As we approach the New Year, there's a buzz in the digital sphere. In the cryptocurrency community, talks about the Bitcoin Santa rally are gaining momentum, not just in virtual spaces but also on social media. Some experts anticipate that cryptocurrencies are about to ride the winds. The key is to stay steady in this whirlwind.
Investors are riding high on positive vibes, thanks to the impressive surge in BTC. In October, Bitcoin shot up by over 10%, and in 2022, it saw a staggering 128% increase.
The current scenario mirrors the traditional Santa Claus rally in the stock market, where stocks rise between Thanksgiving and Christmas. However, in the digital currency market, it kicked off later and was first noted at the end of November 2013. Back then, the price of BTC did not go beyond $1,000 per coin. Throughout December 2013, Bitcoin's price kept climbing, hitting a peak of $1,147 per token by December 23. Then followed a multi-year break.
The next substantial surge was witnessed during the festive season in December 2017. During this period, Bitcoin swiftly entered an upward spiral, surpassing $19,000 by mid-December. Furthermore, BTC approached the significant level of $20,000 for the first time.
In 2021, amid the bullish trend of the leading cryptocurrency, things took a turn. In November, BTC reached an all-time high of $69,000, but in December 2021, it sharply declined due to high volatility and low trading volumes. Later, Bitcoin tried to hold its ground around $46,000, but to no avail. In the end, the "Santa Claus rally" ended in disappointment.
This year, the crypto community has been optimistic, expecting a positive turn with a Bitcoin rally in December. According to Google Trends data, current market sentiments indicate a growing interest in the "Bitcoin Santa rally."
In early November, interest in BTC and the "Bitcoin Santa rally" shot up to 92 out of 100 points, then tumbled to zero. Later on, this indicator rose again to 80 points. On November 20, searches for this term peaked at 100 points, reaching the highest level possible.
