Price' post.
Here's a similar analyis for the December chart, which also shows changes.
(A : 2018-11 Price) Index, Bitstamp, Bitfinex, Hitbtc, Huobi, Poloniex, Kraken, Binance, Okex, Coin
(B : 2018-12 Price) Index (A1), Okex (A9), Binance (A8), Bitstamp (A2), Kraken (A7), Bitfinex (A3), Hitbtc (A4), Coinbase (A10?)
Ten price sources end-November dropped to eight sources end-December. Huobi and Poloniex disappeared, after appearing for the first time end-November. One of the differences, Coin/Coinbase, was due to an error on my part, not noticing a slider. If that was the only error I made in the previous post, I'll consider myself lucky.
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