Mena Theodorou, co-founder of Coinstash, said in a report this week that bitcoin's record "has raised hopes among traders for a sustained and potential Christmas rally in the counterfeit products season", while cryptocurrencies have rallied around Christmas in eight of the past 10 years, according to CoinGecko. In addition, Nexo analyst Liya Kalchev forecasts that the price of Ethereum should reach $5,000 by early 2025.