Does Bitcoin Like To Soar Before Christmas? 17 or 2020 will be very high

Some believe there will be a rival to Santa Claus unless the market slows down due to the shortcomings of the Omicron variant. It refers to the last 5 trading days of December and the first 2 trading days of January, but a period that gained further traction in the cryptocurrency market a few years ago, respectively, a maximum of 12. short notes for total monthly increments.

In December of last year, the BTC rate increased by 47% and in December 2017, the BTC rate increased by 80% to reach new highs all the time.

At the time of this writing, the value of Bitcoin is only $ 57,000 higher, so if the Santa Claus rally is similar to last year, the value of Bitcoin could reach $ 80,000 of here the end of this year.

Nikita Rudenia, co-founder of 8848 Invest, also believes in the return of Santa Claus, declaring:

"Despite the current crisis, we expect Bitcoin to close at $ 70,000 a coin this year. If this is achieved, there will be a major overhaul after Bitcoin hits $ 75,000 early in 2022."

What's interesting is that ETHereum is doing well now. According to data from CoinGecko, the ETH / BTC ratio rose to 0.082 BTC per ETH, or around 12 ETH per BTC, reaching its highest level since mid-May. This could allow ETH to generate added value in December.

After doing a thorough study of the structure of the chain, Glassnode concludes that current Bitcoin investor returns are better than the September booster.

“Every short and long term holder has a more profitable product than the September update, which can be considered good value for money in most cases. "

Glassnode reported that the total share of assets held by short-term holders has increased by 60% since September. "In the bull market, this combination is generally recommended for the short term."

As a result, hopes for the return of Santa Claus begin to grow. At the end of the year, that increase can be attributed to a number of factors, such as the fun atmosphere and increased Christmas income.

However, if the global financial crisis is severely disrupted and more closures are available or usable, then a new omicron virus could crash Christmas. Traders can stand for a while until they learn more about the new virus, according to the Nasdaq.