#ChristmasMarketAnalysis
Bitcoin Could Repeat Christmas Performance, Analyst Predicts
Since the beginning of the year (YTD), Bitcoin price has increased by 137%, as the coin recently surpassed $108,000 before declining. Despite the slight correction, there is talk in some corners that BTC could trade higher in the coming Christmas week.
It is important to note that Bitcoin price does not always rise every Christmas season. However, in a bull market phase, the crypto asset tends to perform strongly during this period. Conversely, a bear market usually brings a significant drop in Bitcoin price during the holiday season.
Data from Coinglass shows that during the 2020 halving, Bitcoin surged by 25.63% during Christmas week (week 52). Similarly, in 2016, BTC rose by 11.25%, and in 2012, it recorded another double-digit increase.
