#ChristmasMarketAnalysis Since the beginning of the year, the price of Bitcoin has increased by 137%. Recently, the cryptocurrency surpassed the $108,000 mark, after which a slight correction followed. Despite the decline, many experts believe that during Christmas week, the rate may rise.
The price of Bitcoin does not always increase during the Christmas period. However, in bullish cycles, the cryptocurrency usually shows good dynamics. In bearish markets, on the contrary, there have often been significant drops in the rate.
According to Coinglass, in 2020, when the previous Bitcoin halving occurred, the cryptocurrency's rate during Christmas week (the 52nd week of the year) rose by 25.63%. In 2016, the growth was 11.25%, and in 2012, there was also a double-digit increase in value.
In December of this year, Bitcoin has already gained 8.71%. If historical trends continue, BTC will continue to rise and approach the $120,000 mark next week.