7% Bitcoin price hike for Christmas

Bitcoin price hike for Christmas

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Christmas is an extraordinary time of year that heavily influences the world of cryptocurrencies. Recently, there was a 7 percent Bitcoin price hike, just because traders and hodlers felt merry, and became more active on exchanges. 

Bitcoin price hike

The value of the most famous cryptocurrency out there has been experiencing some worrying crashes over the past few months.

Thanks to the Christmas spirit and hype, Bitcoin has witnessed a significant price hike of over 7 percent to reach USD 7,528 per coin. What is even better is, analysts predict that this hike will continue, as BTC is holding steady around the USD 7,500 mark.

Bitcoin Price Hike

Source: Cryptopolitan

Traders from all over the world are predicting that BTC will break the USD 7,800 mark, after a long session of price drops over the past week. Among them is Amsterdam Trader Michaël van de Poppe:

Christmas Hype

This rise in value is a great Christmas present for Bitcoin enthusiasts globally. The main reason behind the Bitcoin price hike is, of course, the jolly mood that engulfs the world around this time of the year. 

However, analysts warn that despite the hopefull surge BTC is experiencing during the holiday season, new lows might be expected at the beginning of 2020. While traders will be able to enjoy rising prices during Christmas and New Year celebrations, with the beginning of the new decade, new price drops should be expected. 

Hopefully, 2020 will be a better year for Bitcoin and cryptocurrencies in general, as the industry is gaining recognition and acceptance on a global level.

Featured Image by Pixabay

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Tina Yordanova

Back from her stint with European Central Bank, Morgan Stanley, Barclays, Societe Generale, Hilton Hotels, and Aviva International, Tina rejoins Cryptopolitan with a deeper insight regarding the financial world, blockchain enterprises and institutions and practices involved in it. She is eager to share her rounded perspective honed from the biggest media analysis companies on the Balkans.

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