CandleFocus Bitcoin’s aggressive $100K rise will bring out the ‘Holiday Effect’
2024-12-06
Author: Content Editor
Bitcoin crossed the $100k milestone on December 4, driven by increased institutional demand and strong buying activity from the US. This surge in price coincides with the holiday season, which could amplify market euphoria due to the "Holiday Effect." Research has shown that returns are generally higher during the holidays, and this phenomenon could potentially push Bitcoin's price even higher before the end of 2024. Retail demand for Bitcoin has also been increasing, with retail investments potentially being backed by institutional trust. While the surge in retail participation may signal a short-term peak, it also indicates a growing number of people getting involved in the market, which can boost overall market activity. The key factor to watch is how retail and institutional investors interact, as it is crucial for long-term adoption. The crossing of the $100k mark is seen as a significant milestone and a psychological breakthrough for Bitcoin.
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