The crypto analysis ahead of Christmas is quite interesting. Some analysts predict that the price of Bitcoin (BTC) could soar to $120,000 or around Rp1.94 billion, following the historical trend of the "Santa Rally" that often occurs in Bitcoin halving years ¹ ².
In previous halving years, such as 2020, Bitcoin recorded a 25.63% increase during Christmas week. Similar increases occurred in 2016 and 2012, respectively by 11.25% and another double digit ¹ ².
Several technical indicators also support this prediction:
Technical Indicators
- Cycle Top and Cycle Low show that BTC has passed the lowest point, but has not yet reached the peak of this cycle ¹.
- Puell Multiple shows that BTC is still below the market top, so there is room for further growth ¹ ².
- Accumulation/Distribution (A/D) and Money Flow Index (MFI) show increased accumulation activity compared to distribution, which is a bullish signal ².
However, it is important to remember that market volatility remains a factor that cannot be ignored. Investors are advised to continue monitoring market indicators and sentiments to make informed investment decisions ¹ ².