Is Bitcoin Heading For A Santa Claus Rally As The Year Winds Down?

Is Bitcoin Heading For A Santa Claus Rally As The Year Winds Down?

Analysts weigh in on whether bitcoin is headed for a Santa Claus rally. 3d illustration Bitcoin prices have had an interesting several days, plunging over the weekend and then bouncing back above the $50, 000 level. Taking these recent movements into account, and considering that 2021 is coming to a close, several analysts have weighed in on whether the world's most prominent digital currency will experience a so-called Santa Claus rally, climbing during the last few weeks of this year and the start of the next one. Technical analyst Katie Stockton authored a weekly note, in which she stated that "The weekly MACD is on a 'sell' signal for the first time since April, increasing risk into year end, noting there's room to intermediate-term oversold territory." She was referring to the moving average convergence divergence (MACD), a technical indicator that incorporates multiple moving averages in order to provide "buy" and "sell" signals. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] John Iadeluca, founder & CEO of multi-strategy fund Banz Capital, responded to Stockton's observation. "In reference to historical data, yes, the