Bitcoin's Market Performance During the Christmas Period

[ChiBitCTy]

I’m actually surprised to find that on most Christmases there’s actually been a downturn instead of and up tick. I would think since the topic of bitcoin tends to come up a lot during family Christmas get together, that more people would be buying based off that, but as you point out that’s typically not such the case. I wonder how January tends to perform ..

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[DapanasFruit]

The holiday season is usually the time when the crypto market can be doing some decrease in activities and also the time when a good number of people may turn their crypto holdings into cash...hence Bitcoin is inclined to be bearish though we still have to see the final number for 2023 since there are still remaining days of the year but what I understand is that this year Bitcoin is actually not doing so bad and it is due to the excitement coming from the offing ETF approval and the halving in 2024.

[deathcode]

The holiday season is usually the time when the crypto market can be doing some decrease in activities and also the time when a good number of people may turn their crypto holdings into cash...hence Bitcoin is inclined to be bearish though we still have to see the final number for 2023 since there are still remaining days of the year but what I understand is that this year Bitcoin is actually not doing so bad and it is due to the excitement coming from the offing ETF approval and the halving in 2024.

Bitcoin is still quite strong at the moment. Maybe what you say is true because of some of the news you mentioned. and not many holders are releasing their Bitcoins for holiday purposes.
but the impact of high transaction fees may also influence some holders not to sell their Bitcoins. especially those who hold Bitcoins in their wallets and have to send them to an exchange, as that requires quite high fees.

[Smack That Ace]

The holiday season is usually the time when the crypto market can be doing some decrease in activities and also the time when a good number of people may turn their crypto holdings into cash...hence Bitcoin is inclined to be bearish though we still have to see the final number for 2023 since there are still remaining days of the year but what I understand is that this year Bitcoin is actually not doing so bad and it is due to the excitement coming from the offing ETF approval and the halving in 2024.

Bitcoin is still quite strong at the moment. Maybe what you say is true because of some of the news you mentioned. and not many holders are releasing their Bitcoins for holiday purposes.
but the impact of high transaction fees may also influence some holders not to sell their Bitcoins. especially those who hold Bitcoins in their wallets and have to send them to an exchange, as that requires quite high fees.

The reasons you both give make sense for bitcoin's price movement in recent days, but we shouldn't be too surprised when things don't move as usual. Because the future is unpredictable and we cannot expect history to always repeat itself exactly. The demand for bitcoin is different each year so there will be different movements, it doesn't have to be close to major holidays or at the end of the year people will always sell their bitcoins for cash. Especially when the Halving is coming closer than ever and selling bitcoin at this time is very sensitive and risky. I think everyone knows this, so a lot of people didn't sell their bitcoins over the past Christmases, and I also believe they won't sell their bitcoins as we head into the new year.

[kotajikikox]

Bitcoin's market performance during the Christmas period over the past several years has been as follows:

- 2022: Decrease of 2.7%
- 2021: Decrease of 11.9%
- 2020: Increase of 22.3%
- 2019: Decrease of 1.1%
- 2018: Decrease of 5.3%
- 2017: Increase of 4.1%

not bad performance for the past Decembers but what we have now is different because we are nearing closing the year it has a good run and still running good so maybe this year will be different from those passed Decembers and the good indications that History not just repeating itself.

[bayu7adi]

But a more important point is Bitcoin halving will happen in April 2024, even if SEC. refuse all Bitcoin Spot ETF applications, 4 more months will be enough for Bitcoin to recover.

Honestly, I'm skeptical about a recovery during the halving. Looking back at last year, Bitcoin had this super exciting bull run about a year after the halving. Yeah, it might take some more time before we see Bitcoin heading to the moon.

I'm still unsure about the ETF, so in the near future, Bitcoin might experience a bit of a price shake-up. It could go bearish, maybe down to around $40k or even $38k (worst-case scenario). This isn't really a prediction, but gearing up for the worst-case scenario isn't a bad idea.

Imo, short-term = hard to promise, cause ETF
mid-term = looks a bit favorable for the Bitcoin market due to the halving,
long run = I still believe in Bitcoin,

[radjie]

The holiday season is usually the time when the crypto market can be doing some decrease in activities and also the time when a good number of people may turn their crypto holdings into cash...hence Bitcoin is inclined to be bearish though we still have to see the final number for 2023 since there are still remaining days of the year but what I understand is that this year Bitcoin is actually not doing so bad and it is due to the excitement coming from the offing ETF approval and the halving in 2024.

Bitcoin is still quite strong at the moment. Maybe what you say is true because of some of the news you mentioned. and not many holders are releasing their Bitcoins for holiday purposes.
but the impact of high transaction fees may also influence some holders not to sell their Bitcoins. especially those who hold Bitcoins in their wallets and have to send them to an exchange, as that requires quite high fees.

Looking at market price movements this year, it doesn't seem too bad for Bitcoin, even though most people think that many people need cash during the Christmas and New Year holidays, but with the news about the Bitcoin halving in 2024, most people assume that Bitcoin will  The price has increased so that the option to store Bitcoin is increasingly being implemented nowadays, some are even using it to increase their investment assets in Bitcoin.

[kryptqnick]

I agree with those asking the op to share more information about the calculations. While it makes sense that some people cash out near Christmas because they want to buy presents for their families and friends, there are very different ways to calculate the price increase/decrease. If it's a 24-hour change, I think it's way too short. If it's a 7-day change, that's a different story. But let's also not forget that in many countries the New Year is a bigger holiday than Christmas, so perhaps the whole period between Christmas and the New Year should count as a period of interest.
I also want to point out that while the op's results show a decrease in 4 out of 6 cases, only once the decrease is significant (in 2021). Minor decreases or increases don't really matter, in my opinion, because they happen all the time.

[Fara Chan]

Bitcoin's market performance during the Christmas period over the past several years has been as follows:

- 2022: Decrease of 2.7%
- 2021: Decrease of 11.9%
- 2020: Increase of 22.3%
- 2019: Decrease of 1.1%
- 2018: Decrease of 5.3%
- 2017: Increase of 4.1%

Performance like that can still be said to be good and very normal because Bitcoin is very different from other cryptocurrencies on the market so its performance is always different from the others. And now everyone can also see how it performs after Christmas because the improvement can still be seen even though it still hasn't surpassed the $45K price tag.

not bad performance for the past Decembers but what we have now is different because we are nearing closing the year it has a good run and still running good so maybe this year will be different from those passed Decembers and the good indications that History not just repeating itself.

Obviously that is not a bad performance and now this is also the case where Bitcoin's performance itself is still quite good and has not experienced a significant decline. And if a major increase still doesn't happen by the end of this year, perhaps the closing price for the year will still be at a little over $44K or still below $45K for Bitcoin.