After Bitcoin hit a record high of $106,660 yesterday, it once again gained momentum in the early hours of today (17th), with BTC reaching a high of $107,796, setting a new record high. At the time of writing, it slightly adjusted back to $106,527, with a 24-hour increase of 1.03%.
It is worth noting that next week, Western countries will usher in the most important Christmas of the year (December 25). Some people are worried that with the arrival of Christmas, traders may sell Bitcoin and other cryptocurrencies to cash out in order to reduce transactions and raise funds to celebrate the arrival of festivals and holidays, thereby affecting the performance of cryptocurrencies.
Let’s take a look at the historical data of the past ten years to see whether Christmas is a good or bad thing for Bitcoin prices?
Summary of Bitcoin’s performance during Christmas in the past ten years
According to Coinglass data, in the past 10 years (2014-2023), Bitcoin closed down 6 out of 10 Christmases, with the largest drop occurring in 2018, which was 5.58%; and among the 4 increases, the largest increase was in 2020, which was 4.11%.
After Bitcoin hit a record high of $106,660 yesterday, it once again gained momentum in the early hours of today (17th), with BTC reaching a high of $107,796, setting a new record high. At the time of writing, it slightly adjusted back to $106,527, with a 24-hour increase of 1.03%.
It is worth noting that next week, Western countries will usher in the most important Christmas of the year (December 25). Some people are worried that with the arrival of Christmas, traders may sell Bitcoin and other cryptocurrencies to cash out in order to reduce transactions and raise funds to celebrate the arrival of festivals and holidays, thereby affecting the performance of cryptocurrencies.
Let’s take a look at the historical data of the past ten years to see whether Christmas is a good or bad thing for Bitcoin prices?
Summary of Bitcoin’s performance during Christmas in the past ten years
According to Coinglass data, in the past 10 years (2014-2023), Bitcoin closed down 6 out of 10 Christmases, with the largest drop occurring in 2018, which was 5.58%; and among the 4 increases, the largest increase was in 2020, which was 4.11%.
After Bitcoin hit a record high of $106,660 yesterday, it once again gained momentum in the early hours of today (17th), with BTC reaching a high of $107,796, setting a new record high. At the time of writing, it slightly adjusted back to $106,527, with a 24-hour increase of 1.03%.
It is worth noting that next week, Western countries will usher in the most important Christmas of the year (December 25). Some people are worried that with the arrival of Christmas, traders may sell Bitcoin and other cryptocurrencies to cash out in order to reduce transactions and raise funds to celebrate the arrival of festivals and holidays, thereby affecting the performance of cryptocurrencies.
Let’s take a look at the historical data of the past ten years to see whether Christmas is a good or bad thing for Bitcoin prices?
Summary of Bitcoin’s performance during Christmas in the past ten years
According to Coinglass data, in the past 10 years (2014-2023), Bitcoin closed down 6 out of 10 Christmases, with the largest drop occurring in 2018, which was 5.58%; and among the 4 increases, the largest increase was in 2020, which was 4.11%.
Glassnode: Bitcoin’s next target is $108,000
In addition, Glassnode co-founder @Negentropic also tweeted yesterday that Bitcoin has closed above $100,000 for two consecutive weeks, and the next target will be between $108,000 and $110,000. But if Bitcoin pulls back, $102,000 will be a key support level and a golden entry point for the next wave of increases.