Christmas and Bitcoin

[The Sceptical Chymist]

Well Christmas does tend to bring out the worst in humanity.  Take notice of black Friday stompcrushes and the roadways next time you're out.  And who hasn't had family get-togethers such that Silk Road wouldn't have come in handy?  And yes, bonuses are given out too.  God I hate Christmas.

[randy8777]

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!

people change their predictions very often. one day they think the price will reach $500 easily before the end of this year. and the other day they think it will go back to below $400 to stay there till next year. i have seen so many people do this lately. they don't know what to say or think anymore.

[panju1]

Well Christmas does tend to bring out the worst in humanity.  Take notice of black Friday stompcrushes and the roadways next time you're out.  And who hasn't had family get-togethers such that Silk Road wouldn't have come in handy?  And yes, bonuses are given out too.  God I hate Christmas.

Christmas bonuses. That could be a reason for the higher prices too!
But I doubt if there are people investing that kind of money in Bitcoin. 

[Sturgeon]

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. 

I doubt with your story, look at december 2015, price of bitcoin get bullish at november 2015 and down at december 2015

[nydiacaskey01]

Maybe people started stacking up coins by November then start dumping them starting them Black Friday till Christmas season shopping.
Those buying season may have helped BTC rate to climb but not really a huge jump like we experienced last time when it reached $500

[thirdprize]

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

Yes.

Well, I recon that come January the price will go back into a slump.

[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?

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.

Ahh alright, thank you for clearing this up.
Does Silk road still exists?

[TravisNeko]

We will see if Santa Claus will give me 10BTC.
That would be a awesome gift in Christmas.

[TTMNewsMJ]

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

Yes you are absolutely right.
If many people will going to buy a lot of bitcoin then there is a possibility for everything.

[xynthgwyne]

Well I hope so since it's Christmas and it's time for spending and if based on the law of supply and demand, spending than buying can affect prices, more of like going down. Price is pumping up but now but let's hope this will continue.

[maokoto]

Probably is the block halving. We are coming nearer and nearer to that point, so there are ups and downs, with the downs ending at a higher price while we approach that.

Some people get scary when they see a price over 400 and begin to sell and that is why there are downs to, but the general trend is to go up.

[agustina2]

Probably is the block halving. We are coming nearer and nearer to that point, so there are ups and downs, with the downs ending at a higher price while we approach that.

Some people get scary when they see a price over 400 and begin to sell and that is why there are downs to, but the general trend is to go up.

Yes halving is the reason here and not Christmas. Big dump will happen really this Christmas but at the same time expect more pump because of the big dump price will decrease that others wait so many will still buy. One reason is the upcoming halving. Acquiring coins as much as it can because high price are expected next year.

[thirdprize]

Even people who don't know Btc know that the only thing you can really use it for is buying stuff off the dark net.  I bet you that even though SR 1 and 2 have been taken down, there are a dozen other sites there flogging illegal stuff.  That coupled with the fact it is christmas, the season of excess, means people are going to be out there partying hard. 

[Fademigo]

There was no price correlation between thanks giving and bitcoin. I think there will be no relation between Christmas and bitcoin.

[TERA]

[Cconvert2G36]

[bearex]

I also think it will follow the pattern. The price will up and down a little untill christmas, and then it will fall back to around $350. I think the top will be $550.

[QuintLeo]

The problem with assuming Christmas has anything to do with a Bitcoin price rise is that the retailers turn around and SELL OFF all that Christmas Bitcoin just as fast as it comes in, thus pushing the price right back down again.

 Ditto "Black Friday" or "Cyber Monday" just somewhat bigger numbers involved on BOTH sides of the equasion.


 It's WAY too early for the halfing to be having a real effect on the pricing IMO - more likely 1-2 months before the halfing will be the "halfing price increase".


 I'm fairly sure that most of the current price bouncing is due to the Chinese exchanges being able to take fiat currency directly again, and a mass influx of Chinese trading due to that change.

[avw1982]

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

Yes.

Well, I recon that come January the price will go back into a slump.

I don't think so Its dump again. As price increasing in consistent way. This price pump is happening because of festive season like christmas and new year. then people will sell bitcoin for expenses. So demand will be for bitcoin. thats the reason.

[Denker]

I also think it will follow the pattern. The price will up and down a little untill christmas, and then it will fall back to around $350. I think the top will be $550.

Let's assume this will happen.How long will we see another $350?
I think not that long and we will go up again pretty quick.
Many people will start to buy at this price I believe.
This would be also the second attempt which had failed to break the 500 constantly.
The third attempt after that will work out then.We saw the same with the 300 barrier.