The Santa clause rally seems to be factual and it would yield your portfolio with elephantine gains between the end of 2021 and the first quarter of the new year. With its everlasting monopoly Bitcoin remains a bigwig of the crypto realm. Indeed, it has undergone several supercycles this year with gigantic gains.
Whilst the flagship asset has been oppressed under a bearish incumbency for the past couple of weeks. Various factors gauge bullish divergence in the next couple of weeks. Notably, confidence in long-term holders, historical supply squeeze, and many other pointers are lately coming to the spotlight with bullish signs.
Bullish Alerts For Bitcoin Price Action!
Currently, the flagship asset’s desirous momentum in terms of on-chain metrics undeniably propounds that a rally above $50k in the next couple of days is factual. A crypto metric platform Cryptoquant confirms that the BTC supply squeeze on exchanges has taken the biggest divergence ever since November 2020. Usually, whenever such divergences play out, Bitcoin price rallies apace. Whilst during the similar supply squeezes in June and September, the dominant asset has rallied by 72% and 64% respectively.
On the other hand, whilst confidence and conviction of long-term holders poised for a swift upward move. A crypto analyst Dylan Leclair pinpoints the potential bullish divergence of the same. In his recent analysis, he emphasized the point of reserve risk plummeting to its crucial bottom line. Historically, whenever it has hit its bottom line, the asset has undergone subsequent bull cycles. Notably 72% and 64% surge in each of its previous supercycle. As protagonists and analysts are anticipating for biggest bullish divergence in the next couple of days, the asset would reiterate the historic movements.
Collectively, as the world is all set to welcome Christmas, the crypto space has been lauding for a grand Santa clause rally by this weekend. Meanwhile, along with Bitcoin, many other altcoin projects were hoping for massive cash-inflow in the next couple of days. As a whole, the next couple of days would play a decisive role with respect to the rally.