The previous predictions about Bitcoin (BTC) reaching 35K near Christmas were, it seems, underestimated. Just yesterday, BTC soared to 36,000, a full 53 days before the joyous holiday. This unexpected surge has sparked hope among cryptocurrency enthusiasts, and many are now eyeing an even more significant rally in the coming weeks.
Historically, the weeks leading up to Christmas have witnessed the phenomenon known as the “Santa Rally.” Typically, this is a seasonal blip that injects a sense of goodwill into equity markets. It’s a nice but not earth-shattering event. However, this year might be different, and we could be in for a far more substantial rally. Surprisingly, this cheer isn’t being delivered by Santa Claus, but by the United States Federal Reserve, the Securities and Exchange Commission, and financial giants like BlackRock.
The lineup of these major players seems to have set the stage for a holiday cheer bonanza that could push Bitcoin’s price to new heights. With this unprecedented alignment of economic forces, it’s no wonder the price of Bitcoin is slightly below 35K at the moment.
While a Santa rally typically brings joy to investors, a few potential spanners in the works could threaten the cryptocurrency’s holiday ascent. One such concern is the possibility of higher inflation in the United States before the end of the year, which could have a ripple effect on the cryptocurrency market. Additionally, tensions between Israel and Palestine could also disrupt the end-of-year Santa rally. However, the current trajectory suggests that these issues might not be strong enough to halt Bitcoin’s rise.
In fact, new price predictions for the Santa rally are even more exciting. According to Matrixport, a year-end rally of over 65% could catapult Bitcoin to a remarkable $56,000. This projection highlights the continued upside potential of Bitcoin and showcases the enthusiasm in the market for a record-breaking holiday season.
As we approach Christmas, all eyes are on Bitcoin, and the excitement is palpable. While some challenges may lie ahead, the stage is set for a potentially historic Santa rally, one that could propel Bitcoin to new heights, bringing joy and cheer to crypto investors worldwide. And as the world waits with bated breath for the holiday season to unfold, we can’t help but say, “Bitcoin beyond 35K for Christmas? Thank Jerome Powell if it happens.”
