Holiday seasons could be related to BTC price surge, could be more to come

08 Jul, 2019
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Holiday seasons could be related to BTC price surge, could be more to come

Cryptocurrency insights and analysis company SFOX has released a report stating that Bitcoin's price could be related to holiday seasons.

The report states that the biggest Bitcoin bull run that was seen in late 2017, was most likely related to people finding out about Bitcoin at Thanksgiving dinner. The report believes that most family members would enquire about Bitcoin and where to buy Bitcoin. 

While the holiday period may not be the only catalyst for pushing the price of Bitcoin up, it is considered one of a few factors that contribute to the price of Bitcoin.

"Traders pay attention to widespread retail interest as something that has the potential to impact the price of bitcoin" the report states. 

The report makes reference to thanksgiving, and the two week Spring Festival in China, both holidays saw Bitcoin price climb over their respective periods. SFOX believes that since Bitcoin is finally out of the bear market, there is a good chance Bitcoin could see more green as Western holidays are set to commence and families talk about Bitcoin again.

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Read more about: Bitcoin (BTC)

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