All across the United States, American Bitcoin investors are stepping away from their trading desks to celebrate.
In addition to celebrating the country’s independence, they can also celebrate the on average 268% ROI Bitcoin brings from holiday to holiday. Will the next 365 days in crypto market price action lead to even more financial independence for holders?
Will There Be Crypto Market Fireworks On The 4th of July?
Markets are cyclical and history, trends, and more often come back around. Certain seasonably is said to also exist in financial markets.
It’s where the phrase “sell in May and go away,” or “the Halloween effect” came from.
Related Reading | Research Shows That Holidays Cause FOMO Fireworks in Crypto Price Charts
Holidays themselves have shown to have a dramatic impact on Bitcoin price. Whether it’s the low liquidity on holidays due to traders being busy or chatter at the dinner table, the asset can react powerfully.
It was after Thanksgiving in 2017 that Bitcoin exploded from $10,000 to $20,000.
This weekend across the United States, American citizens will be celebrating the country’s birthday and independence as a new country. The 4th of July holiday is among the most celebrated in the States.
With Bitcoin price once again flirting with $10,000, with $20,000 a possible target, will we see fireworks this Independence Day?
Bitcoin BTCUSD Independence Day ROI Chart | Source: TradingView
Buying Bitcoin On Independence Day Results In Financial Freedom
According to a review of price action ranging from each Independence Day to the next, buying Bitcoin can bring financial independence.
Dating back a decade, on average, data shows that buying BTC on July 4 and holding it for a year results in an average return of 268%.
Data indicates that only three out of all years analyzed did Bitcoin decline year over year on July 4. All other times the first-ever cryptocurrency had a large return for saavy investors.
Related Reading | Data Shows Crypto More Likely To Pump Following Consolidation, 20% Move Anticipated
The day itself hasn’t resulted in anything notable in terms of volatility or trend changes. However, research shows that buying on July 4 is likely to reward investors.
Those considering celebrating Independence Day by buying BTC today may be celebrating financial freedom next year.
Credit: Source link