Happy Halloween, I wonder what will we get from this goodie bag today.
Is it better to trick or treat?
Halloween may be a terrifying time of year for some, but it’s a far more exciting time of year for crypto investors.
There are a few reasons why the crypto community wants to celebrate the end of October each year, whether it’s the ‘Halloween Effect’ or the anniversary of the publication of The Bitcoin Whitepaper.
When did Bitcoin first appear on the scene?
Satoshi Nakamoto published the Bitcoin Whitepaper on October 31, 2008.
Because BTC was the first cryptocurrency to be produced, many people consider Halloween 2008 to be the start of cryptocurrency, and this day will be commemorated every year as BTC’s birthday.
In fact, some people refer to Satoshi as the “ghost” of Bitcoin because he invented the first cryptocurrency and is the founder of the crypto movement that sparked the digital economic revolution.
‘Bitcoin: A Peer-to-Peer Electronic Cash System’ detailed the details of a tamper-proof, decentralised peer-to-peer protocol that had never been seen before.
BTC is approaching its 13th birthday this year, and it has grown to hold the world’s greatest crypto market cap since then!
Check out our spotlight blog post to learn more about BTC.
Why not buy some BTC yourself to commemorate the occasion?
What is the Halloween Effect, and how does it work?
The origins of the Halloween Effect can be traced back well beyond the cryptosphere. According to historical data, the winter months are a better time to invest in traditional assets. The reasons for this are hotly discussed, although some speculate that it has something to do with the fact that people used to start their summer vacations around May, prompting investors to sell their holdings.
Have you ever heard the phrase “sell in May and leave”? It proposes that investors sell their assets around the end of May and then repurchase them in early November, and there’s lots of evidence from researchers all across the world that this is a highly reliable trading technique.
So, while the markets may see a downturn from May onwards, November signals the start of a price rise as consumers want to buy. Indeed, others argue that this pattern has gotten stronger over time.