RATE Group | Why Bitcoin Price Is Likely to Gain Momentum After New Year’s
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Why Bitcoin Price Is Likely to Gain Momentum After New Year’s

31 Dec Why Bitcoin Price Is Likely to Gain Momentum After New Year’s

Posted at 02:33h in Ethereum News by

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Could Bitcoin Rally After New Year’s Eve?

Last year’s holiday season wasn’t the best time for Bitcoin holders. For those who missed the memo, in November and December of 2018, the leading cryptocurrency tanked, falling off a proverbial cliff as investors capitulated, liquidating their BTC holdings in search of greener pastures. In fact, within a four week period, Bitcoin had entirely capitulated, losing half of its value faster than you could say “Satoshi Nakamoto.”

But, according to a recent analysis, the holiday season — or at least the next few days — will favor bulls.

Cryptocurrency analyst Joel recently posted the below chart, in which the historical price data of Bitcoin before, during, and after New Year’s was conveyed.

Joel’s analysis found that Bitcoin rallied by an average of 3% higher during 71.43% of the first weeks of January (January 2nd to the 7th), implying that there is a good historical likelihood that BTC could…

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