๐ Ho ho ho! Christmas is here, but Bitcoin is down 15%! Meanwhile, tech stocks on the NASDAQ also fell 3%. Is this the Grinch or just the market taking a nap?
- Morningstar's Dominic Pappalardo says, "High valuations make markets easily surprised." Maybe that's why the market was a bit sluggish after the Fed said it would cut rates less in the future.
- But don't worry, history says there's a 79% Santa Claus rally! Stocks usually rise 1.3% at the end of the year. And Bitcoin? Usually joins the party too!
- Last year, Bitcoin rose 4.87% at Christmas, higher than the NASDAQ which was only 0.46%. But be careful, Krampus can bring charcoal to altcoins!
So, are you team tech or crypto? Let's discuss in the comments column! ๐