Bitcoin has seen a considerable price increase during the Chinese Spring Festival in 11 of the previous 12 years with an 83% chance of rising. This is according to data from Matrixport with this seasonal pattern regarded as one of the most reliable occurrences in the history of bitcoin.

According to statistics, bitcoin has increased by 26% and 23% over the last two years, respectively, and by more than 21% on average during the Spring Festival. This is intimately linked to prices rising quickly due to increased customer interest in bitcoin.

BTC is currently negotiating a complex web of conflicting signals. While weekly indications continue to show that BTC is still overbought, daily reversal indicators reached oversold levels last week, suggesting possible support.

The Federal Reserve‘s hawkish posture and tighter liquidity are two unfavorable variables that generate headwinds on the macroeconomic front. Meanwhile, optimistic factors like the pro-crypto Trump administration and the anticipation of a U.S. bitcoin reserve offer support along with rising bitcoin funding rates are beginning to indicate a resurgence of activity. This has kept bitcoin in a phase of consolidation, due to this push-pull dynamic.

The report concludes its observations by stating that the Chinese New Year is a very important trigger in the seasonal performance of bitcoin. The Chinese New Year, which begins on January 29 is the most statistically favorable 20-day timeframe for bitcoin and could create a significant chance for long holdings.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。