{"id":363297,"date":"2018-11-22T01:00:58","date_gmt":"2018-11-22T01:00:58","guid":{"rendered":"https:\/\/ktsl888.com\/?p=363297"},"modified":"2019-03-11T20:47:52","modified_gmt":"2019-03-11T20:47:52","slug":"a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride\/","title":{"rendered":"A Bitcoin Thanksgiving: Looking Back on a Wild One-Year Ride"},"content":{"rendered":"

Last year, as early cryptocurrency adopters sat down to Thanksgiving dinner with their families, they spoke<\/a> of the newfound fortune they\u2019d earned from investing in the emerging asset class, and in particular Bitcoin. Since then, it has reached new all-time highs and set new one-year lows, and made a number of volatile price swings in between.<\/span><\/p>\n

Bitcoin Thanksgiving: One Year Ago<\/span><\/h2>\n

On November 23, 2017, Thanksgiving Day, Bitcoin\u2019s price was trading around $8,000 \u2013 up nearly double in value from the start of the prior month, when Bitcoin was trading in the low $4,000s.<\/span><\/p>\n

Exuberant over nearly doubling their money in a month and having witnessed a slow and steady increase throughout the year before the recent spike, investors shared stories of the wealth generated from meager initial investments as the emerging asset class provided exponential gains rapidly.<\/span><\/p>\n

Around the same time, Bitcoin, which was practically unheard of to the mainstream public, had begin making news headlines everywhere as people took notice of both its potential as an investment vehicle, and had become intrigued by the first-ever digital currency. <\/span><\/p>\n

General greed, the lure of untold fortunes, and the exuberant speculation of an understood and new asset class and the timing of dinner-table storytelling led to everyone and their grandmother scurrying to buy Bitcoin after Thanksgiving and throughout the holiday season into December.<\/span><\/p>\n

Retail investors, everyday Joe\u2019s looking to strike it rich, quickly bought into it without understanding the technology, the asset\u2019s potential, or how financial markets work. The fear of missing out (FOMO) led to eager investors buying their first ever investment or going “all in” on the new asset class.<\/span><\/p>\n

Weeks later, just before the Christmas holiday,\u00a0<\/span>Bitcoin reached its all-time high<\/a> of $20,000 on December 17, 2017.<\/span><\/p>\n

https:\/\/twitter.com\/mynameiscolton\/status\/83972353?ref_src=twsrc%5Etfw<\/p>\n

Related Reading:<\/strong> Bitcoin Falls Below $5,000 for the First Time in 2018 on Coinbase<\/a><\/em><\/p>\n

Bitcoin Thanksgiving: Today<\/span><\/h2>\n

Today, families everywhere will be celebrating Thanksgiving. However, almost none of them will be celebrating their Bitcoin-related wealth.<\/span><\/p>\n

Since the crypto asset broke its parabolic advance in December, it\u2019s repeatedly ping-ponged between strong support at $6,000 and decreasingly lower swing-highs. $6,000 had appeared to be unbreakable, and an end to the ongoing bear market \u2013 which has now lasted 11 months and climbing \u2013 appeared to be in sight.<\/span><\/p>\n

However, the unthinkable happened, and $6,000 has been broken after a civil war erupted<\/a> between two different BCH factions, which created a black swan-type event, sending Bitcoin prices through critical support and reaching new one-year lows of $4,250<\/a>.<\/span><\/p>\n

In one year, Bitcoin and cryptocurrency investors have been on a rollercoaster ride that many are just now jumping off of in panic. The cryptocurrency is now worth less than what it was one year ago, and more than 75% less than its value at its all-time high in December.<\/span><\/p>\n

This year, as loved ones pass the gravy boat to pour onto their mashed potatoes, stuffing, and turkey dinner, it’s likely they won\u2019t be passing on any investment advice, and even more likely that any discussion around Bitcoin will be in stark contrast to the conversations had one year prior.<\/span><\/p>\n

Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"

Last year, as early cryptocurrency adopters sat down to Thanksgiving dinner with their families, they spoke of the newfound fortune they\u2019d earned from investing in the emerging asset class, and in particular Bitcoin. Since then, it has reached new all-time highs and set new one-year lows, and made a number of volatile price swings in between. Bitcoin Thanksgiving: One Year Ago On November 23, 2017, Thanksgiving Day, Bitcoin\u2019s price was trading around $8,000 \u2013 up nearly double in value from the start of the prior month, when Bitcoin was trading in the low $4,000s. Exuberant over nearly doubling their money in a month and having witnessed a slow and steady increase throughout the year before the recent spike, investors shared stories of the wealth generated from meager initial investments as the emerging asset class provided exponential gains rapidly. Around the same time, Bitcoin, which was practically unheard of to the mainstream public, had begin making news headlines everywhere as people took notice of both its potential as an investment vehicle, and had become intrigued by the first-ever digital currency. General greed, the lure of untold fortunes, and the exuberant speculation of an understood and new asset class and the timing of dinner-table storytelling led to everyone and their grandmother scurrying to buy Bitcoin after Thanksgiving and throughout the holiday season into December. Retail investors, everyday Joe\u2019s looking to strike it rich, quickly bought into it without understanding the technology, the asset\u2019s potential, or how financial markets work. The fear of missing out (FOMO) led to eager investors buying their first ever investment or going “all in” on the new asset class. Weeks later, just before the Christmas holiday,\u00a0Bitcoin reached its all-time high of $20,000 on December 17, 2017. https:\/\/twitter.com\/mynameiscolton\/status\/83972353?ref_src=twsrc%5Etfw Related Reading: Bitcoin Falls Below $5,000 for the First Time in 2018 on Coinbase Bitcoin Thanksgiving: Today Today, families everywhere will be celebrating Thanksgiving. However, almost none of them will be celebrating their Bitcoin-related wealth. Since the crypto asset broke its parabolic advance in December, it\u2019s repeatedly ping-ponged between strong support at $6,000 and decreasingly lower swing-highs. $6,000 had appeared to be unbreakable, and an end to the ongoing bear market \u2013 which has now lasted 11 months and climbing \u2013 appeared to be in sight. However, the unthinkable happened, and $6,000 has been broken after a civil war erupted between two different BCH factions, which created a black swan-type event, sending Bitcoin prices through critical support and reaching new one-year lows of $4,250. In one year, Bitcoin and cryptocurrency investors have been on a rollercoaster ride that many are just now jumping off of in panic. The cryptocurrency is now worth less than what it was one year ago, and more than 75% less than its value at its all-time high in December. This year, as loved ones pass the gravy boat to pour onto their mashed potatoes, stuffing, and turkey dinner, it’s likely they won\u2019t be passing on any investment advice, and even more likely that any discussion around Bitcoin will be in stark contrast to the conversations had one year prior. Featured image from Shutterstock.<\/p>\n","protected":false},"author":517,"featured_media":363329,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,9859],"class_list":["post-363297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-thanksgiving"],"acf":[],"yoast_head":"\nA Bitcoin Thanksgiving: Looking Back on a Wild One-Year Ride<\/title>\n<meta name=\"description\" content=\"Since Thanksgiving, Bitcoin has reached new all-time highs and set new one-year lows, and made a number of volatile price swings in between.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"A Bitcoin Thanksgiving: Looking Back on a Wild One-Year Ride","url":"http:\/\/ktsl888.com\/news\/a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/11\/Bitcoin-Thanksgiving.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/11\/Bitcoin-Thanksgiving.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","thanksgiving"],"dateCreated":"2018-11-22T01:00:58Z","datePublished":"2018-11-22T01:00:58Z","dateModified":"2019-03-11T20:47:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"A Bitcoin Thanksgiving: Looking Back on a Wild One-Year Ride\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/a-bitcoin-thanksgiving-looking-back-on-a-wild-one-year-ride\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/Bitcoin-Thanksgiving.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/Bitcoin-Thanksgiving.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"thanksgiving\"],\"dateCreated\":\"2018-11-22T01:00:58Z\",\"datePublished\":\"2018-11-22T01:00:58Z\",\"dateModified\":\"2019-03-11T20:47:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/11\/Bitcoin-Thanksgiving.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/363297"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=363297"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/363297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/363329"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=363297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=363297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=363297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}