{"id":388865,"date":"2019-07-05T20:00:23","date_gmt":"2019-07-05T20:00:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=388865"},"modified":"2024-06-11T13:45:05","modified_gmt":"2024-06-11T13:45:05","slug":"bitcoin-price-fomo-fireworks-holidays","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-fomo-fireworks-holidays\/","title":{"rendered":"Research Shows That Holidays Cause FOMO Fireworks in Bitcoin Price Charts"},"content":{"rendered":"
Yesterday, on the United States holiday dubbed Independence Day, the price of Bitcoin fell from $12,000 to just over $11,000<\/a> from daily candle open to close, providing fireworks for traders who spent the day in front of price charts instead of being poolside at a barbecue sipping on a cold Budweiser.<\/p>\n However, in previous holidays, there\u2019s been a direct correlation between these key dates and massive increases in Bitcoin price<\/a>. New research provided by a cryptocurrency analytics firm sheds light into exactly which holidays Bitcoin has increased on, and explores some theories behind why holidays tend to cause FOMO in Bitcoin markets.<\/p>\n According to a new study<\/a> from self-proclaimed \u201cinstitution-grade\u201d crypto insights and analytics firm SFOX, their team of researchers spotted the pretty convincing correlation between holidays like Independence Day, Thanksgiving, and Christmas, often has with the first ever cryptocurrency, Bitcoin.<\/p>\n Related Reading | BTC and Gold Showing Correlated Moves, Will Bitcoin Price Rise From Here?\u00a0<\/a><\/strong><\/em><\/p>\n The firm shared their findings ahead of the Independence Day holiday, expecting Bitcoin to rise amidst increasing bullish sentiment across cryptocurrency markets in recent months. However, Bitcoin nosedived nearly $1,000 in the 24 hours of the United States birthday celebration.<\/p>\n But SFOX had plenty of reason to expect such a result from the holiday. Their research shows that many holidays in the past have caused Bitcoin to skyrocket.<\/p>\n <\/p>\n The best example of this was demonstrated during the 2017 cryptocurrency market bull run that capture the interest of the mainstream retail investing public, when the rally really began to take shape following Thanksgiving of that year<\/a>.<\/p>\nHolidays Show Direct Correlation in Bitcoin Price Increases, But Why?<\/h2>\n