Bitcoin: Christmas rally imminent?

The memorable fall of FTX unquestionably affected the crypto market. Even today, the fallout from this collapse echoes. And not just within crypto companies! The whole crypto community is concerned. As the Christmas and New Year holidays approach, predictions are rife that there will be a Bitcoin rally this year. Opinions are indeed very divided, as are the various analyzes on the subject.

The bitcoin situation could evolve quickly, according to Kaléo

Opinion 1: Bitcoin Rally 2022, an imminent event

In recent weeks, predictions about the value of bitcoin have been increasing. Even though opinions are extremely divided, analysts agree on one point: the price of bitcoin will inevitably fall below $15,500.

For some (like Hamilton, Bluntz or even Kaleo), the 2022 BTC Christmas Rally is a whole different story. Based on impressive charts, they indeed claim that the Bitcoin rally will indeed take place this year. Even better, they predict an imminent explosion in connection with the upcoming Christmas holidays and the arrival of the holidays.

According to Kaleo, the bitcoin price will be valued at $17,500 and will increase to $18,500 in the coming days. “One of the most impressive charts is the Bitcoin hash rate. After more than a month of BTC trading below $20,000, there has been no real miner capitulation yet. he explained (attaching a graphic image to his statements).

Bitcoin hash rate.  Source: Kaleo
Bitcoin hash rate Source: Kaleo

Advisory: Santa’s rally unlikely this year

For others, it is unlikely that a Bitcoin rally will take place over the Christmas and New Year holidays. The reason is simple: the liquidity and volatility regimes of one of the largest crypto companies have remained weak.

Bitcoin futures market volumes are currently experiencing significant drops. The same is true for cash transactions. Only $67 million is recorded, compared to $1.4 billion previously. And for the time being, nothing seems to indicate a possible bullish trend in the crypto market.

At the time of writing, Bitcoin is trading at $16,829. Will its hash rate remain at a high level as some predict or will it inevitably face another major meltdown? We’ll find out soon enough…

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