Sat, May 18, 2024

Oldest Cryptocurrency and Thanksgiving Day

Oldest cryptocurrency and Thanksgiving

Bitcoin is the oldest cryptocurrency in the market. Also, it is important to mention that Bitcoin is the biggest digital currency when it comes to market capitalization. The history of this crypto money is closely related to Thanksgiving Day. In 2017, a lot of people learned about this cryptocurrency at the dinner tables while celebrating this holiday.

First President of the United States, George Washington, announced the first nationwide Thanksgiving celebration, which dates to November 26, 1789. For more than several centuries, Thanksgiving Day remains one of the important public holidays in the U.S.

Traffic jams in Log Angeles and other big cities are common as most people want to spend time at home. Thanksgiving and traditions connected with this holiday became part of American culture a long time ago.

Another interesting fact related to the oldest cryptocurrency and Thanksgiving Day is the price of Bitcoin. In 2017, Bitcoin’s surpassed $10,000 for the first time in the history of this currency. This happened right around Thanksgiving Day. Moreover, several weeks after this historic day, Bitcoin’s price was close to reaching another milestone, which was to surpass $20,000. Unfortunately, Bitcoin was unable to reach $20,000.

Oldest Cryptocurrency and Holidays

The price of Bitcoin and Thanksgiving

From the first Thanksgiving Day to 2011, Bitcoin’s price rose by 757% to $2.40.

From 2011 to 2012, during this period, the market cap of Bitcoin rose by 412%, and as a result, Bitcoin’s price reached $12.30.

In 2013, Bitcoin experienced its first real bull market, as the price increased to $1,010. It was the largest holiday-to-holiday gain of over 8,111%.

Next year in 2014, Bitcoin experienced problems as the price fell to $369. In 2015, Bitcoin was also unable to strengthen its position.

However, the price more than doubled from Thanksgiving in 2015 to the same day in 2016.

Two years ago, on Thanksgiving Day in 2017 triggered an interest in cryptocurrencies. In 2018, Bitcoin’s price declined by 46% to $4,422 in comparison with the same period in 2017.

The cryptocurrency market is developing, and it is interesting to have a look at how Thanksgiving Day will affect the price of Bitcoin in the future.

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