Story by: Nick Chong
Bitcoin to Top $9,000 By End of January?
Without fail, the first week of every January over the past three years has seen the price of Bitcoin explode higher, as noted by trader SalsaTekila. in 2017, BTC gained 21.9% during the first seven days of the year; in 2018, it was 24.3%; and last year, it was 11.8%.
The same pattern playing out for Bitcoin yet again could mean that the asset will surge towards the $8,000s and $9,000s.
While this positive directionality for January may seem to be a simple coincidence, it is known there are be end-of-year sell-offs in financial markets due to tax write-offs (search up “The January Effect”), not to mention that cryptocurrency exchange SFOX found that Bitcoin’s directionality is generally positive in and around holidays.
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