Bitcoin Price Prediction as Analyst Says ‘Santa Claus Squeee’ Will Shoot Prices Higher – Time to Buy?
Bitcoin’s recent slip below the $35,000 threshold marks a pause in its latest bull run, but the market’s optimism doesn’t seem to wane, as the Fear & Greed Index hovers at a confident 73. This pullback has not dampened the broader positive market mood, with the trajectory for Bitcoin and its digital brethren still pointing north.
Amidst these market dynamics, the Bank of England’s move to bring widely-used stablecoins under regulatory oversight, with the Financial Conduct Authority (FCA) helming the crypto industry’s supervision, is a significant stride towards the cryptocurrency sector’s maturation and integration into the established financial system.
BREAKING:
Bank of England proposes allowing crypto stable coins as a payment option for goods and services. pic.twitter.com/E43JGUHijw
— Bitcoin Scoop (@bitcoin_scoop) November 6, 2023
This backdrop sets the stage for the market’s anticipation of the ‘Santa Claus Squeeze,’ a bullish event that analysts believe could propel Bitcoin’s prices to new heights, presenting a potential investment inflection point.
It’s worth noting that the approaching year-end could potentially trigger a substantial increase in digital assets, as suggested by Markus Thielen, the Head of Crypto Research at Matrixport.
His report indicates that historically, Bitcoin has experienced a 23% surge in the period leading up to Christmas during November and December.
Furthermore, the higher-risk cryptocurrencies have outperformed Bitcoin, hinting at the possibility of a holiday rally.
'Santa Claus squeeze' coming to gift crypto gains this Christmas, analyst says
— Bradicoin (@Bradicoin10) November 7, 2023
Meanwhile, Thielen highlights three significant events indicating a possible end to interest rate peaks, which
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