No Christmas bull run and bitcoin cash falls 11 percent

Santa didn't bring a bull run with him this year.

Image source: Shutterstock

2018-12-28 11:14

Totte Löfström

totte.lofstrom@trijo.co

We didn't get a Christmas bull run as many had hoped for. Instead, bitcoin declined between five and ten percent over Christmas.

It is not uncommon to read posts on Reddit and Facebook stating that Christmas is an over-all good time of year for bitcoin and other cryptocurrencies. But the Holidays didn’t become what many cryptocurrency investors had hoped for. The thesis is that when people travel home to be with friends and families and that they tell them about crypto, which in turn result in more people buying and prices going up.

Now, when Christmas is finally over, it is clear that this wasn’t really the case. At least not this year. Instead, we saw declines of around five to ten percent for bitcoin, depending on which day you count from.

The last 24 hours also came with further declines in the markets. If we take a look at the five biggest cryptocurrencies, all of them show red numbers. The biggest loser was bitcoin cash (−10,34%) while bitcoin (−3,62%) declined the least. Right now, bitcoin is traded at $3 662.48.

However, there are some green numbers on the top 100-list. All-in-all only eleven of the biggest hundred cryptocurrencies gained in value the last 24 hours and the biggest winners were dex (+31,61%) and endor protocol (+31,04%). The biggest losers were eternal token (−63,85%) and qash (−16,51%).