"Happy Memorial Day!
What does this holiday mean to you?
Officially, Memorial Day honors those who have died while serving in the U.S. military. It became a federal holiday in 1971, and it’s celebrated annually on the last Monday of May. For the past 20 years, a national moment of silence in remembrance of fallen heroes has occurred at 3:00 p.m. local time.
Unofficially, it’s the start of the summer season. The actual first day of summer isn’t until June 20, but by then it’s already hot … so most people open their pools and fire up their grills on Memorial Day weekend.
For investors and traders, Memorial Day is usually a day of rest since the stock market is closed. But if you trade in cryptocurrency, well, it’s a whole different ball game. Crypto-trading doesn’t stop for anybody, at any time.
This year, people conceivably have less to do this Memorial Day. Because of COVID-19 there are no large gatherings, no parades, amusement parks or big picnics. And no traditional financial trading.
But hey, buying and selling Bitcoin is pretty exciting! You never know if it will go way down … or way, way up! More and more people are getting involved in the game, and what better to do when everything else is closed?
“Bitcoin also has some of the most volatile price action over weekends, due to lower liquidity. Data has also shown in the past that holidays are often associated with Bitcoin FOMO,” says NewsBTC.
So, the YOLO (You Only Live Once) crowd will likely be feeding their FOMO (Fear of Missing Out) today. In the days ahead, this could mean a surge – or a drop – or a combination of both for Bitcoin, our favorite digital currency.
In the meantime, Happy Memorial Day … and don’t forget to pause for a moment of reflection at 3 p.m.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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