Bitcoin Buys on Christmas Day Have Been Historically Bullish

Bitcoin has been a bullish investment in four of the last six Decembers and negative the other two times. Currently, BTC is up 16.5% from this December’s opening price.  

December Bitcoin Stats

With taxes due in January, evaluation of gains and losses becomes imperative. Further, some might also be looking at opportunities to invest any after-tax profits. 

In the past, BTC bought on Christmas day has yielded positive annual returns five of the last six years. In fact, in 2016 and 2018, Christmas prices have been close to the bottom. 

The average return in December during the same period is 13.7%. While the data for 2017 is an outlier, excluding the gains of 2017. The mean is 8.6%. 

BTC is changing hands at $24,097, at press time, with a positive yield of 16.4%. 

The average last quarterly return since 2014 is 50%. This time BTC has already gained 118.1% with a week left for the year-end.

Bitcoin’s mean volatility in December in the last six years is 51.9%. Its volatility has dropped significantly since 2019; the current 30-day volatility is 3.46%

The average yearly gain in Bitcoin since 2014 is 225%. 

Currently, BTC price has increased by an equal percentage as the last six year’s mean, trading above its all-time highs of 2017. 

The above statistics rhymes with Bitcoin returns in 2015 and 2016, suggesting a repeat of 2017. However, the risk above all-time highs has raised the stakes for bulls. 

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article