--- title: "Lifting the Offer: Bitcoin trading the week of December 21, 2015" description: Released every Monday, Lifting the Offer provides an in-depth bitcoin market recap and price outlook to prepare bitcoin traders for the week ahead. image: https://insights.paxos.com/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-12.21.2015.png --- [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Square.svg)](https://www.itbit.com/) [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Long.svg)](https://www.itbit.com/) [OPEN TRADING ACCOUNT](https://exchange.itbit.com/signup) [SUPPORT](https://www.itbit.com/contactus) [LOGIN](https://exchange.itbit.com/login) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) # [ITBIT TRADING BLOG](https://www.itbit.com/blog) ## Lifting the Offer: Bitcoin trading the week of December 21, 2015 December 21, 2015 at 4:46 PM | [Bobby Cho](https://insights.paxos.com/blog/author/bobby-cho) ![Lifting-the-Offer-Week-of-12.21.2015.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-12.21.2015.png?width=1000&name=Lifting-the-Offer-Week-of-12.21.2015.png "Lifting-the-Offer-Week-of-12.21.2015.png") The bitcoin market started the week hot, shooting up 5% between Monday and Tuesday. Ultimately, the early gains were erased and the price closed the week in the red. Traders should anticipate higher volumes early this week with volatility tempering down as the Christmas holiday slows market activity.  [CHECK OUT OUR DECEMBER BITCOIN MARKET REPORT](https://www.itbit.com/blog/itbit-bitcoin-market-report-december-2015)   ![Bitcoin-Tradeblock-12.21.2015.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Bitcoin-Tradeblock-12.21.2015.png?width=908&name=Bitcoin-Tradeblock-12.21.2015.png "Bitcoin-Tradeblock-12.21.2015.png") ##### ***[Source: tradeblock.com](https://www.tradeblock.com)*** ### Bitcoin Price Recap Strong early week price movements led the market to the cusp of December’s high of $468. Low trading volumes in the second half of the week the market to trade sideways through Friday.  Prices dropped 7.5% intraday on Sunday, hitting a floor at $426.    [OUR LATEST BITCOIN RESEARCH DELIVERED TO YOUR INBOX. SUBSCRIBE TO ITBIT TRADING BLOG TODAY!](https://www.itbit.com/blog/lifting-the-offer-bitcoin-trading-the-week-of-december-21-2015#subscribe) ### Bitcoin by the Numbers ![Bitcoin-Price-and-Market-Cap-12.21.2015.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Bitcoin-Price-and-Market-Cap-12.21.2015.png?width=1037&name=Bitcoin-Price-and-Market-Cap-12.21.2015.png "Bitcoin-Price-and-Market-Cap-12.21.2015.png") ### Bitcoin Trading Week Ahead Buyers will look to inject dry capital into their trading accounts to take advantage of the lower trading levels. Market participants will also use this week to close out year-end positions. Traders should look for opportunities early in the week before the Christmas holiday. Technicals will play a larger role this week as news will be limited and likely a non-factor.  Support is set at $435 with resistance at $465. ### Best Bits from Last Week - [VentureBeat: How Banks are Trying Squelch Bitcoin’s Momentum](http://venturebeat.com/2015/12/20/how-banks-are-trying-squelch-bitcoins-momentum/) - [theStreet: Future Generations Won't See Money the Way We Do, Says Bitcoin Market CEO](http://www.thestreet.com/story/13345910/1/future-generations-won-t-see-money-the-way-we-do-says-bitcoin-market-ceo.html) - [CCN: itcoin Exchanges in Japan Must Be Registered under New Proposed Regulations](https://www.cryptocoinsnews.com/bitcoin-exchanges-in-japan-must-be-registered-under-new-proposed-regulations/) - **[Coindesk: Two Board Members Exit as Bitcoin Foundation Seeks Funding](http://www.coindesk.com/harper-janssens-exit-bitcoin-foundation/)** ***Bobby Cho** *is the Director of Trading at itBit and leads our* [*OTC Agency Trading Desk*](https://www.itbit.com/h/otc)*. Previously, Bobby was Vice President of Trading at SecondMarket where he helped create the first broker-dealer based institutional bitcoin trading desk. He has extensive experience in both bitcoin and securities trading with clientele ranging from Fortune 500 companies, hedge funds, asset managers and other financial institutions.**   ## Trade on itBit’s OTC Agency Trading Desk and Receive $50 ### Trading over 100 bitcoins? Use itBit’s OTC desk and receive $50 in bitcoin after your first trade!  ### Personalized Trading Support | Low Fees | Same-Day Settlement #### [![LEARN MORE](https://no-cache.hubspot.com/cta/default/424565/f966d116-49ad-4807-a82a-a7ba4bcbe627.png)](https://cta-redirect.hubspot.com/cta/redirect/424565/f966d116-49ad-4807-a82a-a7ba4bcbe627)     *\*All data and references are current as of 9:00AM EST on 12/21/2015.* *[Lifting the Offer Legal Disclaimer](https://insights.paxos.com/hubfs/_itBit_LTO/Lifting_the_Offer_-_Legal.pdf?t=1428961216609&t=1429305046006&t=1429914456000&t=1430514280949&t=1431121431128&t=1432670425436&t=1433193396507&t=1433598447041&t=1433979988407&t=1434988331422&t=1435616577297&t=1436799089921&t=1437165948432&t=1438380255567&t=1438901527874)* ### Bitcoin Trading Research Delivered to your Inbox ### Categories ### Subscribe to itBit Blog **Products** [itBit Exchange](https://www.itbit.com/exchange) [OTC Trading](https://www.itbit.com/otc) [Custody Services](https://www.itbit.com/custody) [Escrow Services](https://www.itbit.com/escrow) **Resources** [Market Data](https://exchange.itbit.com/markets) [Support Center](https://help.paxos.com) [API](https://www.itbit.com/api) [itBit Blog](https://www.itbit.com/blog) [Fees](https://www.itbit.com/fees) **Company** [About itBit](https://www.itbit.com/about-itbit) [Press](https://www.itbit.com/h/press) [Careers](https://www.itbit.com/h/careers) [Customer Support](https://www.itbit.com/contactus) [Legal](https://www.itbit.com/legal) **Crypto Assets** [Bitcoin](https://www.itbit.com/bitcoin) [Ethereum](https://www.itbit.com/ethereum) [Bitcoin Cash](https://www.itbit.com/bitcoincash) [Litecoin](https://www.itbit.com/litecoin) [Stellar Lumens](https://www.itbit.com/stellar-lumens) - [![](https://insights.paxos.com/hs-fs/hubfs/_00_PAXOS/Medium%20Updated.png?width=28&height=28&name=Medium%20Updated.png)](https://medium.com/paxos/itbit/home) - [![](https://insights.paxos.com/hs-fs/file-2672941852-svg/_itBit_Social_Icons/twitter-02.svg)](https://twitter.com/itBit) - [![](https://insights.paxos.com/hs-fs/file-2654911471-svg/_itBit_Social_Icons/linkedin-04.svg)](https://www.linkedin.com/company/itbit-pte-ltd) Copyright © 2020 Paxos Trust Company, LLC. All Rights Reserved. NMLS #1766787 Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may not grow. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin or other crypto assets.