July 4 is an ordinary day for many Chinese, but it is very special for Americans. This day is the Independence Day of the United States, and it is also known as the "National Day." From 2015 to 2018, Bitcoin has achieved four consecutive years of growth on US National Day. As BTC has rebounded 25% from its recent lows, many crypt analysts expect BTC to maintain its uptrend and reach a five-day rise on National Day. However, BTC does not give face, but may set the biggest decline of BTC on National Day.
Before 2015, Bitcoin’s performance on the US Independence Day fell. There was no significant change in prices in 2012, which was 3.16% in 2013 and 2.63% in 2014. But from the beginning of 15 years until 18 years, Bitcoin rose 1.67%, 3.25%, 1.79% and 1.17% in the four years. As an asset against the dollar hegemony, Bitcoin has risen five times in the past seven years of Independence Day, showing its due attitude.
Time entered 2019, Bitcoin fell sharply after approaching the year's high of $14,000 on June 26, hitting a low of $9614 on July 2, but then rebounded for two consecutive days, in Beijing time in July. On the 4th (Washington, USA, slower than China's 12 hours), it rebounded to $11,970, and the lower point rose by about 25%. Before the United States welcomed Independence Day, analysts were expecting BTC to maintain its upward trend and achieve five consecutive days on the US National Day.
CoinDesk's technical analyst Omkar Godbole said in his analysis yesterday that Bitcoin rebounded from the recent lows and seems to be gaining momentum. The short-term K-line has already shown a bullish signal. He predicted that the price of Bitcoin could rise and the resistance would be $12,448.
Well-known multi-headed Tom Lee also said on Twitter that since Bitcoin broke the $10,000 mark, its performance has been very different. We define it as level 10 "FOMO" because it represents only 3% of the time in Bitcoin history. Today (July 4th) is the Independence Day of the United States. This is a day worth celebrating with fireworks. So, is Bitcoin also "fireworks" today? Let us wait and see.
The message under the tweet is also a cheer: "Let us break through $12,500 tomorrow!!"
However, Bitcoin has not risen. At 7:00 on July 5th, Beijing time (at 19:00 on July 4th, Washington time), Bitcoin plunged 3.8%, and then fell to 11020 US dollars in the following period. Currently, it is temporarily reported at 11265.98 USD, with a drop of 4.97% in 24 hours. Bitcoin's biggest single-day decline on US National Day.
At the time of writing this article is 10:00 on July 5th, Beijing time, and at 22:00 on July 4th, Washington time, two hours from the end of Independence Day. At present, it seems that BTC has turned into a rise and hopes that it will not be big. The hat of the biggest decline may also be difficult to remove.