It's holiday season here in the West and you might be wondering: "Should I spend time with my family, or should I trade bitcoin?"
We thought the same thing, so we looked at how the Christmas->New Year price and volume action were on the exchanges in 2013 and 2014.
2013
This was of course the most epic pump we ever had after reaching $100. There was 10-fold increase in price as we skyrocketed above $1,000. So, let's look at the chart from Bitfinex for that time:
So Christmas season was generally bullish in 2013 here. Volume looked a little lower than normal on actual Christmas days and up to New Year's Day.
China we see the same from OKCoin:
On this chart we get a much better appreciation for the volume difference over Christmas days. It basically went completely dead -- however, we had modest price increases too. So even if volume is thin, which may mean wider than normal spreads, there is action to be had if we get a repeat of 2013.
2014
Last year in Christmas was when bitcoin was a bit more mature, we had come down from the all-time-highs (ATHs) and were in a bear market. So note that when you see this chart from the holiday times last year:
Here we see volume dead relative to the preceding and following action. But we were in a bear market so the dynamics were a lot different.
OKCoin chart from last year shows similar:
Again we see price is making moves during these Christmas and New Year days, albeit on low volume.
So if the past couple years are any indication, there's money to be made trading on price movements over the holidays, even when it feels like the whole world is spending time away not working and with family.
The choice is clear: disregard your family this Christmas and focus on the charts, because you do not want to miss any opportunities in the bitcoin markets.
