My theory is that people buy it as holiday gifts.
There is no such fixed pattern. Well, the last couple of years is a testament to it. Last December saw a very aggressive bull run in Bitcoin and even to so many altcoins. The rally was so strong that its correction was also very strong. This year's December is definitely one very different case. While there was some growth to the prices, there was no huge rally. There was no single bull showing its horns.