- Crypto has had a Christmas rally for eight of the last 10 years.
- However, analysts expect 2024 to provide a whooper.
A version of this story appeared in our The Roundup newsletter on December 13. Sign up here.
Glad Lucia! Eric here.
Analysts are predicting a massive crypto pump for Christmas.
And while Bitcoin looks set to rise as high as $200,000, a slew of altcoins are on the cusp of breaking new records, too.
Bitcoin’s record is “fuelling hopes among traders for a sustained altcoin season and a potential Santa Rally,” Coinstash co-founder Mena Theodorou said in a note this week.
Market watchers have reasons to be bullish: Donald Trump’s imminent presidency, falling interest rates, and growing institutional adoption.
And let’s not forget that crypto has rallied around Christmas in eight out of the last 10 years, according to CoinGecko.
So how high do analysts expect altcoins to go?
Ethereum should hit $5,000 at the start of 2025, liya Kalchev, an analyst at Nexo, told Liam Kelly.
Arthur Azizov, CEO of crypto payment provider B2BInPay, told Osato Avan-Nomayo that he expects Ripple-linked XRP to bridge the 32% gap between its current price and the next record at $3.40 before the end of the year.
Of course, nothing is ever certain in cryptoland.
For now though, things are looking rather jolly.
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