This will take a while. I'll include a TL;DR at the end. I'd also like to note before I start, this should be taken very lightly, and should an update not come out, please don't blame me!

As many CS:GO players know, an update was released December 8th. This update included the R8 Revolver and rifle nerfs. It also included gift packages from years past. When these gift packages are given to another player, the name of the gifter shows up for everyone in the game. Before this update, this was a year-round event. Since many 3rd party websites were abusing this, Valve has stated these messages will no longer be displayed after a certain date. What date, you ask? January 15, 2016.

Now, with that out of the way I'd like to move on to the theory of a large update. January 15th is actually a Friday... but not for the NA region. It's a Thursday until 5 AM UTC. Why does this matter? ALL Operation updates have been released on a Tuesday or Thursday. So far, the Operations have come out like this:

Thu, Thu, Thu, Tue, Tue, Tue

I've been playing CS:GO since September 1, 2014. I unfortunately didn't get to see the release for Breakout, but I did for Vanguard and Bloodhound. We'll look at Bloodhound right now. I remember the post by /u/wickedplayer494. An early update warning post. People were getting on the hype train. This was around 4:30 PM. We waited and waited. Nothing. Then, around 8 PM, wickedplayer494 made the post. "MAJOR Counter-Strike: Global Offensive update!" Why does this matter? 8 PM would have been 2 AM in Europe (Daylight Savings Time was in effect). The date in Europe wasn't May 26. It was May 27. A Wednesday. But, that's not a Friday!!! Why does this matter?!?! Well, Valve might throw back to a Thursday Operation schedule.

Who knows, though? It's Valve's decision to release the update for the Operation when they want to. They might not even release any updates at all. There might just be a hard code to kill the advertising board in game, and we'll still have to wait for new maps. I'd still like to see what you all have to say. If there is a new Operation, are you going to buy the pass? What do you want to see in the next Operation? I know it took long, and thanks for the people who read the whole thing. Took a while to type all this out.

TL;DR: Based on Valve's previous update schedule, there might be a new Operation on January 14th, 2016 in North America, or January 15th, 2016 in Europe/Asia.