The network effect will be amplified during the holidays, leading to a rally

niothor

hero member

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in defi we trust

Quote from: kireinaha on December 06, 2013, 11:19:34 AM

Wasn't that supposed to happen already for Thanksgiving? Instead the price dropped immediately after, probably in part because investors were convinced by family and friends to cash out and secure some profits. I don't see Christmas/New Year's being a boost for bitcoin either, given that we seem to be in a bear market now.

I too see people cashing out before Christmas.
People will want to spend those bitcoins and there are nearly not enough options for gifts or holiday trips in bitcoins.

kireinaha

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Wasn't that supposed to happen already for Thanksgiving? Instead the price dropped immediately after, probably in part because investors were convinced by family and friends to cash out and secure some profits. I don't see Christmas/New Year's being a boost for bitcoin either, given that we seem to be in a bear market now.

fred1111

full member

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Tech values who get a lot of press in the media seem to get a boost january. Bitcoin will be no exception. I think that's because people listen to their friends and relatives, not to the media when it comes to investments.

Apparently there is a Wikipedia article about this too: http://en.wikipedia.org/wiki/January_effect

Because of ID verification delay, the january effect might last longer

Topic: The network effect will be amplified during the holidays, leading to a rally (Read 603 times)