Can the "Santa Claus rally" help Bitcoin turn around? Check out this prediction
Bitcoin has fallen sharply recently, but don't forget that there are often "Santa Claus rebounds" at this time of year in previous years. That is, once the holiday arrives, the price of Bitcoin may soar.
However, history is something that sometimes rises and sometimes falls. Bitcoin previously hit a high of $108,000, but now it has fallen back to $92,442, a drop of 14.5%, which makes people wonder: Will this year's "Santa Claus rebound" come? Although it has returned to $94,000, it is still a long way from the beginning. 0 dollars, but it still fell by more than 11% last week.
As 2024 is about to pass, everyone is watching with wide eyes whether Bitcoin will rebound or continue to fall.
Speaking of which, the crypto market often performs well during the holidays, especially in the years before the price hits a new high. For example, in 2016 and 2020, the crypto market rebounded sharply. CoinGecko's research also said that from 2014 to 2023, the market rose after Christmas in 8 years, with an increase ranging from 0.7% to 11.8%. Therefore, many people think that there will be "Santa Claus" this year. Rebound".
But it doesn't work every year. For example, in 2021, Bitcoin fell 26% by Christmas, and it continued to fall in 2022.
However, everyone is still looking forward to a big move in Bitcoin in 2025. After all, the Bitcoin market has a four-year cycle. Although the price has fallen, the cyclical law still gives people some confidence.
Speaking of influencing factors, there are a few things to pay attention to. Around December 27, $18 billion of Bitcoin and Ethereum options contracts will expire, which may cause price fluctuations and affect prices. In addition, the social Sentiment has fallen to the lowest level this year, maybe this is a sign of a rebound.
Bitcoin's performance during Christmas is really unpredictable. Sometimes it rises happily, and sometimes it falls badly. But if you look at the whole of December, Bitcoin's returns are actually quite good. The returns of betting on the whole of December are sometimes higher than just betting on the "Santa Claus rebound".
As 2024 is about to end, whether Bitcoin will rebound or continue to be sluggish, everyone is waiting to see.
If you like this article, don't forget to follow it. Thank you for your support and encouragement!
