As we approach the holiday season, the cryptocurrency world is abuzz with anticipation for the annual “Santa rally.” This festive period often brings about shifts in market dynamics. This year, several factors are poised to impact the final months of 2023.
In recent years, cryptocurrency prices experienced significant spikes as 2020 and 2021 drew to a close. These surges were attributed to growing investor optimism and a surge in institutional interest. Leading financial institutions and hedge funds began to perceive Bitcoin (BTC) not only as a speculative asset but as a hedge against inflation and a potential store of value. Companies of substantial magnitude, including Square and MicroStrategy, bolstered this perception by adding significant Bitcoin holdings to their balance sheets. This shift in image was noteworthy.
