Bitcoin Rally Ahead of Christmas: Historical Trends and 2024 Predictions
In the run-up to Christmas, Bitcoin (BTC) often experiences a rally, known as the "Santa Claus Rally". Historically, Bitcoin tends to show a price increase towards the end of the year. In the last 10 years, Bitcoin has recorded a price increase of around 0.20% to 13.19% during the Christmas period.
In 2024, Bitcoin price predictions are increasingly optimistic. Analysts and research firm 10X Research project that Bitcoin prices could reach up to $115,000 before Christmas, driven by massive accumulation by whales (large investors). In addition, on-chain data also shows that whales have purchased more than 63,000 BTC in November 2024, indicating strong support for Bitcoin prices.
As of today, Bitcoin is trading at $96,023 with a negative daily change of -0.00571% (down around $551) at an intraday low of $93,712 and a high of $97,289. While Bitcoin shows upside potential, it is important to remember that the crypto market is highly volatile and its movements cannot be predicted with certainty. Therefore, investors are advised to conduct in-depth analysis and consider the risks before making any investment decisions.