✨ Will We See a "Santa Rally" This Year?
posted 2 Nov 2023
Matrixport forecasts that BTC has the potential to climb to $56,000 by
December's end, in line with Bitcoin's historical tendency to surge in
the year's final months.
Marcus
Thilen, the Head of Research and Strategy at Matrixport, stated: “If
bitcoin is up at least +100% by this time of the year, then there is a
+71% chance or five in seven that bitcoin would finish the year higher
with average year-end rallies of +65%.”
He labels the period from November’s commencement to mid-December as the “Santa Claus Rally.”
Possible
drivers of this scenario include the approval of spot ETFs, a pause or
decrease in the hikes of the U.S. federal interest rate, and the
anticipated Bitcoin halving. Though these factors are more applicable to
the subsequent year, the growth might already be spurred by
anticipation alone.
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