The post Santa Rally for Bitcoin Price This December? 5 Big BTC Supports appeared on BitcoinEthereumNews.com.

Is this December a good time to buy Bitcoin? Some say there’s no gift like the present, especially during the year-end holiday season. Because that’s when equities and cryptocurrencies historically deliver most of their positive yearly returns. “A Santa Claus rally is the sustained increase in the stock market that occurs around the Christmas holiday on Dec. 25,” an entry on Investopedia last year reports. “Most estimate these rallies happen in the week leading up to the Christmas holiday, while others see trends that begin Christmas Day through Jan. 2.” But it’s not just the seasonal bump going for Bitcoin and cryptocurrency markets this month. There are also broad macro trends in the little orange coin’s favor. Meanwhile, there are fundamentals in BTC’s supply on-chain and on exchanges. To top that off, the Trump bump for most equities and crypto assets after his historical election win is very real. Given his pro-growth agenda for cryptocurrency, markets expect that to weigh heavily in Bitcoin’s favor as his administration gears up. Here are five reasons Bitcoin bulls expect BTC’s price to rally further through December and into the New Year. 1. Fed Expects to Cut Rates Again in Dec Cryptocurrencies like Bitcoin usually rally over the long term during low Federal Reserve interest rate regimes, in addition to corporate sales and stocks. With rates held down to near 0% for years after the financial crisis of ’08, Bitcoin grew in leaps and bounds from nothing to $20,000 per BTC by Dec. 25, 2017. Then, when the Fed raised rates through 2018, Bitcoin’s price collapsed into what markets called the “crypto winter.” After that, the Fed cut rates to zero again in response to the global coronavirus pandemic in 2020. That led to new all-time high prices for BTC and many altcoins. Then…

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Filed under: News - @ December 9, 2024 7:20 am