Bitcoin price history during Eid al-Fitr

[arjunmujay]

previously I wished Muslims a happy Eid al-Fitr 1445H on this forum. May blessings continue to accompany us all.

This commemoration is an important moment for Muslims, and because of that I have a little data on bitcoin price movements from year to year during the Eid al-Fitr celebration.



From the data above, it shows that prices will see a correction in 2022 and 2023 due to the corona virus pandemic. Meanwhile, in 2024 and coinciding with the halving period, I assume the closing price will be $ 69.3288.xx. Based on this data, I can speculate that in 2025, during the Idul Fitri celebration, the price of Bitcoin could reach $173,220.xx if we assume a 150% price increase.

what do you think? is it still relevant?

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[hugeblack]

There is no correlation, as the Arab and Islamic months are based on the lunar calendar, which differs by about 10 days from the solar calendar aka Gregorian calendar. Therefore, it will always be like setting a variable date and checking the price of Bitcoin. You will not find any correlation, especially in the short term. Bitcoin price changes have always been linked to the four-year cycle, and even this is used to measure the price in the long term.

[AVE5]

I'll just assume that this is one of the usual personal bitcoin price prediction because if you ask me, I'd say bitcoin doesn't have a degree interjection with the Islamic calendar.
Let's just hold upon today 10-04-2024 bitcoin price as prescribed by the Op, it's unfortunate that you'd never fall in an exact value of bitcoin price because with how much I've been monitoring on the market cap, the price of bitcoin hasn't been stabled but on the usual fluctuations.
Maybe you can tell what the exact value will be tomorrow and then you could get me convinced that the Islamic calendar is effectively influential over the price of bitcoin.

[Helena Yu]

From the data above, it shows that prices will see a correction in 2022 and 2023 due to the corona virus pandemic.

Covid pandemic happen in 2019-2020, 2021 is transition, while 2022 and 2023 is already fine.

Based on this data, I can speculate that in 2025, during the Idul Fitri celebration, the price of Bitcoin could reach $173,220.xx if we assume a 150% price increase.

You can speculate like that because of halving event, not Eid al-Fitr.

Stop for trying to correlate something that doesn't have any correlation at all, it's non sense.

Correlating Elon Musk's tweet or Whales' transactions to Bitcoin price is more make sense than Eid al-Fitr.

[kentrolla]

Eid ul fitr greetings to all the Muslims in the forum.

Now let's get back to the post I don't think there is any corrections hence let's avoid trying to relate something without any valid logic. This year it's not due to halving and moreover we can no longer speculate anything or draw conclusions to anything based on historic data because this time Bitcoin has proved the historic data as invalid by going against it.

[Winterfrost]

From the data above, it shows that prices will see a correction in 2022 and 2023 due to the corona virus pandemic. Meanwhile, in 2024 and coinciding with the halving period, I assume the closing price will be $ 69.3288.xx. Based on this data, I can speculate that in 2025, during the Idul Fitri celebration, the price of Bitcoin could reach $173,220.xx if we assume a 150% price increase.

what do you think? is it still relevant?

Bitcoin price movement isn't influenced by seasons and celebration like what's obtainable with fiat. If fiat was as volatile as Bitcoin, then attempting to analyse a price history of fiat during festive seasons like the Eid el fitr would have made much sense but if you're looking at price movement of Bitcoin, you should have at least pointed out some reason that possibly suggest it will reach $173220 in year 2025.

We know about indices that are considered before making a speculation on the price movement of Bitcoin during th halving but if thier isn't an attempt to explain why during a festive season thier might be a similar price movement for multiple of years, th n such speculation is baseless and mere statement that's not going to hold ground.

[bestcoins1]

From the data above, it shows that prices will see a correction in 2022 and 2023 due to the corona virus pandemic. Meanwhile, in 2024 and coinciding with the halving period, I assume the closing price will be $ 69.3288.xx. Based on this data, I can speculate that in 2025, during the Idul Fitri celebration, the price of Bitcoin could reach $173,220.xx if we assume a 150% price increase.

what do you think? is it still relevant?

It seems that it is starting to be less relevant now after seeing how Bitcoin reached ATH before the halving which has never happened in the past when the halving period occurred. And if you make the assumption of a price increase of that size at a percentage level of 150%, of course this looks more reasonable, but you and all of us here also need to realize that the correction that will occur in 2022 and 2023 is not entirely due to the effects of coronavirus pandemic.

However, the price increase that occurred in Bitcoin at the beginning of this year could be said to be due to the influence of the ETF approval on Bitcoin, which made the price spike so stable and sharp. And in the past, or more precisely in 2022 and 2023, the ETF has not made any agreement on Bitcoin so your assumptions and speculation about the Bitcoin price that will be seen in 2025 are a little less relevant, mate. This is caused by a different moment that has never happened before in Bitcoin, but has happened this year.

[Hamphser]

There is no correlation, as the Arab and Islamic months are based on the lunar calendar, which differs by about 10 days from the solar calendar aka Gregorian calendar. Therefore, it will always be like setting a variable date and checking the price of Bitcoin. You will not find any correlation, especially in the short term. Bitcoin price changes have always been linked to the four-year cycle, and even this is used to measure the price in the long term.

Why they do really always love on trying out to connect everything to Bitcoins price even on this Eid al-Fitr event or whatever we do have. Well, its not really that a bad thing because any sentiments could really be connected but its true and i do really that agree on what you have said that this is really something that having no correlation or connection no matter what. Even into those past events or dates will really be having no assurance that it would really be making on the same effect or having that impact anytime specially with these events. We've seen price isnt really that moving that much.
Come in mind that even on an ordinary day which Bitcoins price could drop in huge percentage without even knowing on whats the real reason behind it.

This is why this market is always been that unpredictable. This is why its not shocking that people has always have to say. 

[Plaguedeath]

@OP you're wrong, it's not due to Eid al-Fitr, but it's due to:

April 10
NATIONAL ERASE SELF-NEGATIVITY DAY | April 10
NATIONAL FARM ANIMALS DAY  April 10
NATIONAL CINNAMON CRESCENT ROLL DAY  April 10
NATIONAL SIBLINGS DAY  April 10
NATIONAL YOUNG WRITER DAY  April 10

[arjunmujay]

You will not find any correlation, especially in the short term. Bitcoin price changes have always been linked to the four-year cycle, and even this is used to measure the price in the long term.

Yes, that's true, and everyone already knows that the most appropriate Bitcoin measurement is actually from halving to halving. However, what I explained above is the condition for annual short-term investments just before Eid al-Fitr.
That's because in my country especially, during this celebration there is an annual salary allowance that comes out. and can be invested in bitcoin for the following year. and I assume with the halving conditions that are currently occurring.

Let's just hold upon today 10-04-2024 bitcoin price as prescribed by the Op, it's unfortunate that you'd never fall in an exact value of bitcoin price because with how much I've been monitoring on the market cap, the price of bitcoin hasn't been stabled but on the usual fluctuations.

just a personal assumption of today's closing price of bitcoin. and yes, no one knows for sure the price of bitcoin. All are just predictions because what determines is market demand for Bitcoin.

[Dave1]

There is no correlation, as the Arab and Islamic months are based on the lunar calendar, which differs by about 10 days from the solar calendar aka Gregorian calendar. Therefore, it will always be like setting a variable date and checking the price of Bitcoin. You will not find any correlation, especially in the short term. Bitcoin price changes have always been linked to the four-year cycle, and even this is used to measure the price in the long term.

Why they do really always love on trying out to connect everything to Bitcoins price even on this Eid al-Fitr event or whatever we do have. Well, its not really that a bad thing because any sentiments could really be connected but its true and i do really that agree on what you have said that this is really something that having no correlation or connection no matter what. Even into those past events or dates will really be having no assurance that it would really be making on the same effect or having that impact anytime specially with these events. We've seen price isnt really that moving that much.
Come in mind that even on an ordinary day which Bitcoins price could drop in huge percentage without even knowing on whats the real reason behind it.

This is why this market is always been that unpredictable. This is why its not shocking that people has always have to say. 

And that's what I notice too, what I vividly remember is the Chinese Lunar year, maybe it's 2018-2019 that others correlate this festivities and says that the market is going to bounce back because at that time, the price is going down as we are experiencing the bear market already.

Lo and behold, after that, the price didn't go up the way people are expecting. And on the contrary, the prices continuously goes on a downward spiral. So we might conclude that there is no correlation whatsoever. Investors and traders are going to buy (and sell) whenever they want, simply as that.

[Asiska02]

There is no correlation, as the Arab and Islamic months are based on the lunar calendar, which differs by about 10 days from the solar calendar aka Gregorian calendar. Therefore, it will always be like setting a variable date and checking the price of Bitcoin. You will not find any correlation, especially in the short term. Bitcoin price changes have always been linked to the four-year cycle, and even this is used to measure the price in the long term.

The difference in the days is already a clear sign that the Arab calendar or the day of the Eid Il Fitr celebration cannot give accurate answers to what the OP is trying to speculate on. Since it is a speculation, we would have assumed that it might coincide but checking from the all time/years predictive value of bitcoin, it has always followed a definite cycle and just only the actual price that cannot be determined but a range can be actualised within that timeframe. Eid Il Fitr day should not be used as it won’t give the actual results in the long run.

[Popkon6]

Every year during this Eid-ul-Fitr Eid celebration, the price of Bitcoin increased a lot. But I hope Bitcoin will definitely make my maximum during Eid celebration of this halving year 2024. Because according to Bitcoin price perception, the possibility of a market downturn is very low at the moment. So the Bitcoin price is definitely more likely to rise for this Eid-ul-Fitr at present.

[Coyster]

Every year during this Eid-ul-Fitr Eid celebration, the price of Bitcoin increased a lot.

Are you sure about that? There is no connection between Bitcoin price and the Eid celebration, i know people like to look for connections in everything, "Bitcoin price rose because of this or fell because of that", i know that it is events that influence the price of Bitcoin, but historically the Eid celebration has never been one to concern the price of Bitcoin.

[btc_angela]

Every year during this Eid-ul-Fitr Eid celebration, the price of Bitcoin increased a lot.

Are you sure about that? There is no connection between Bitcoin price and the Eid celebration, i know people like to look for connections in everything, "Bitcoin price rose because of this or fell because of that", i know that it is events that influence the price of Bitcoin, but historically the Eid celebration has never been one to concern the price of Bitcoin.

True, it's not every Eid-ul-Fitr Eid celebration = price increase in Bitcoin, it's just total coincidence if we see one. Or there is no connections as we have said. Experience traders knows that and maybe they just take advantage of this kind of situations as there could be investors who believed in it.

And unfortunately, there is no holiday either in the Christian or Muslim or even Chinese celebration that can accurately predict the price whether it will go up during that time or not. Market is already big to be able to control by some sect or religions or whatever whales and connection and pattern we can see.

[tabas]

what do you think? is it still relevant?

IMHO, if it's come to these events. There's no relevance or need for us to compare it with the past prices. Happy Eid to our muslim friends but I don't see any significance of the event and the price of Bitcoin. While having the data and providing it is good but that just ends there. We can have the comparison on how much Bitcoin was for the past and the current ones but looking forward to the actual price that we're seeing is caused by the major event that we're having actually for Bitcoin like the halving, btc spot etfs.