Posted 11/2/2023, 11:01:00 AM
Bitcoin Price Could Hit $56K by Year's End If 'Santa Rally' Repeats
- Bitcoin could rise to $56,000 by end of 2022 based on historical Santa Rally patterns according to Matrixport
- Bitcoin tends to peak around Dec 18, with the Nov to mid-Dec period being a Santa Rally
- Bitcoin is up 114% YTD, which historically has led to further 65% gains by Dec 31
- Factors like ETF hopes, peak tightening speculation, and haven demand driving Bitcoin’s gains
- Past performance doesn’t guarantee future results, but bullish 2024 halving improves odds