Shortly before Christmas, Bitcoin (BTC) and some of the others best chips in the market they increased in value At the beginning of Christmas Eve, the price of Bitcoin was less than $ 4,000 USD, but at Christmas it came to $ 4,250 USD.
This so-called Santa Rally is famous in traditional equity markets because many professional traders and fund managers end their operations because they are ready to take a few days off at the end of the year, so retail investors generally become optimistic over time and prices go up. It is also said that the new year's optimism also has an effect on this.
However, the Santa Rally did not last for anything. Bitcoin fell on Christmas Day and basically returned to its old value. C & # 39; it is something that is even worse, though, the futures of the Bitcoin ECM should expire and this will adversely affect the market.
The end of futures contracts
It is widely debated whether the contracts that are ending today will really leave any lasting effect on the market. In some recent months, they have not influenced so much, but in November they have been affected a little more.
Despite the end of the contracts, the scrambled are still in red. Bitcoin has been down 3.5% in the last 24 hours and XRP has fallen by 4.5%. Bitcoin Cash is the biggest loser of the day today with 10.47% less from this time frame.
The Santa Claus Rally never happened and now the prospects for the end of the year are not great. Bitcoin could (and probably will) return in 2019, but nobody is sure that this return will be done soon. Indeed, it is more likely that prices will continue to fall further for a while rather than rising quickly, unfortunately.