Ethereum is 15% off this Christmas, with the price lowered from $670 to $570 while it lasts.
Anticipating a big spending spree with last minute presents, ethereum is seemingly trying to frontrun other retailers by starting boxing day earlier.
That’s to lighten a difficult year for many, especially in London where Christmas has not been cancelled as families will celebrate as they have every year the rise of light over darkness.
There are some suggestions ethereum has taken this idea from bitcoin, and in particular 2016 bitcoin:
Just as for bitcoin then, so too now ethereum has been rising since November, but on the 24th both were down.
It’s easy to say that this time it was because of XRP, but bitcoin held its own, showing huge strength by not moving at all really and even gaining a bit at times.
So why should eth be affected by XRP? Maybe because those XRP-ers went to bitcoin and not eth. Or maybe because eth has been trying really hard to cross that $670 and was due for a correction.
So bitcoin seeing a mini-correction near ath on Christmas 2016 may well be similar to eth seeing a mini-correction near its biggest resistance line before ath on this Christmas 2020.
We can see above what happened for bitcoin, but it doesn’t mean it will happen for eth too. However Christmas has generally come with presents for cryptos, albeit in the days after Christmas.
The 2016 one is in particular memorable because bitcoin went on what then was one of its biggest bull runs, before correcting to then rise again.
The theory was all them Christmas conversations that may have included bitcoin may have had something to do with it.
Another theory was that those who got money because their loved ones thought that was a better present, decided to spend it on bitcoin.
What will happen this time remains to be seen, but it is Christmas time, and therefore you may well enjoy the discount.