Christmas holidays are usually less busy both for investors and market makers. However, it seems this is not the case for crypto traders as they revealed there has been a highly intense Christmas holiday session. Crypto trading desks have been unusually busy, as Bitcoin keeps breaking new highs almost daily.
Over the past years, the traditional crypto market has not been as busy as the present market during the Christmas period.
The trading volume for Wintermute has hit $1 billion as B2C2 was extremely active. However, crypto traders are even expecting a more intense trading session by the turn of the year.
The past few days have seen the world’s biggest crypto desks working overtime to meet the high trading and transaction demands in the market.
Bitcoin and other cryptos surge
The Christmas period has indeed favored the cryptocurrency market, as Bitcoin and other altcoins broke new grounds during the week leading to the festive holiday. Bitcoin has already crossed the $20,000 mark. It even went as high as $28,000 before shrinking a bit in a small correction.
But what the market shows is even more interesting. It’s not showing any signs of slowing down, which is why many observers think the intensity in the market will continue until January.
The high intensity in the market is caused by none other than the bullish market movement of almost all cryptocurrencies, except XRP. XRP’s fall is linked to the pending SEC lawsuit against Ripple, and not related to market indices.
An action-packed week
However, there are several reasons why investors and traders don’t want to leave the market yet. The pending Brexit by December 31 is one reason why the market is in an expectant mood. As the crypto market continues to move in the bullish direction, the market will be interesting by the turn of the year.
It was an action-filled 2nd last week of the year, as there were major headlines in the traditional crypto market. The $900 billion US stimulus is said to have n impact on the cryptocurrency market. This is particularly interesting news in the crypto market because it can signal a further rise of crypto assets when traditional funds are pumped into the market.
As a result of these events, market experts believe the crypto market is going to be busier throughout the remainder of the year and at least a greater part of January.