Please allow me to ask again: Will we ever see a Santa Rally on the streets?
Kaiko’s analysts believe there’s still a chance. However, they think that it is not worth getting too excited for Bitcoin to reach $120,000 at the end of this year (sad).
Below, the data on options looks positive for a December bullish finale. The calls are more than the puts.
Analysts think any rally could spread to other coins, giving them a boost.
“Any upcoming rallies will likely be much broader than last year. Since the election smaller layer-1 coins have been outperforming BTC and ETH as traders repricing risk amid regulatory shifts in the US,” Analysts wrote.
Santa Rallies that we may see will not necessarily follow the tradition of the event (which is to say, they won’t always take place between the final five days in the previous year and the first two of the next year). It’s only fair that Santa and the elves do not have to put in too many extra hours for all of our bags.
It’s a confirmation of what analysts have been saying about crypto. They expect it to be strong at the start of 2019. Both Daniel Matuszewski, of CMS Holdings, and Roshun Patel from Hack were optimistic in the Empire podcast this week.
Patel believes that ETFs could see a big inflow in January. However, he expects the seasonality of ETFs to become a major factor as we approach summer.
“I think as you go into March or May, you can maybe think a little bit more about portfolio rebalancing, but for now it’s like. It feels pretty healthy,” He told Jason Yanowitz.
Matuszewski, on the other hand said altcoins may have a market cycle similar to the ones we’ve experienced in the past. But he is still expecting “crazy swings” Memecoins, AI chatbots tokens or other similar things. If I were to be honest, if memecoins or AI chatbots didn’t have volatility I would probably be even more concerned.
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