Happy Friday the 13th, HODLers!
It may seem strange to wish you a happy day on this day, which is considered the most unlucky day. However, investors may have some reasons to buck this trend and smile when it comes to cryptocurrencies.
We delve into the stories, superstitions, and how Bitcoin has fared historically on Friday the 13th. I hope this will ease the feelings of those who are nervous about today’s date.
Was Friday the 13th always unlucky?
The earliest known negative reference to 13 is in Mesopotamia’s Code of Hammurabi, a Babylonian legal code dating from about 1760 BC. The laws are numbered, but the number 13 is omitted.
People who think 13 is unlucky are called this. triskatekaphobia. It may come as no surprise to you that horror novelist Stephen King is on his list of three famous phobias. So did the 32nd president, Franklin D. Roosevelt.
Friday the 13th gained notoriety based on an event in the 14th century when King Philip IV of France ordered the arrest of the Knights Templar on Friday, October 13, 1307, and most of the knights were tortured and killed. there is a possibility. .
There’s even a name for people who are afraid of Friday the 13th – paraskebidecatriaphobia.
However, 13 is not considered unlucky. In France, 13 was traditionally considered a lucky number until before World War I, and the number was used as a lucky symbol on postcards and amulets.
Is Friday the 13th bad luck for cryptocurrencies?
good. bad. lucky. Bad luck. What does this mean for crypto holders?
Honestly, not that much unless you’re struggling with your portfolio. Friday the 13th was generally positive for stock prices. Since its creation, the S&P 500 index has recorded an average increase of 0.1% on his 13th Friday. This may not seem like a big number, but it is three times the average increase over all trading days of 0.03%.
Although it has a much shorter history, Bitcoin has historically shown resilience and positive performance on Friday the 13th, despite it being considered unlucky due to the various superstitions and historical events mentioned above. I’ve shown it. Data shows that since 2010, Bitcoin has gained an average of 1% on this day, with significant gains in the following one and three months. This is 10 times the average stock market gain on Friday the 13th.
You can find out more by looking at the results after one month. Bitcoin gains an average of 14% per month since Friday the 13th. If you look at it, Monthly revenue If you look at the S&P 500 all the way back to 1900, its monthly return has only exceeded 14% three times. Finally, we have to go back to 1938. The S&P 500 recorded over 14% return in one month.
- April 1933 – 29.3%
- May 1933 – 17.6%
- June 1938 – 20.5%
Although I don’t have data on three-month returns, I can say with certainty that the S&P 500 has never been up 66% in three months.
If you dig deeper, you’ll find that some months are better or worse than others (no surprise). In October, two of the worst Friday the 13th daily returns for the S&P 500. The worst Friday the 13th for stock prices was October 13, 1989, with a 6.1% decline, followed by Friday, October 13, 1933, with a 3.8% decline. Conversely, Bitcoin is only up on Friday, October 13th, but to be fair, there is only one data point – the 6% increase on Friday, October 13th, 2017.
Key points for investors
We usually do not take superstitions into account when measuring our own interests. We’re not gamblers, and we don’t rely on luck (at least, not completely).
Good investing requires knowledge, patience, and research. With the right information and insight, you can invest in cryptocurrencies without worrying about what day it is.
Fortunately for the inventors of cryptocurrencies, the future is full of hope. While we don’t have enough data to consider Bitcoin’s historical outperformance to be statistically significant, given the data we do have, Bitcoin has outperformed stocks. There is no doubt about it. This is perfectly consistent with other historical indicators for Bitcoin and stocks.
