Bitcoin Thanksgiving data shows that it may peak in 30 days

All over the United States today, people are celebrating the annual Thanksgiving tradition.In the past, the holidays acted as a catalyst The final stage of the Bitcoin bull market.

To celebrate the holidays and the ongoing cryptocurrency bull market cycle, we reviewed the history of Bitcoin price movements over the years, trying to predict what will happen next.

Please pass bitcoin

tradition of Thanksgiving began in 1619, To celebrate the annual harvest before the cold winter. Instead of spoiling the crops, it is better to hold a large feast that sometimes lasts for several days.

Today’s tradition usually centers on turkey dinners, including fillings, mashed potatoes, gravy, and pumpkin pie. The table discussion varies from gentle to tense, depending on the family unit.

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In the past, there may have been Impact on Bitcoin As with other cryptocurrencies, holidays always occur near important climax points in the price cycle.

To celebrate in a very NewsBTC way, we delved into the history of the holidays and their impact on price action. The results are very interesting, and BTC holders may want to thank them.

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

Thanksgiving is approaching the peak so that holders have something to celebrate

Going back to the running time of the Bitcoin price index, we added a pumpkin-colored vertical line to represent each Thanksgiving of the day.

It is undeniable that Thanksgiving is approaching an important fulcrum of the Bitcoin market structure. Holiday It seems to be close to most major bull market peaks and bear market troughs.

In fact, in the 48 days after Thanksgiving, five major Bitcoin tops and bottoms appeared. Four-fifths of these same tops and bottoms occurred within 24 days of Thanksgiving. Finally, the top and bottom of the two-fifths seem to coincide with the holiday itself.

Related Reading | Want to learn technical analysis?Read NewsBTC trading course

In 2017, the conversation at the Thanksgiving table no longer focused on “passing gravy”, but on “which coins to buy”. In the 24 days after Thanksgiving that year, Bitcoin rose from $8,000 to $20,000, a rise of 150%, and entered the peak of the bull market. The following Thanksgiving Day is only 24 days from the bottom of the bear market.

In 24 days from today, 150% will place the cryptocurrency with the highest market capitalization at around $144,000 on approximately December 19, 2021. At present, there is more data indicating that this situation may happen again than other information. Is this the type of cryptocurrency holders on the U.S. holiday should expect? If this is the case, the Thanksgiving theme is appropriate because it will be the last major harvest before the very cold crypto winter.

follow @TonySpilotroBTC on Twitter Or join TonyTradesBTC Telegram Exclusive daily market insight and technical analysis education. Please note: The content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com



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