Christmas and Bitcoin

[thirdprize]

Here is my theory.  The first big Btc boom coincided with two things, christmas and Silk Road.  I am sure lots of people were getting ready to party and Btc just happened to be the easiest way to order stuff from SR.  SR gets busted and no real big booms again.  Now its in the lead up to christmas again and the price is going up again.  Coincidence?  There are probably dark net sites somewhere causing the boom. 

[HarryKPeters]

Nah don't think that. Silk road + mnt. gox pumped the price, there was no real innovation just air and rumours which made the price bump. Currently i has to do with the block halving I think.
Because again, there is no positive news...

[ronald98]

The price was pumped up after the Silk Road was busted, not before. The Silk Road bust made the news, then the USA held a meeting to decide whether to ban Bitcoin or not. After the meeting it announced it was not banning Bitcoin, and the price skyrocketed. The pump started literally straight after that announcement.

[HarHarHar9965]

Here is my theory.  The first big Btc boom coincided with two things, christmas and Silk Road.  I am sure lots of people were getting ready to party and Btc just happened to be the easiest way to order stuff from SR.  SR gets busted and no real big booms again.  Now its in the lead up to christmas again and the price is going up again.  Coincidence?  There are probably dark net sites somewhere causing the boom. 

Yeah we can see bump in the time of Christmas due to money need people who is on bitcoin they start to utilize the bitcoin. Then Price will automatically increase at that time.

[n2004al]

Here is my theory.  The first big Btc boom coincided with two things, christmas and Silk Road.  I am sure lots of people were getting ready to party and Btc just happened to be the easiest way to order stuff from SR.  SR gets busted and no real big booms again.  Now its in the lead up to christmas again and the price is going up again.  Coincidence?  There are probably dark net sites somewhere causing the boom. 

With much probability will go down. People will want to buy gifts for Christmas. The holders or owners (is the same) of bitcoin will want to do so too. They will try to use their bitcoins to buy presents but are very few the possibilities to buy Christmas or not typically Christmas (but yet) gifts and the only way that they have to have their gifts is to change those. This action will increase the supply and normally the price should go down. This is theory and cannot tell that it will   so for sure. For example the amount of bitcoin added to the market can be very few and not important (unable) to influence the price of bitcoin. Anyhow, the most big probability of the trend that could have the price of bitcoin for Christmas, would be more going down that going high.

[richardsNY]

We simply don't know exactly why the price is going up. The only thing we can do is make a rough guess. I personally think it's more due to the upcomming block halving. That's the most likely scenario.

[premium_domainer]

i thought it go low but reverse action is going on. Good for us

[MaxTax]

We simply don't know exactly why the price is going up. The only thing we can do is make a rough guess. I personally think it's more due to the upcomming block halving. That's the most likely scenario.

Yeah exactly we can only speculate about how we want it to go or how we think it will go.
I don't know what silk road is, anyone care to explain?

[richardsNY]

We simply don't know exactly why the price is going up. The only thing we can do is make a rough guess. I personally think it's more due to the upcomming block halving. That's the most likely scenario.

Yeah exactly we can only speculate about how we want it to go or how we think it will go.
I don't know what silk road is, anyone care to explain?

SilkRoad was a marketplace that people could only access via TOR. There you could buy all kind of things, drugs, weapons, pc parts, fake id's and so on. It was the first merchant that was solely operating with Bitcoin.

[Amph]

well in 2014 there was no pump at all, it could be because we were at 1200 previously, and there was an huge dump going on, or because the festivity does not imply increase in price

2012-2013 and this years seems different they brought a huge pump, 2016 could too because it has all the cards right to do so

[bitowl]

wasn't the major bubble in 2013 just because people were scared mtgox was never going to send them cash so they just hit market orders to convert to bitcoin regardless of price?

[Junko]

Too bad the Chinese don't celebrate the Christmas season being that only about 1% of them are Christian.

[tiggytomb]

Too bad the Chinese don't celebrate the Christmas season being that only about 1% of them are Christian.

Not to get into any religious discussion and hijack this thread, I don't really think nowadays Christmas as the holiday and spending your money to give people gifts is really just for the christians/catholics anymore it has now pretty much become the norm for every kid to expect something come this time of the year.

[Adrorecia]

I hope that bitcoin will increase so that I can buy in x-mas.
I am hoping for good deals.

[Junko]

Too bad the Chinese don't celebrate the Christmas season being that only about 1% of them are Christian.

Not to get into any religious discussion and hijack this thread, I don't really think nowadays Christmas as the holiday and spending your money to give people gifts is really just for the christians/catholics anymore it has now pretty much become the norm for every kid to expect something come this time of the year.

Is this really how it is in China? I only ask because I do not know.

I'm not looking to get in any religious discussion or hijack the thread either. I only brought up the Chinese (meaning the Chinese living in China) because of their btc volume and related it to the OP's topic of Christmas. Apologies to OP if he feels like I hijacked his thread. Was not my intention.

[mobnepal]

I don't think only christmas shopping will cause pump on price as the one who already have bitcoin spend bitcoin on christmas will not cause bump. We need extra money from outside to actually make price to rise. The block reward halving may have some good effect on price.

[Eric Cartman]

If people use their end of year bonuses to buy BTC then there is a chance, but nothing is warranted since people will buy things with BTC too

anything may happen

[teukon]

Now its in the lead up to christmas again and the price is going up again.  Coincidence?

Yes.

[ajareselde]

I believe people do tend to spend more on xmass, so it may bring the price up a bit, also; end of the year brings us to the year of the halving, and
some people may see this as a last chance to buy before the price starts it's increase caused by halving.
On another note, the price already moved up quite a bit, so there's a good chance that we will only see stabilization at current price, with no further increase.

[Mickeyb]

I was all of the times hearing arguments how Christmas brings the price down. Now in this thread I am hearing completely opposite! This is quite weird to me!

I guess that people explain things to themselves as they wish!