#ChristmasMarketAnalysis

Santa Claus's Gift? Cryptocurrencies May See New Highs After Christmas, Report Shows

Market analysis firm CoinGecko points out that, in the last 10 years, bitcoin $BTC has seen highs after Christmas in eight years.

Market analysis firm CoinGecko released a report last Thursday, the 12th, dedicated to an old and curious phenomenon in the cryptocurrency market: the "Santa Claus rally".

As the name suggests, the movement is linked to an appreciation of assets right after Christmas.

The "gift" that the market receives during this period was quantified by the company. In the last 10 years, between 2014 and 2023, cryptocurrencies had a positive performance on eight of the 10 occasions. The period analyzed encompasses December 27th to January 2nd.

According to CoinGecko, gains ranged from 0.69% in the year with the lowest increase, in 2014, to 11.87% in the year with the best performance in the sector, in 2017. In 2023, the "Santa Claus rally" resulted in a 3.64% appreciation in the market. The years 2021 and 2022 were the exceptions, with drops of 5.3% and 1.9%, respectively.