Guangdong, China -- (ReleaseWire) -- 12/26/2019 --It looks like the price of bitcoin is set to receive a seasonal boost over the coming weeks, according to new analysis of the cryptocurrency. According to official data collected from coinmarketcap.com, bitcoin has experienced positive market movements in the build-up to major US holidays in recent years.
In the run up to Thanksgiving last month, bitcoin climbed by 20 per cent over four days to buck a downward trend that had seen its price fall to its lowest level in six months.
On Labor Day in September, the price of bitcoin rose by around 5 per cent in a single day, followed by a further 4 per cent the next day.
Similarly, the Fourth of July holiday earlier this year resulted in significant gains for the cryptocurrency, with an increase of 14 per cent between 2 July and 4 July.
Apparently, holidays could theoretically contribute to upswings in bitcoin's price because of families getting together, experiencing FOMO [fear of missing out], and subsequently researching and purchasing bitcoin. However, the most recent data show Google searches for 'bitcoin' peaking before holidays, not after them.
A study in 2017 found that high search volumes for bitcoin-related terms like 'btc usd' often preceded price bubbles, while low engagement usually signaled a good time to buy. Data gathered by digital marketing firm SemRush noted an 80 per cent correlation between search volume and bitcoin's price, though no conclusions were drawn as to which was the determining factor.
Some analysts previously suggested that traders may be manipulating Google searches in order to artificially inflate the price of bitcoin. Whether organically or manipulated, it looks like the price of bitcoin will spike very soon.
Therefore, open an account at ZB.com. the safest digital asset exchange in the world,and start buying bitcoins during Christmas holiday.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group's flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world's largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world's first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea's Bithi.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open source their reports and analysis for the public.
Media contact
Company Name: ZB NETWORK TECHNOLOGY LIMITED.
Service: support@zb.com
Business: info@zb.com
Listing Cryptocurrency Request: listing@zb.cn
Law Enforcement: inforequests@zb.com
Website: https://www.zb.com/
