Will Friday, the 13th of the Month, Known as the Unluckiest Day, Bring a Decline for Bitcoin? What Does Historical Data Say?

While investors have a constant desire to make money, there are some superstitions among investors about price increases.

coindesk‘According to the news, one of these superstitions is the idea that a fall will occur on Friday, the 13th of the month.

Accordingly, Friday, the 13th, is considered unlucky because the S&P 500 has historically shown a downward trend on this day.

But the situation is leading cryptocurrency BitcoinIt is not the same for . For BTChas historically performed positively in what has been a terrible date for the S&P 500.

at this point matrixport He said that according to historical data monitored by analysts, Bitcoin has increased by an average of 1% on Fridays corresponding to the 13th since 2010.

Analysts also pointed out that the data showed that BTC prices increased by an average of 14% and 66% in one and three months, respectively, after Fridays, which coincided with the 13th of the month.

Markus Thielen, head of research at Matrixport He made the following statement on this subject:

“While historical 13th Fridya statistics show that Bitcoin made significant gains on Friday the 13th, a more nuanced assessment points to the potential for a correction in the crypto market.

In particular, the weakness in Ethereum indicates that we are facing challenges due to limited activity in DeFi applications and the significant decline in NFT minting.

Simultaneously, overall crypto markets along with ETH are also showing signs of weakness. “This brings to mind the possibility that Bitcoin and cryptocurrency prices may drop further in the near future.”

EthereumMarkus Thielen, who also examined in detail, ETH He pointed out that breaking $ 1,550, which is the key support level for , will result in significant liquidation of leveraged positions.

“If the key support level on Ethereum cannot be maintained and there is a break below, this will open the doors for a deeper decline towards $1,430 and eventually $1,300.

This possible decline in ETH Bitcoin“It could adversely affect the broader crypto market, including cryptocurrencies, and lead to gradual liquidations.”

during writing Bitcoin from $26,800 EthereumIt is traded at $1,548.

*This is not investment advice.