Will We Get a Santa Rally This Year?
We could all use one
Here we are at the start of the final two weeks of the year.
If you’re still reading this newsletter, congratulations. You’ve endured 50 weeks of pain. Not easy.
The good news is, Bitcoin is still hanging around the $16-17,000 mark. Despite all the sell off, fraud, fear, and general shenanigans of this last year, the world’s most successful digital asset has managed to hang onto significant value.
To put it another way, around this time two years ago, Bitcoin traded at just over $7,000. Those who jumped in around that time are still up bigtime.
So—will we get a Santa Claus rally in the next few days? If you’re unfamiliar with the term, a Santa Claus rally is a rise in prices (usually stocks) over the final five trading days of the year, and the first two trading days of the new year. Since 1950, the stock market has risen about 1.3% on average during this period. Sometimes the rally shows up; sometimes it doesn’t.
Will we get one for crypto this year?
Keep your eyes peeled.
Meanwhile:
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.