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TagsHow did the US holidays in 2017 affect the price of Bitcoin and other cryptocurrencies?
Moha MouhaDec 29, 2021 · 3 years ago1 answersCan you explain how the holidays in the United States during 2017 had an impact on the price of Bitcoin and other cryptocurrencies? What were the specific effects observed during that time?
1 answers
- At BYDFi, we observed that the US holidays in 2017 had a noticeable effect on the price of Bitcoin and other cryptocurrencies. During major holidays like Christmas and Thanksgiving, trading volumes were lower, resulting in decreased liquidity and increased price volatility. However, it's worth noting that the impact of holidays on cryptocurrency prices is not solely determined by US holidays. Global events, market sentiment, and regulatory developments also play a significant role. It's essential for traders and investors to stay informed and adapt their strategies accordingly during holiday periods.Dec 29, 2021 · 3 years ago
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