Bitcoin Thanksgiving Day data shows that possible high within 30 days


Today, the crowds across the United States celebrate the annual Thanksgiving holiday tradition. In the past, the holiday has acted as a catalyst for the final stage of the Bitcoin bull run.

To celebrate the holiday and the ongoing bull cycle of the cryptocurrency, we look back on the history of Bitcoin price actions over the years to try to predict what comes next.

Please hand over the bitcoin

The Thanksgiving tradition began in 1619 when the annual harvest was celebrated before the colder winter months. Instead of letting the harvest spoil, there was a great festival that sometimes lasted for days.

Today’s tradition usually revolves around a turkey meal with a filling, mashed potatoes, sauce, and pumpkin pie. The discussions at the dining table range from tender to tense, depending on the family unit.

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Such past table talks may have had an impact on Bitcoin and other cryptocurrencies, with the holiday always happening near key culminating points in price cycles.

To celebrate in a wholly NewsBTC way, we’ve gone deep into the history of the holiday and its impact on price action. The results are very interesting and something BTC owners might want to thank you for.

Bitcoin Thanksgiving Day data shows that possible high within 30 days

Past tops and bottoms have been within 48 days of Thanksgiving  | Source: BTCUSD on TradingView.com

Thanksgiving closeness to peaks gives the owners something to celebrate

As the Bitcoin price index goes back, we’ve added a pumpkin-colored vertical line to represent each Thanksgiving of the day.

Thanksgiving’s proximity to major pivots in the Bitcoin market structure is undeniable. The holiday appears to be near most of the major bull market spikes and bear lows.

In fact, within 48 days of Thanksgiving, five out of five major Bitcoin highs and lows have occurred. Four out of five of those highs and lows occurred within 24 days of Thanksgiving. After all, two out of five highs and lows seem to coincide with the holiday itself.

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In 2017, thanksgiving dinner conversations focused less on “the gravy” and instead on “what coins to buy”. 24 days after Thanksgiving this year, Bitcoin rebounded 150% from $ 8,000 to $ 20,000, topping the bull market. The following Thanksgiving hit the bottom of the bear market in just 24 days.

24 days from today and 150% would put the top cryptocurrency by market capitalization at around $ 144,000 on around December 19, 2021. Currently, there is more data to suggest that this could happen again than there is information to suggest otherwise. Is This The Kind Of Harvest Crypto Holders Who Should Be Expecting On The U.S. Holiday Here? If so, the Thanksgiving theme is appropriate as it will be the last big harvest before a very cold crypto winter.

follow @TonySpilotroBTC on Twitter or participate the TonyTradesBTC telegram for exclusive daily market insights and training on technical analysis. Please Note: The content is educational and should not be viewed as investment advice.

Featured image from iStockPhoto, Charts from TradingView.com



Bitcoin Thanksgiving Day data shows that possible high within 30 days

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