Christmas has come and gone and we are now just a few days short of saying goodbye to 2022 — a year that many cryptocurrency investors and traders would perhaps best like to forget.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
What Happened: Since it is possible to trade Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD during the holidays, it is pertinent to consider how to approach digital assets during the holiday season.
Benzinga discussed holiday cryptocurrency trading and the upcoming year with OANDA Senior Market Analyst Edward Moya and Amsterdam-based cryptocurrency trader Michaël van de Poppe.
Major Coins During Holidays: Moya said that Bitcoin’s performance will benefit from standard holiday trends but the likely focus will be on whether the U.S. Federal Reserve is nearly done with raising rates. On Ethereum and Dogecoin, Moya said, “Ethereum will eventually trade on technological adoption but for now it will follow whatever cues Bitcoin takes from the broader markets.”
Dogecoin interest is “fading,” according to Moya but it could get a “boost if Musk follows through on plans to make dogecoin an accepted form of payment.”
“If Twitter does come out with their own wallet, that could be good news for dogecoin, but mainstream acceptance still seems unlikely.”
Expect the Unexpected: Van De Poppe has some advice on how to trade coins during the period of time when trading volume usually is on the lower side.
“The only expectations were given that Bitcoin would be trending south and go lower, while social media remains to be significantly negative across the board. That’s usually a good period to start investing into the actual asset,” said Van De Poppe.
However, Van De Poppe suggested inexperienced traders to avoid periods with volatility and when volumes are significantly low.
“Organic price action has often disappeared and that’s why you see those ‘chops’ taking place in which price moves sideways for days, after which it drops by a few percent in 1 minute and it goes back into…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
