RATE Group | Bitcoin price could be headed for a Merry Christmas, new report claims
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Bitcoin price could be headed for a Merry Christmas, new report claims

05 Dec Bitcoin price could be headed for a Merry Christmas, new report claims

Posted at 03:08h in Bitcoin News by

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If the price of Bitcoin is poised for a very merry Christmas, it won’t be FOMO driving the surge.

That’s according to a new report from cryptoprime dealer SFOX, which claims that trading data suggests that the price of Bitcoin tends to do better around US holidays.

For example, Bitcoin did quite well this year during the Independence Day, Labor Day and Thanksgiving holidays, spiking 14 percent, 5 percent and almost 21 percent, respectively, according to the report. And considering that we’re only three weeks away from Christmas, does that mean we’ll continue to see the price of Bitcoin climb up until jolly, old St. Nick shuffles down the chimney?

It’s “impossible to say with certainty” that the holidays themselves play any role in crypto price rebounds, SFOX admits, but the correlation is “consistent with crypto performance data that SFOX has observed over the last several holidays.”

The crypto exchange also notes that Bitcoin-related searches on Google tend to…

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