2024 has been the year of firsts. Bitcoin blitz through the $100k mark, which is now its support value and year-end speculations are bullish. “Santa Claus Rally” is being discussed and many predict this could make crypto even stronger. This article reveals the top 3 predictions for Santa Claus Rally in 2024.
Yale Hirch, the founder of Stock Trader’s Almanac, coined the term Santa Claus Rally, explaining that the festive mood of the people pumps stock values for 7 days after Christmas. What led to this rationale is that it has been true almost 80% of the time.
But the news from the financial front wasn’t green last year (2023) and the market didn’t experience any Christmas cheers. Things can change this year though, as the world is seeing the new, crypto-friendly president for the USA and the market has started to perform well overall.
While the Santa Claus rally is a wave that lifts all ships, and by that we mean all traditional and not traditional assets. Its impact on crypto can be much more profound. The mood around the digital currency space is bullish and even beginners have started to dive into crypto.
Bitcoin may continue to move up despite already making its mark by crossing the $100,000 threshold. New investors may arrive from the institutional front, giving BTC price the momentum it needs to reach a new high. Global adoption may also increase, as countries facing an inflation crisis, such as Argentina and Turkey, have already started to look at Bitcoin as a hedge. Add to that, President-Elect Trump’s pledge to create a National Bitcoin Reserve will also give BTC price a boost.
Overall, if BTC maintains its current momentum and experiences a parabolic price action in the last week of December 2024, it could reach $122,000 by the time it enters the new year.
Donald Trump’s election has boosted Bitcoin’s value, and it has generated a surge among Trump-themed tokens. TrumpCoin, a meme coin that was announced before the election and asked people to put their faith in a Republican president, still continues to gain favor among the crypto community. MAGA is another token trading in the green, with its current market cap above the $77 million mark.
The Santa Claus Rally could pump these tokens’ value. The same could be said about other Trump-themed tokens that may emerge within the next few days. Already classified as degen assets, the community won’t have any issue pumping their value.
Memecoin mania was a term that got popularized during the first quarter of 2023 shortly after Elon Musk changed X’s logo to a Doge. It was heralded by the arrival of Pepe. And this Christmas, you may see the same happening. Meme coins have continued to evolve from just being a meme coin to serious investment instruments, as evident by the introduction of meme coin indices by major financial institutions, such as VanEck.
However, the market is still very degen-forward, with people caring little about market fundamentals and willing to follow the next best meme. So, in this instance, a new meme coin arriving with an outlandish theme would be the perfect asset to rally. This surge could further increase the meme coins’ market capitalization, which has already crossed the $120 billion threshold.
The Santa Claus Rally, if it arrives, can potentially bring major changes in the crypto market dynamics. Therefore, timing is going to be the key here, and picking the right assets is essential. Since the rally will be short-lived, you should focus on short-term assets, meme coins following major trends, and ones that have a very degen-like attribute.
Take a look at social media and find which tokens are making the most buzz. We also recommend paying a visit to websites like Dextools or Birdseye. These often contain the list of top gainers and losers, and most of these assets tend to be short-lived meme coins that surge very quickly, even rising by 50x to 100x within a very short timeframe.
Risk assessment is key here, so be prepared to lose money if you want to play this “high-risk, high-reward game.” And diversify your meme coin investments; their cheap value makes this easy.
However, none of this can truly come to fruition if you don’t act quickly. That requires access to a crypto wallet that can help you rapidly manage tokens. The best wallet offering this perk right now is NOW Wallet.
NOW Wallet is a secure wallet, offering over 1,500 tokens, support for NFTs and a plethora of unique features allowing you to get on the rally properly. The wallet comes equipped with an in-wallet swaps and exchange module, which is powered by ChangeNOw instant crypto exchange. It enables fast, transparent, and low-barrier in-wallet swaps across 70+ blockchains without any registration or intrusive KYC.
However, one of the best perks that this platform has highlighted is fiat-to-crypto support. Enabled by third-party integrations like Guardarian, Simplex, and Transak, this feature makes NOW Wallet a versatile tool, allowing users to use fiat to buy crypto of their choice.
So if you are pressed for time, you can leverage your debit card or credit card, as well as Google/Apple Pay and bank transfers to buy the meme coins you want using this wallet. And since the wallet supports more than 60 currencies, it is much easier to capitalize on this Santa Claus rally.
Other features that NOW Wallet has to help users get into the rally include staking, which will enable you to generate passive gains on PoS tokens like tron, Solana, Binance Coin, and NOW Token.
Furthermore, access to dApps on Polygon, Ethereum, Binance Smart Chain and more through WalletConnect can help you engage in other financial activities such as borrowing or lending. On top of that, the platform’s cross platform availability will ensure that you won’t miss any day of this rally.
On top of that, NOW Wallet has also taken steps to address any issues during the rush to make the buy. Thanks to robust customer support, you will also be able to fix issues like making the wrong transactions or choosing the wrong tokens.
The Santa Claus Rally is an underplayed phenomena when traditional assets are considered, but cryptocurrencies, assets that are volatile by design, this is worth taking a look. Multiple meme coins have a chance to surge, bolstered by the renewed support Bitcoin has been getting, which makes this Christmas more special. This time, the Santa Claus Rally could bring even more gains than before. However, capitalizing on opportunities quickly is required, which is why using NOW Wallet is recommended.
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