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Crypto community expresses mood at the Christmas market: "No Santa Claus rally"

Published on

December 26, 2022
Read Time:2 Minute, 9 Second

Merchants wanting ahead to a Christmas rally have been disenchanted as markets proved resilient as many celebrated the vacation season. Members of the crypto neighborhood expressed their disappointment by sharing memes, with some even utilizing their creativity by way of poetry.

On Dec. 23, knowledge tracker Coinstats shared a picture exhibiting optimistic market motion and circulating the concept of ​​a doable "Santa Claus rally."

Is that this the beginning of the Santa Claus rally? pic.twitter.com/zf1WDNaGpm

— CoinStats (@CoinStats) December 23, 2022

Nevertheless, when Bitcoin's volatility index hit report lows on December 25, all ideas of a merry BTC Christmas rally have been dashed. Information from Cointelegraph Markets Professional confirmed the highest crypto hovering round $16,800 in the course of the vacation.

A parishioner pointed that the shortage of a rally this Christmas might be as a result of controversies surrounding centralized exchanges like FTX and Binance this yr. So as to add creativity to the combo, analytics device CMM shared poetry impressed by the FTX collapse, which concerned the corporate's former CEO Sam Bankman-Fried.

Roses are purple.
Your PNL is simply too.
Santa Claus is not coming tonight.
SBF additionally liquidated him.

— CMM (@CoinMarketMan) December 24, 2022

In the meantime one other neighborhood member implied The shortage of Christmas items might be as a result of Santa Claus has additionally been affected by the crypto dips. Then again, some Twitter customers expressed their frustration by sharing memes.

Thanks for the "Christmas Pump" Santa. pic.twitter.com/B6Q4O96kgw

— Mr. Backwards (@Coin_Shark) December 26, 2022

One shared a photograph of a cat giving a thumbs up whereas thanking Santa for the "Christmas pump" that did not occur. Different divided a photograph of a psychologist allegedly treating a crypto dealer as a result of he believes in a Santa Claus rally.

Associated: 4 “rising narratives” in crypto to be careful for: buying and selling firms

Whereas the crypto markets have been at a standstill, unhealthy actors throughout the house continued to function. In a current exploit, round $8 million in property have been compromised when hackers hijacked an APK of the BitKeep pockets. The staff urged its neighborhood members to switch their funds to wallets downloaded from official sources such because the Apple App Retailer or Google Play.

Aside from that, one other exploit was carried out by hackers related to North Korea's Lazarus Group. The attackers allegedly launched a broad-based phishing marketing campaign concentrating on non-fungible token (NFT) customers. The hackers launched round 500 phishing domains to lure their victims and steal their NFTs.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 26, 2022
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