Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. Today I am just dropping in with a post to say hi, and happy Halloween and leave some interesting if not quite spooky bits of knowledge.
The ‘Halloween effect'
It is a theory among traders of stocks and crypto that once Halloween arrives the prices fly like the witches on their broomsticks. It is a popular superstition among traders as they believe the market generally perform better from the end of October until the end of May. That has been the case for the year on year price of Bitcoin over the past three years, with the only deficit being a lowly -0.61%. It is highly unlikely we will see another rise in price by the end of the day, but the recent upturn in prices has been positive, while the theory of strong price action from now until May is a welcome thought for many traders. It was October in 2017 that Bitcoin marked its craze erupting and the price hitting $20,000 in December of that year. If we can get a similar surge back towards the 2021 all time highs and above I think it could be a very happy Christmas for everyone. For now, lets enjoy some trick or treating.
The below image from finbold.com shows the value of Bitcoin in US Dollar's on Halloween since 2017.
The Origin of Halloween
Dating back around 2,000 years ago, what we currently celebrate as Halloween began mainly in the area that is now Ireland, the United Kingdom and northern France, when the Celts celebrated their new year on November 1. This was known as Samhain, which is the Irish word for November.
It marked the end of summer and the harvest, while it also spelled the beginning of the dark, cold winter, a time of year that was often associated with human death. Celts believed that on the night before the new year, the boundary between the worlds of the living and the dead became blurred. Due to this, on the night of October 31 they celebrated Samhain, when it was believed that the ghosts of the dead returned to earth.
The Celts thought that the presence of the otherworldly spirits made it easier for the Druids, or Celtic priests, to make predictions about the future. The druids built huge sacred bonfires, where the people gathered to burn crops and animals as sacrifices to the Celtic deities. The Celts also wore costumes during the festivities consisting of animal heads and skins, and attempted to tell each other’s fortunes.
The below image is from realwellnessdoc.com
Have a great Halloween.
Peace. CryptoGod-1.
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