The Holiday Pump!
Do you think that a pump is coming because of US Federal Holiday?
The chance of it pumping is really high because of the current facts.
On 20 May 2020, Bitcoin went up to a peak of US$9804.79 before it went downhill to the current rate of US$9197.49 based on what I see in coinmarketcap.
We notice that there were slight increase and Bitcoin has maintained above US$9000 so far even after the massive dumping.
With US Federal this weekend and coming Monday, the US stock indexes and markets are closed due to the celebration of the Memorial Day to pay respect to war heroes who had lost their lives fighting for freedom.
In the past, there may be parades, celebrations or even mass gatherings but the lockdown and the need for social distance have greatly affected these social events.
With stock market close without social obligations, most traders have plenty of time to spare this holiday.
Bitcoin and cryptocurrencies are still being actively traded without a stop even during holidays.
It is human nature that many traders may end up looking at cryptocurrency when they are too free and lack of the trading excitement that they usually have.
In the past few years, there were more pumping than dumping so the chance of a pump with all the positive news for the past week for Bitcoin may still be able to awaken its calling to fulfill its past predestined historical trend.
Do you think this makes sense to you based on human psychology of boredom and the market trend?
Thank you for reading my article and I hope it is interesting for you.
