Technical indicators show that bitcoin is difficult to get out of the "Christmas market", the coin price may continue to fluctuate slightly

"From a historical data perspective, such a signal from the MACD signals a possible increase in the probability of bitcoin rising over the Christmas period." John Iadeluca, founder of Banz Capital, a multi-strategy investment fund, believes there is some truth to the comments issued by Katie Stockton.

MACD refers to the Moving Average of Divergence, a technical indicator that combines multiple moving averages to provide "buy" and "sell" signals.

Cryptocurrency investor and analyst Scott Melker also had some thoughts on the "Christmas market" for bitcoin, using technical indicators other than the MACD to make his assessment.

He said, "Currently, bitcoin is fluctuating in the $42,000 to $53,000 range, and unless bitcoin can break above $53,000 and turn that point into support, you can expect bitcoin to fluctuate in that range over Christmas and for some time thereafter."