Crypto analyst says market bullish for Santa Claus rally
From thestreet.com
Though the crypto market has so far failed to recover from the shock of the October crash, a leading analyst thinks the current setup looks bullish for a Santa Claus rally. A widely believed phenomenon in traditional markets, a Santa Claus rally is a calendar effect in which stock prices rise during the last five trading days in December around Christmas and the first two trading days in the following January. The phenomenon, driven by year-end optimism and portfolio rebalancing, is also extended to the digital assets market. In the crypto market, reduced exchange liquidity, year-end tax positioning, and renewed risk ...
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