Topic: Bitcoin's Market Performance During the Christmas Period - page 2. (Read 264 times)
I'd rather give more weight to the prices of Bitcoin during Christmas days than the seven days following Christmas. Anything can happen within a week, but the view that is actually much wider is when you compare the prices of Bitcoin during Christmas days. That would be comparing annual prices of Bitcoin on a certain day of the year. It's more pleasing to the eyes and more suggestive of what to do with your Bitcoin. It teaches us to hodl long term because although there were Christmas days in the past in which the price has gone down, most of it is really about price appreciation. Comparing Christmas day prices gives us a lesson.
The chart below ignores the fact that the price changes dramatically over the four years, so the last 4 years have a greater impact on the price than the first 4 years. Therefore, if you notice, the beginning of the chart was in the form of a straight line, while all of them are in the form of a pyramid.
You are right about not full story from the chart on Bitcoin market growth over years but I think it does a good job to show Bitcoin price growth over years, even not with full details.It will be endless argument like even a monthly, yearly chart over years won't be enough to display full details. People can argue to have 1 minute chart to see more details but please don't think I am writing this to argue with you.
It is only to explain that the chart from BTC_Archive is good enough to give us a view with a big picture.
Something is more helpful but not full details about the market.
https://casebitcoin.com/charts#data_tables
A chart on X from BTC_Archive.
Think wider and bigger, think out of the Christmas Eve and Christmas Box, like look at Yearly candles will help you to have a merry Christmas and a happy new year, then you can hold your bitcoin and get profit after holidays.
The chart below ignores the fact that the price changes dramatically over the four years, so the last 4 years have a greater impact on the price than the first 4 years. Therefore, if you notice, the beginning of the chart was in the form of a straight line, while all of them are in the form of a pyramid.Think wider and bigger, think out of the Christmas Eve and Christmas Box, like look at Yearly candles will help you to have a merry Christmas and a happy new year, then you can hold your bitcoin and get profit after holidays.
But thanks for the data, it's pretty good and maybe it needs to provide a broader view and needs to have a certain classification every year, because for me every year in the bitcoin cycle is different, so it needs to be studied in determining conclusions.
The only benefit is the rapid growth of Bitcoin, which is starting to slow down.
Well, that's expected. People are spending their time with family instead of crypto trading. And a lot of people sell their coins to purchase gifts, I'm sure of it.
But in my opinion for Christmas this time it will only drop a few percent, because maybe the calculation you made is only for 7 days after Christmas, so not from the total month of December, and the results will be random, especially if you use data every year, this will look unfair because bitcon has a cycle, bearish and bullish which basically if at a bullish moment will get more price increases than decreases, and vice versa.
But thanks for the data, it's pretty good and maybe it needs to provide a broader view and needs to have a certain classification every year, because for me every year in the bitcoin cycle is different, so it needs to be studied in determining conclusions.
But thanks for the data, it's pretty good and maybe it needs to provide a broader view and needs to have a certain classification every year, because for me every year in the bitcoin cycle is different, so it needs to be studied in determining conclusions.
A chart on X from BTC_Archive.
Think wider and bigger, think out of the Christmas Eve and Christmas Box, like look at Yearly candles will help you to have a merry Christmas and a happy new year, then you can hold your bitcoin and get profit after holidays.
https://buybitcoinworldwide.com/stats/yearly-candles/
Think wider and bigger, think out of the Christmas Eve and Christmas Box, like look at Yearly candles will help you to have a merry Christmas and a happy new year, then you can hold your bitcoin and get profit after holidays.
https://buybitcoinworldwide.com/stats/yearly-candles/
Quote
🎄 Bitcoin Price on Christmas Day:
2010: $0.25
2011: $4.22
2012: $13.35
2013: $690
2014: $318
2015: $455
2016: $895
2017: $13,983
2018: $3,779
2019: $7,193
2020: $24,705
2021: $50,440
2022: $16,828
2023: $43,146
2010: $0.25
2011: $4.22
2012: $13.35
2013: $690
2014: $318
2015: $455
2016: $895
2017: $13,983
2018: $3,779
2019: $7,193
2020: $24,705
2021: $50,440
2022: $16,828
2023: $43,146
Tracking the price of Bitcoin in a narrow range, such as the Christmas period, and comparing it with the same period last year and previous years, leads to the monitoring period being very selective, and therefore the results generated are random, or, at best, not recommended.
The minimum period should be 3 months, taking into account support and resistance levels and 4-year cycles.
The minimum period should be 3 months, taking into account support and resistance levels and 4-year cycles.
During time of weekends, holidays, there will be less orders in order books and market trading volume will be smaller. It gives whales good chances to manipulate the market.
I don't know they will dump the market around this Christmas and New Year holidays or will pump it, we soon will know.
Bitcoin Spot ETF applications soon will get a final decision from SEC in next 2 weeks. If they approve, Bitcoin will be pumped a lot but if they reject all Bitcoin Spot ETF applications, you know how the market will react.
But a more important point is Bitcoin halving will happen in April 2024, even if SEC. refuse all Bitcoin Spot ETF applications, 4 more months will be enough for Bitcoin to recover.
I don't know they will dump the market around this Christmas and New Year holidays or will pump it, we soon will know.
Bitcoin Spot ETF applications soon will get a final decision from SEC in next 2 weeks. If they approve, Bitcoin will be pumped a lot but if they reject all Bitcoin Spot ETF applications, you know how the market will react.
But a more important point is Bitcoin halving will happen in April 2024, even if SEC. refuse all Bitcoin Spot ETF applications, 4 more months will be enough for Bitcoin to recover.
Bitcoin's market performance during the Christmas period over the past several years has been as follows:
- 2022: Decrease of 2.7%
- 2021: Decrease of 11.9%
- 2020: Increase of 22.3%
- 2019: Decrease of 1.1%
- 2018: Decrease of 5.3%
- 2017: Increase of 4.1%
Since 2017, over the seven days following Christmas, the probability of a price decrease has been over 66%. This trend indicates a prevalent likelihood of a decline in Bitcoin's value during this particular period. It's noticeable that the market sentiment during Christmas for Bitcoin hasn't exhibited consistent bullish behavior, as evidenced by the majority of the years showing a decline in value or a relatively modest increase.
However, past performance is not indicative of future results, and various factors can influence Bitcoin's price movement beyond historical patterns.
- 2022: Decrease of 2.7%
- 2021: Decrease of 11.9%
- 2020: Increase of 22.3%
- 2019: Decrease of 1.1%
- 2018: Decrease of 5.3%
- 2017: Increase of 4.1%
Since 2017, over the seven days following Christmas, the probability of a price decrease has been over 66%. This trend indicates a prevalent likelihood of a decline in Bitcoin's value during this particular period. It's noticeable that the market sentiment during Christmas for Bitcoin hasn't exhibited consistent bullish behavior, as evidenced by the majority of the years showing a decline in value or a relatively modest increase.
However, past performance is not indicative of future results, and various factors can influence Bitcoin's price movement beyond historical patterns.
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