Bitcoin has in some ways become synonymous with Thanksgiving. It was two years prior when dinner table talks with family members about the first-ever cryptocurrency turned into extreme FOMO resulting in a bubble the asset still has yet to recover from.
Investors had a lot to be thankful for that Thanksgiving, but what about this year? Could Bitcoin explode into a bull market once again? Let’s review a decade of Bitcoin performance post-Thanksgiving to see if crypto investors should really be thankful it’s Thanksgiving once again for Bitcoin.
The Complete History of Bitcoin Price on Thanksigiving
It was right around Thanksgiving 2017, when Bitcoin first breached above the FOMO trigger – as Fundstrat’s Tom Lee called it – price point of $10,000 when not even a month later Bitcoin doubled in price, reaching its historic peak price of $20,000.
Last Thanksgiving, Bitcoin traded at nearly 25% of that peak, making crypto investors a little less thankful last year.
This year, Bitcoin is at a turning point and wherever it goes following the US holiday could alter the trend of the asset for the foreseeable future, making it among the most important Thanksgivings for the asset yet.
To try and get a feel for how Bitcoin might perform from here, we’ve reviewed the last decade of Bitcoin Thanksgivings to understand how the asset has performed following the holiday.
Bitcoin’s very first thanksgiving the crypto asset was valued at roughly a quarter, making it incredible to think that someday it could be worth a quarter of a million dollars per BTC.
From the first Thanksgiving to Thanksgiving 2011, the crypto asset gained 757%, growing to $2.40. From 2011 to 2012, the leading crypto asset by market cap had another massive gain, of 412%, taking its price to $12.30.
The next year, though, Bitcoin experienced its first real bull market, taking the price all the way to $1,010 for its…