A new report from crypto analytics site SFOX suggests bitcoin (BTC) could see a price hike on American Independence Day — July 4th.
In a July 3 blog post, SFOX analyzes the apparent impact that holidays can have during a crypto bull market, arguing that they appear to spark fresh FOMO — or fear of missing out:
“Thanksgiving of 2017 marked the beginning of bitcoin’s run-up from the low $8000’s to its peak of almost $20,000 on December 17th [...] in February of 2019 during the two week Spring Festival celebrated throughout China [...] the price to buy bitcoin climbed 14%, from $3419.17 to $3908.97, peaking at $4027.83 a few days later before deflating back to the $3750 level.”
Holiday-driven price fluctuations appear to be backed by Google Trends data for retail interest in bitcoin, SFOX notes, remarking that during the winter 2017 bull run, United States search volume for ‘bitcoin’ surged in the days immediately following both Christmas and New Year.
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