Bitcoin (BTC) has broken $25,000 on Dec. 26th as bullish momentum returned for Christmas, which is looking rosy for bulls.
At press time, the largest cryptocurrency circled $25,919 as volatility intensified, with all-time highs in sight at $25,039.36.
For some, such a move was expected, coming late in the year when Bitcoin tends to dominate over altcoins before a reversal takes place in January. Among adherents to this view is Markets analyst Michaël van de Poppe.
“Bitcoin dominance has been topping out in December in the past years. Every year it did,” he summarized on the day.
“The likelihood of this to repeat itself is significant, especially combining this with the current sentiment on altcoins. Bullish for Q1 2021.”
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