Does BTC have a Christmas market? Sorting out the data from the past 10 years will tell you

Next week Western countries will usher in the most important holiday of the year, Christmas, how will the future of BTC develop? (Synopsis: BTC has a Thanksgiving spell? Statistics in the past ten years, the probability of the currency price closing down is as high as 70%) (Background supplement: the reason for the surge in BTC? Japan's Central Bank is rumored not to raise interest rates in December! The yen fell sharply to a 3-week low) After hitting an all-time high of $106,660 yesterday, BTC regained its strength in the early morning of this (17th), reaching a maximum of $107,796, and then refreshing a new all-time high. At the moment of writing, a slight pullback was reported at $106,527, an increase of 1.03% in the past 24 hours. It is worth noting that next week Western countries will usher in the most important Christmas of the year (December 25), and there are concerns that with the arrival of Christmas, traders may sell cryptocurrencies such as BTC to cash out in order to reduce transactions and raise funds to celebrate the arrival of holidays and holidays, thus affecting the performance of cryptocurrencies. Let's take a look at the historical data of the past ten years, is the Christmas period a good thing or a bad thing for the BTC price? According to Coinglass data, in the past 10 years (2014-2023), BTC closed down 6 of the 10 Christmas, of which the largest decline occurred in 2018 at 5.58%; Of the 4 closing gains, 2020 saw the largest increase of 4.11%. Although from the historical data, BTC has a small chance of a large fluctuation on Christmas, but the statistics of the performance of BTC in December in the past decade can find that the probability of BTC closing is 50%, the smallest increase occurred in 2015, 13.83%, and the largest increase is as high as 46.92%; Among the five closing losses, the largest decline was 18.9% in 2021 and the smallest was 3.59% in 2022. In general, the probability of rising or falling in December is half-fat, but if it closes, the increase is usually double-digit, and whether BTC can continue to rise in the last two weeks of the year, let's see. QCP Capital: Fed Intrerest Rate decision has little impact on BTC trend For BTC to hit a record high again, encryption investment institution QCP Capital also posted an analysis on its official Telegram channel yesterday, saying that the current market is still mainly driven by emotions, as MicroStrategy stocks are included in the Nasdaq 100 index. This means that the market will likely have more money flowing from U.S. stocks to BTC, a Favourable Information factor that supports BTC's price increase. Conversely, before Christmas, this week we will also have the last US Federal Reserve (Fed) Intrerest Rate decision of the year, and the market is currently widely believing that the Fed will continue to cut interest rates by 1 yard, QCP Capital commented: This week's Central Bank meeting does not seem to have a big impact on the cryptocurrency market, as BTC is currently mainly driven by market sentiment. While unlikely, BTC could rise further if the Fed and Chairman Powell take an extremely dovish stance. Glassnode: BTC's next target is $108,000 In addition, Glassnode co-founder @Negentropic also tweeted yesterday that BTC has closed above $100,000 for two consecutive weeks, and the next target will fall between $108,000 and $110,000. But if BTC pullbacks, $102,000 will be a key support level and an entry point for the next wave of gold. Bitcoin Breakout: New ATH! #BTC closes its 2nd consecutive week above $100k, smashing through $102k resistance (now support) and hitting $104k. Target: $108k-$110k. A $102k retest this week could be a golden entry before the next leg up!#Crypto #ATH pic.twitter.com/vb8JomcYy9 — Negentropic (@Negentropic_) December 16, 2024 Related stories Critical hit! BTC rose above $106,600, analysts are optimistic: Trump will rush to 120,000 magnesium when he takes office Viewpoint" BTC's final "reckless" cycle: BTC's value and price theory BTC cracked in two years? King of SPACs warns "Google quantum chip" to kill SHA-256; Adam Back cursed "Does BTC have a Christmas market?" Sorting out the data of the past 10 years to tell you〉This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".