With the holiday season approaching, the eyes of investors and cryptocurrency enthusiasts are turning to the market, wondering if we will see an exciting Christmas rally this year. Let's reflect on the past three years and explore the possible directions we could see in the final week leading up to Christmas 2023.
Recapping Three Years of Crypto Christmas: 2020, 2021 and 2022
In 2020, Bitcoin experienced an extraordinary Christmas rally, rising from $19,000 to $24,000 in the week before Christmas. It surpassed the psychological resistance of $20,000 and ended the year reaching an impressive value close to $30,000.
2021, on the other hand, saw an all-time high in November, surpassing $68,900. However, by the holiday season, it suffered a 25% correction from its peak.
In contrast, 2022 was a quieter year for #cryptocurrency during the holidays. Bitcoin was trading around $16,750, experiencing stagnation with low volatility and little interest.
What does the Last Week Before Christmas in 2023 have in store for us?
As we enter the final week before Christmas 2023, uncertainty and excitement are in the air. Traditionally, markets tend to calm down during the holiday season, but cryptocurrencies, always unpredictable, can buck this trend.
The anticipation of the possible approval of several #ETF Bitcoin spots in January 2024 (or even March) adds an additional layer of intrigue to the picture. In this context, the analysis of Bitcoin's monthly returns reveals the variability of December in terms of price growth or decline.
Currently, the price of #Bitcoin is around $42,000, while other cryptocurrencies show stagnation in their values. The question that resonates in investors' minds is whether Bitcoin will maintain its uptrend or at least support above $42,000.
Could we be on the verge of an exciting #altcoins season? The possibility of a correction cannot be ruled out, since the crypto market always maintains its ability to surprise.
En conclusión, la última semana previa a Navidad en 2023 promete ser un período emocionante y lleno de posibilidades para el mercado de criptomonedas. Manténganse atentos a las tendencias, prepárense para la volatilidad y ¡que los sueños de un #rally navideño se hagan realidad para todos los entusiastas de las criptomonedas!
DYOR and like for more! 👍
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