Holidays and special events often show an interesting correlation with Bitcoin and other cryptocurrencies. St. Patrick’s Day is no exception, at least historically speaking. The value of Bitcoin on this day always takes people by surprise.
Bitcoin Prices On St. Patrick’s Day
Historically speaking, the Bitcoin price never shows any sign of stability. Its value is constantly fluctuating, either for better or worse. Even on St. Patrick’s Day, there are no guarantees of which value one might see on the chart. That being said, Bitcoin tends to perform relatively well on this particular day of the year.
Judging by the chart above, the candle often turns green – which isn’t surprising. Even if the previous years’ value is higher, the following year tends to yield far better results. It is an interesting currency for many different reasons, yet one that will always provide significant price potential.
Back during St. Patrick’s Day in 2021, one Bitcoin was worth just $5. An inconceivable value for those who have been around this industry for a few years. A year later, that value rose to $47 before culminating at $625 in 2014. Although the momentum didn’t last in 2015 – down to $290 – Bitcoin has recovered incredibly well ever since.
In the 2016-2021 range, the value of Bitcoin has remained above the 2015 level without skipping a beat. Going from $418 to $54,865 in five years is an impressive streak, even if there was a minor setback in 2019. That dip was to be expected, however, as 2017 and 2018 were crazy years.
Following the growth from 2020 to 2021, it remains unclear what 2022 will offer. Achieving another 932% yearly price increase seems impossible, although Bitcoin tends to play by its own rules. Nothing can prevent it from increasing ten times in value again, although the higher prices will prove difficult to sustain in the long run.
For those still on the fence about acquiring Bitcoin, this price evolution shows why it may be a worthwhile option. Very few financial assets can note similar performances year-over-year. Even though pullbacks happen from time to time, the overall uptrend has never been broken successfully.
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