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Economist Declares ‘Santa Rally’ on Bitcoin
Bitcoin has been on a tear recently, with its price surging to new heights amidst the holiday season’s cheer. In a surprising move, several prominent economists have declared a “Santa Rally” for the cryptocurrency, predicting that it may continue to rise in the coming days.
According to Tom Lee, a well-known economist and Bitcoin enthusiast, Bitcoin is expected to reach a staggering $250,000 by 2025. This prediction comes as a surprise given the current market conditions, but many are hopeful that this could be a turning point for the cryptocurrency’s growth.
The rally has been fueled largely by increased buying pressure from institutional investors and individual buyers alike. While it’s difficult to predict the future with certainty, economists say that the resilience of Bitcoin at critical levels gives some hope for the time being.
However, traders are advised to exercise caution in their expectations, given the absence of strong volume and ongoing market uncertainties.
Source: u.today
