Review of Bitcoin's Spring Festival Market in the Past 10 Years and Exploration of Regularities
The Spring Festival, as a traditional festival of the Chinese nation, is a time for family reunion, but for the investment market, it is often regarded as a "window period". However, the Bitcoin market never takes a holiday, and its price fluctuations are also eye-catching during the Spring Festival.
Review of Bitcoin Prices During the Spring Festival Over the Years
2014 Spring Festival (January 31): The price was $813, and the market continued to go sideways after the festival, with a strong wait-and-see sentiment.
2017 Spring Festival (January 28): The price was 923, and Bitcoin started a bull market journey after the festival, with the price breaking the 19,000 mark within the year.
2020 Spring Festival (January 25): The price was $8,339. Affected by the global epidemic, Bitcoin plummeted in the short term, but then ushered in a big bull market.
2021 Spring Festival (February 12): The price was $47,243, and the price of Bitcoin continued to set new historical highs, and the market enthusiasm was high.
2023 Spring Festival (January 22): The price is $22,740. The market is in a bull-bear alternation phase, with increased volatility and obvious divergences.
The logic behind the Spring Festival market
Emotional drive: During the Spring Festival, trading activity in the Asian market decreases, and investor sentiment fluctuations may cause abnormal changes in Bitcoin prices.
Liquidity contraction: During holidays, trading volume decreases, prices are easily dominated by large funds, and volatility may increase.
Macroeconomics and policies: Market performance before and after the Spring Festival is often closely related to the macroeconomic environment and policy direction of the year. Investors need to pay close attention to relevant policy dynamics.
Exploration of the rules of the Spring Festival market
From the data of the past 10 years, there is no fixed pattern for the Bitcoin Spring Festival market, but it shows the following trends:
Bull market Spring Festival: In the context of a bull market, Bitcoin prices are likely to rise after the Spring Festival, and investor confidence is enhanced.
Bear market Spring Festival: In the bear market stage, Bitcoin prices fluctuate violently during the Spring Festival, and often fall back after the festival. Investors need to be cautious.
Volatile market Spring Festival: In a volatile market, Bitcoin prices may continue to move sideways during the Spring Festival, lacking a clear direction, and investors need to be patient.
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