An interesting report from crypto data aggregator Coingecko analyst Lim Yu Qian states that crypto markets have experienced a Santa Claus rally effect eight times in the last ten years.
Santa Claus Rally is the joyful mood and market activity during the last five trading days of the year and the first two days of the new year. According to research by Coingecko, from December 27 to January 2, the total cryptocurrency market capitalization increased from 2014% to 2023% between 0,69 and 11,87.
There have only been five rallies before Christmas in the same decade. In the week before Christmas, from December 19 to 25, the market's gains ranged from 0,15% to 11,56%. However, there have been significant declines, most notably in 2017, when the cryptocurrency market lost ground due to the ICO crash ( ICO 12,12%.
Over the last decade Bitcoin (BTC) marked the arrival of Catholic Christmas with growth seven times, ranging from 0,20% to 13,19%. After Christmas Bitcoin showed positive dynamics five times, with growth from 0,33% to 10,86%. The biggest drop occurred before Christmas 2017, when Bitcoin fell by 21,30%.
Coingecko’s analysis also highlights the years when crypto markets rallied before and after Christmas. This holiday double has only happened three times in the last decade — in 2016, 2018, and 2023. In 2016, the total crypto market cap grew 11,56% before Christmas and 10,56% after. In 2018, the gains were more modest — 1,31% and 4,53%, while 2023 saw a 4,05% gain before Christmas and 3,64% after Christmas.
Data from Coingecko shows that cryptocurrency market performance has been a rollercoaster ride throughout December, with some big highs and some big lows.
