WebJan 10, 2024 · For example, in 2024, Bitcoin prices dropped steadily from $3,491 right before the Chinese New Year to lows of $3,397 during the holiday. In 2024, prices fell below the USD$8.3k resistance before Chinese New Year. There was a recovery back to USD$8.5k on the first day of the holidays. WebChinese New Year is on February 16th this year and the crypto market is holding its breath until the date passes. Why? In the past, Chinese New Year has caused crypto prices to …
The Correlation of Chinese New Year & Crypto Pump
WebMar 21, 2024 · In late September 2024, the People’s Bank of China (PBOC) banned all cryptocurrency transactions. The PBOC cited the role of cryptocurrencies in facilitating financial crime as well as posing a growing risk to China’s financial system owing to their highly speculative nature. However, one other possible reason behind the cryptocurrency … WebFeb 9, 2024 · The Chinese New Year Transition Some crypto enthusiasts think there’s a great possibility of a Chinese New Year dip ahead for bitcoin ( BTC) as value drops … mountain marta photography
WebFeb 15, 2024 · Interestingly, there are some groups working on the correlation between the new year event and crypto market sentiments. The results are really interesting: Buying Bitcoin at the end of the first day of Chinese New Year and selling it 10 trading days later would have returned +9%, on average, with all of the last eight years (2015-2024) … WebJan 20, 2024 · The Chinese New Year is on Jan 22. Low volume often accompanies the golden week. This paves the way for increased volatility. Chinese New Year is on Sunday, Jan. 22, marking the beginning of a week-long national holiday in China, which is often accompanied by high volatility in the market. This is called the “golden week” and is the … WebIn the past, Chinese New Year has caused crypto prices to plummet. Asian countries (China in particular), account for a huge portion of crypto trading. This becomes pretty evident when news breaks about some regulation … mountain market fort collins