The Reasons Why Bitcoin May Bounce After Christmas
Bitcoin Price May Bounce Once Again After Christmas
December and January have become the most challenging years for Bitcoin investors and hodlers in recent years. For example, the significant price drop during December 2018/January 2019 left the majority of investors disappointed, as they lost their digital funds in a few weeks. This end of the year, as many could notice, the price was in focus again.
As we previously reported, the latest drop and instant bounce were managed by the fact that Bitcoin miners didn’t give up yet. Also, some experts tend to believe that such a rally destroyed any prospects for altcoins in 2020 to be significant players on the market in terms of investing or trading.
Such a holiday tendency made several analysts evaluate the upcoming movements that may occur on the crypto market after Xmas. The majority of them agree on another bull price run.
Another Bull Rally for Bitcoin
As usual, the first discussions about Bitcoin price prospects after Xmas appeared on Twitter. Mainly, a cryptocurrency trader with a nickname ‘BitDealer’ suggested the following analysis that is based on holiday price trends.
Here, it is interesting to mention the following information – according to his research, the Bitcoin price has a so-called tradition to increase its value for at least 2,5-3%. The crucial days to follow are going to be December 26,27 and 28th. As a result, he applies that trend to the price, as it should be around $7,450-7,550 area.
Of course, this is just an opinion of one trader that did research and predicted the price. There is always a chance that unforeseen factors may drive the market. At least, the human factor is still present.
Additional Bull Factors for Bitcoin
The mentioned holiday trend is not a single reason that may affect the Bitcoin price. A cryptocurrency trader, better known as NebraskanGooner, suggested his analysis. According to his data, he predicted the drop to the $6,400 level, as well as the following redemption to the $7,700 over the short period.
The crypto market will be in focus for the next days for sure, as many investors, traders, and hodlers expect to get pure profits. Why wouldn’t they, right?