
The superstitious belief that Friday the 13th is an unlucky day is well-known, and it seems that this sentiment extends to the world of finance as well. In particular, the S&P 500, a major equity index on Wall Street, has historically experienced bearish trends on this fateful date. However, when it comes to bitcoin, data from crypto services provider Matrixport reveals a different story. Since 2010, bitcoin has, on average, seen a 1% increase in value on Friday the 13ths. Moreover, following these peculiar Fridays, prices have surged by an average of 14% and 66% in the subsequent one and three months, respectively. Markus Thielen, head of research and strategy at Matrixport, suggests that this trend may continue. However, Thielen also warns of challenges facing the cryptocurrency market, such as limited activity in decentralized finance (DeFi) applications and a decline in the minting of non-fungible tokens (NFTs). Consequently, crypto markets are displaying signs of weakness, hinting at the possibility of lower cryptocurrency prices in the near future. The price of Ether, for example, is currently trading near its September lows of $1,550, and breaching a crucial support level could lead to significant liquidation of leveraged positions and potentially trigger a deeper slide towards $1,430 and even $1,300. Thielen emphasizes the market-wide ramifications that could result from such a scenario.