Summary
- Analyst James Van Straten diagnosed that the traditional Santa rally for Bitcoin is difficult to expect this year.
- BTC had a tendency to rise slightly in the 51st and 52nd weeks, but has shown a downward trend in recent years.
- It was reported that BTC fell by 3.67% as of the 21st.
James Van Straten, an analyst at CryptoSlate, stated in a CoinDesk article on the 20th (local time) that "while there are many voices expecting a Santa rally, the rate of increase in Bitcoin (BTC) prices is gradually declining."
He continued, "BTC has been recorded to rise by about 2.8% in the 51st week each year, but this week it is expected to close down by about 11%." He further analyzed, "While there was a tendency to rise by about 3% in the 52nd week, in five of the last six years, it has declined, so there is not much hope this time either."
Furthermore, he explained, "The recent situation reminds me of the end of 2020 when the decline at the beginning of the year was significant in 2021."
Meanwhile, BTC is trading at $96,587.40, down 3.67% from the previous day as of 00:21 on the 21st, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
