New Year holidays are the longest, regardless of which calendar they are celebrated. The difference lies only in dates and cultural features. The end of the calendar year is an important date in the economy, actually speaking some feature that sums up the results of activities, first of all financial. In the article, we looked at what influence the New Year holidays put on the market cryptocurrency, its behavior and characteristic features during this period.
Rubber, dividing year, is of great importance for the economy as a whole. It marks summing up, analysis of activities, the beginning of a new reference, planning, change in the calculation base, and so on. However, the financial sector of NG has a much greater influence. During this period, many investors fix profits, enter markets or leave them, make decisions on tools, reinvestment and other. For active traders, this is the time of rest, trading on the situation and reflection over the further strategy.
All this, one way or another, is reflected in the cryptocurrency market. During this period, trading volumes are reduced, volatility increases, and the course behavior is not always possible to explain logically. In contrast to the stock market or forex, where at this time a lateral movement is usually observed, quite sharp significant changes may occur.
In parallel, the activities of companies are suspended, which also leads to a reduction
Although the cryptocurrency market often follows Bitcoin, but some altcoins can sometimes not coincide with the general trend. Therefore, as examples, we took three leading virtual currencies, which, in addition to impressive capitalization, have completely different characteristics and features reflecting the main market categories. Bitcoin, Ether and Ripple are «classic» representatives of the main segments of the virtual currency market.
Historical data over the past five years have been taken to analyze, from December 24 to January 10 of each year. Graphs are presented below. Since during this period the market survived colossal changes, first of all the value, then for study, only behavior is, and not absolute course indicators.
The Bitcoin chart shows sufficiently strong fluctuations. The highest level of volatility was observed at the turn of 2017-2018, which is caused by stir and started the longest in history.
Unlike digital gold, the ether began to bargain only since 2015, and its price was less volatile during this period. In 2018/2019, he also like Bitcoin returned to the initial indicator, but he added it all the previous year in price.
The behavior of ripples, with the exception of the last NG, was characterized by high volatility. Four recently, the virtual asset was also practically returned to the price of the entrance, but the trading volume during this period fell much stronger than that of Ether or Bitcoin.
The Chinese holiday spring is tied to the lunar cycle, so his date changes annually. In the subway, 2019 will come only on February 5th. Therefore, for the dynamics analysis database, four previous years were taken to proceed their uniform time frames. We also reviewed two weeks vacation and the same cryptocurrencies.
It is worth noting that changes and volatility during this period are higher than during the celebration of the Christian New Year. The Bitcoin chart shows that each time it was raised by his course, although the last couple of years the increase was not so tangible in the relative ratio. Trading volumes were also not strongly signed, and with sharp changes, they joked, which indicates a sufficiently high activity of traders during this period, promptly responding to oscillations.
The ether so far found only 3 Chinese NGs, and during this period its volatility is also much stronger than during the Christian holidays. Although the first two years of his dynamics was positive, but in early 2018 the trend changed dramatically.
Over the past four years, the ripples on the results of this period fell or returned to the entry level. However, in 2016 and 2017, sharp jumps were observed, on which traders could make well. Although the volume of trades at this time significantly declined, increasing only at the moments of significant oscillations.
Based on historical data, it can be said that this period is attractive for active trading and, most likely, this time we will also observe the characteristic
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