Christmas with Cryptocurrencies?
Last Thursday, December 12, 2024, CoinGecko released a report on the phenomenon known as the "Santa Claus rally". The world's most famous currency, Bitcoin, is once again set to rise. Bitcoin has seen highs after Christmas for eight years and this time will be no different.
Bitcoin Rising on Christmas?
Specifically in the case of Bitcoin, CoinGecko also found that the upward movement is more common before the date. In the 10 years evaluated, the cryptocurrency rose seven times in the week before Christmas, and five times in the week after.
However, CoinGecko considers that these movements indicate an "inconsistent phenomenon". Therefore, it is not possible to say with certainty that the asset will be able to rise in the last weeks of 2024.
In general, the asset's performance was similar both in terms of growth - with appreciations between 0.2% and 13.19% - and in terms of decline - with losses between 0.33% and 10.86% -, also in line with the general performance of the sector.