CandleFocus Christmas lull? Major cryptos down as investors appear to be taking profits
2024-12-23
Author: Content Editor
Despite the approaching Christmas Eve, the crypto market is not showing signs of recovery. Bitcoin failed to stay above $100,000 and has been down 8.3% over the past week. Other high-cap coins like Ethereum and XRP have also experienced declines. Even meme coin Dogecoin and Solana have plummeted. The broader market is down 14% from its all-time high. However, historically, there has been a post-Christmas rally called the 'Santa Claus rally,' offering hope for investors. The chances of a rally this year depend on Bitcoin reclaiming the $100,000 mark. Bitcoin remains undervalued and experts predict it could reach $180,000 by Q1 2025. At the time of writing, Bitcoin was trading at $95,870.
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