Is Santa coming to town this year? The Santa Claus rally is mystical phenomena that sees the S&P 500 increase in the last 5 days of trading in the year and the first 2 days days the following year. While this occurs more often than not, it is hard to predict Santa's movements.
What does this mean for crypto traders?
When it comes to the Santa Claus rally, we are generally talking about stocks. However, there has been a historical relationship when Santa has comes to bless stocks. In the past, we have seen crytocurrencies see a visit from Santa as well.
This year may not see Santa.
Stocks had a great November. With such a good month close to December, there are doubts that there is more room to rise. The same can be said for crypto. Bitcoin and others saw a huge rise. Can there be any more room for crypto to rise this year?
Santa may still be coming.
There is still a case for a Santa Claus rally. The Feds just announced a predicted three interest rate cuts for 2024. The news is a welcomed sigh of relief. Traders may see good reasons to make moves in 2023 in anticipation of 2024. The increase in activity may just cause Santa to bring an uptick in crypto prices in the last days of 2023.
Here Comes Santa... or Maybe Not
By Decentralized Bank | The Bank | 16 Dec 2023
How do you rate this article?
8
Decentralized Bank
building a better world https://www.instagram.com/decentralizedbank
The Bank
New perspectives and foundational basics. Thoughts on building a better world.
Send a $0.01 microtip in crypto to the author, and earn yourself as you read!
% to author / 80% to me.We pay the tips from our rewards pool.