Bitcoin Price Down; Christmas Weighs on Volume
The Christmas period is traditionally pretty subdued across the financial asset markets, and bitcoin is no exception to this rule. Low participation rates weigh on volume, and make it difficult to form any real intraday bias as a result. With low volume comes spikes, and with spikes come breakouts, however, so just because participation might be low, there’s no reason we can’t draw a profit from any action. Financial markets across the globe reopened yesterday (albeit not for a full week with New Years coming up on Friday) and its time to get back into our bitcoin price watch strategy. So,....
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The day after Christmas saw quite a slide in the price of Bitcoin as it slid to a low of USD $415 early Saturday morning. A massive selloff in CNY pushed the digital currency’s value down 10% over the 24-hour chart within roughly 8 hours and has currently remained steady at $425 at press time (December 26, 2015). Volume in China has remained quite....
Today’s bitcoin price has remained stable at the US$430 margin, after showing a significant decline against the US Dollars prior to Christmas, on December 24. Over the past two days, the bitcoin price continued a positive trend, as trading volumes of prominent exchanges including OKCoin and BitFinex recovered from their recent decline during the Christmas season. According to OKCoin’s most recent update, the exchange’s daily trading volume (24 Hour Volume) recorded around 17,500 bitcoins, which is worth near US$7 million at the time of writing. Financial experts reasoned the recent decline....
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With Bitcoin price well over $20,000, chances are the cryptocurrency will be a topic during holiday dinner table discussions once again this year. Investors in “digital gold” in 2020 are especially merry right now, after a 500% rally from yearly lows. Data taken from each Christmas Eve to the next shows that it isn’t just holiday cheer that is spreading, and that wallets holding 1 BTC or more have reached their highest level historically. Christmas […]