Crypto Market Provides Buzz for Bored Equity Traders Over Christmas Season
- Bitcoin saw 55% rise between Christmas Eve 2020 and January 6th, 2021 -
LONDON, Dec. 23, 2021 /PRNewswire/ -- Flagship cryptocurrency Bitcoin (BTCUSD) has made gains over the festive season for the last five years according to stocks, shares and cryptocurrency website ADVFN.
Investors looking for trading opportunities during the so-called 'Crimbo limbo', when traditional equity markets are either closed for trading or experiencing a festive lull, will find plenty of action in the cryptocurrency markets. Last Christmas, Bitcoin rose from $23,746.97 to $36,873.42 between December 24th and January 6th, 2021 – marking a 55% increase. Number two cryptocurrency Ethereum (ETHUSD) trumped this, almost doubling in value (up 96%) in the same 14-day period, climbing from $613.08 to $1,204.72. [1]
Bitcoin hit an all-time intraday high of $20,089 on December 17, 2017, and subsequently traded as low as $3186 during December 2018. However, despite this fall over the year, the crypto experienced an increase of 26% between Christmas Eve 2017 and Epiphany 2018, spiking from $13,925.80 to $17,527. Ethereum once again eclipsed this with a 50% rise ($694.15 to $1,041.68).
The Christmas period of 2019-2020 (December 24th-January 6th) saw Bitcoin make - by crypto standards - a modest gain of 7.5%. Ethereum meanwhile advanced 13% in the same timeframe increasing from $127.59 to $144.37.
"Any investor or trader finding themselves bored over the Christmas period and looking for a bit of market craziness will certainly find it in the crypto market; a market that never sleeps," said Clem Chambers, CEO of ADVFN. "It's a wild ride and certainly not for the fainthearted. As we've seen with Bitcoin again this year, what goes up often comes down, with swings of 20% or more not unusual for the 'blue crypts,' and even bigger fluctuations for other coins. For a longer-term strategy, if you believe crypto has a great future, as I do, then dollar cost averaging is one way to go."
Investors can monitor all the latest news and price action for cryptocurrencies and DeFi tokens on ADVFN's award-winning cryptocurrency platform[2] https://uk.advfn.com/cryptocurrency
For further information, please email: [email protected]
About ADVFN
ADVFN (www.advfn.com) is an award-winning global stocks, shares and crypto information website providing market-leading financial tools and data to private investors around the world.
Offering real-time share prices, news feeds, charting, portfolio management, monitor lists, financials (fundamentals), data from global stock exchanges, Level 2 and some of the most active financial bulletin boards in the world (and much more), the site is the destination of choice for day traders and retail investors.
Established in the last quarter of 1999, ADVFN (LSE:AFN) was floated on the London Stock Exchange's AIM market in March 2000. The site currently has approximately 36 million users worldwide and a billion page impressions a year. On July 5th, 2021, in a trading update, the Company announced its intention to commence paying dividends.
Originally a UK-based site, the company currently operates in the US, UK, Brazil, Japan and Dubai.
ADVFN has a joint venture in Brazil, a country in which ADVFN has a geographic and language targeted website. This is in addition to its US, French, German, Italian, Canadian, Japanese, Indian, Mexican and Filipino ADVFN financial sites.
In 2006 ADVFN acquired InvestorsHub.com, a leading online investment community website in the North American market.
ADVFN bought AllIPO, an online IPO trading platform, as well as stock brokerages TSCTrade and Throgmorton Street Capital in July 2009.
[1] Data is taken from 'close' price on December 24th and close on January 6th
[2] Winner of 'Cryptocurrency Platform Provider of the Year' in the MoneyAge Awards 2020 and 2021
SOURCE ADVFN Plc
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