The cryptocurrency market often experiences significant volatility in the late-year period, especially after the Christmas holidays. The phenomenon of the “Santa Claus Rally” – the price increase of financial assets during the period from late December to early January – has been observed over many years.
The “Santa Claus Rally” effect in the cryptocurrency market
According to data from 2014 to 2023, the cryptocurrency market has experienced the “Santa Claus Rally” effect eight times during the post-Christmas period (December 27 to January 2). These increases ranged from a modest rise of 0.69% to an impressive increase of 11.87%.
The state of the cryptocurrency market after Christmas 2024
As of December 26, 2024, the cryptocurrency market is showing positive signs. The price of Bitcoin is currently trading at around $98,189, down slightly by 0.058% compared to the previous day. Ethereum also has a similar decline, with the current price at $3,434.91, down 1.696%. However, BNB has seen a slight increase of 0.598%, reaching $707.86.
Forecast for the coming days
Although the market has not recorded a significant surge after Christmas, based on historical trends and the “Santa Claus Rally” effect, some positive volatility can be expected in the coming days. However, investors should closely monitor macroeconomic factors and related news to make informed decisions.
Conclusion
The cryptocurrency market after Christmas 2024 is in a stable state with some slight fluctuations. Although there has not been a distinct surge, based on historical trends, there is still a possibility of the “Santa Claus Rally” effect occurring in the coming days. Investors should continue to monitor the market and influencing factors to make appropriate investment decisions.
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