Bitcoin Thanksgiving Day Data Reveals Peak Possible Within 30 Days

Today across the United States, the masses are celebrating the annual Thanksgiving holiday tradition. In the past, the holiday has acted as a catalyst for the final phase of the Bitcoin bull run. 
To celebrate the holiday and the ongoing cryptocurrency bull cycle, we are looking back at the history of Bitcoin price action over the years to try to predict what is to come next. 
Please Pass The Bitcoin
The tradition of Thanksgiving began in 1619, which celebrated the annual harvest ahead of colder winter months. Rather than allow crops to spoil, there was a large feast that sometimes lasted days. 
The tradition today is commonly centered around a turkey dinner, with stuffing, mashed potatoes, gravy, and pumpkin pie. Dinner table discussions range from tender to tense, depending on the family unit. 
Related Reading | 10 Bullish Monthly Bitcoin Price Charts To Start November
Such dinner table conversations in the past have possibly had an impact on Bitcoin and other cryptocurrencies, with the holiday always occurring near important culmination points in price cycles. 
To celebrate in a very NewsBTC way, we’ve taken a deep dive into the history of holiday and the effect it’s had on price action. The results are quite interesting, and something BTC holders might want to give thanks for. 

Past tops and bottoms have been within 48 days of Thanksgiving  | Source: BTCUSD on TradingView.com
Thanksgiving Proximity To Peaks Give Holders Something To Celebrate 
Dating back as far as the Bitcoin price index will run, we’ve added a pumpkin-colored vertical line to represent each Thanksgiving to the day. 
The proximity of Thanksgiving to important pivot points in Bitcoin market structure is undeniable. The holiday appears close to most major bull market peaks and bear troughs. 
In fact, five out of five major Bitcoin tops and bottoms have appeared within 48 days of Thanksgiving. Four out of five of these same tops and bottoms have occurred within 24 days of Thanksgiving. Finally, two out of five tops and bottoms appear to coincide with the holiday itself. 
Related Reading | Want To Learn Technical Analysis? Read The NewsBTC Trading Course
In 2017, Thanksgiving dinner table talk was less focused on “pass the gravy” and instead discussed “which coins to buy.” 24 days following Thanksgiving that year, Bitcoin rallied 150% from $8,000 to $20,000, putting in the bull market peak. The following Thanksgiving was within just 24 days to the bear market bottom.
24 days from today and 150% would put the top cryptocurrency by market cap at around $144,000 on approximately December 19, 2021. Currently, there is more data to suggest that this could happen again than information to suggest otherwise. Is this the type of harvest crypto holders should expect with the US holiday here? If that’s the case, the Thanksgiving theme is appropriate, as it will be the last major harvest before a very cold crypto winter. 
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com

Avatar

Related Articles

- Advertisement -

Latest Articles

bitcoin
Bitcoin (BTC) $ 16,997.75
ethereum
Ethereum (ETH) $ 1,273.69
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 291.62
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.399006
dogecoin
Dogecoin (DOGE) $ 0.102723
cardano
Cardano (ADA) $ 0.316202
matic-network
Polygon (MATIC) $ 0.925536
polkadot
Polkadot (DOT) $ 5.38
staked-ether
Lido Staked Ether (STETH) $ 1,259.82
okb
OKB (OKB) $ 22.07
litecoin
Litecoin (LTC) $ 77.38
shiba-inu
Shiba Inu (SHIB) $ 0.000009
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.054548
solana
Solana (SOL) $ 13.60
uniswap
Uniswap (UNI) $ 5.91
avalanche-2
Avalanche (AVAX) $ 12.99
chainlink
Chainlink (LINK) $ 7.64
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,966.57
leo-token
LEO Token (LEO) $ 3.87
cosmos
Cosmos Hub (ATOM) $ 10.28
ethereum-classic
Ethereum Classic (ETC) $ 19.95
the-open-network
The Open Network (TON) $ 1.79
monero
Monero (XMR) $ 142.64
stellar
Stellar (XLM) $ 0.088531
bitcoin-cash
Bitcoin Cash (BCH) $ 110.82
quant-network
Quant (QNT) $ 122.88
algorand
Algorand (ALGO) $ 0.242200
crypto-com-chain
Cronos (CRO) $ 0.065221
filecoin
Filecoin (FIL) $ 4.41
near
NEAR Protocol (NEAR) $ 1.72
apecoin
ApeCoin (APE) $ 3.89
vechain
VeChain (VET) $ 0.019136
hedera-hashgraph
Hedera (HBAR) $ 0.049975
flow
Flow (FLOW) $ 1.12
internet-computer
Internet Computer (ICP) $ 4.16
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.41
frax
Frax (FRAX) $ 0.999772
eos
EOS (EOS) $ 0.934657
terra-luna
Terra Luna Classic (LUNC) $ 0.000165
chain-2
Chain (XCN) $ 0.043790
theta-token
Theta Network (THETA) $ 0.936247
the-sandbox
The Sandbox (SAND) $ 0.587677
tezos
Tezos (XTZ) $ 1.01
aave
Aave (AAVE) $ 63.75
trust-wallet-token
Trust Wallet (TWT) $ 2.15
lido-dao
Lido DAO (LDO) $ 1.11