Bitcoin can increase 20% during the Chinese new year

bitcoin can increase 20% during the Chinese New Year that begins on January 29 in the midst of favorable conditions of the market, says the Matrixport cryptoanalysis firm.

The company says that bitcoin has generated profits for investors in 11 of the last 12 years. The growing market optimism about regulations in favor of cryptocurrencies after the inauguration of Donald Trump as president of the United States also provides a favorable context for possible profits this year, he added.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.1937984496124″>

<a target="_blank" href="https://twitter.com/hashtag/MatrixOnTarget?src=hash&ref_src=twsrc%5Etfw”>#Matrixantoget Report – January 24: The effect of Chinese New Year: <a target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin +21% with a succeeding rate of 83%.<a target="_blank" href="https://twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Write <a target="_blank" href="https://twitter.com/hashtag/CryptoMarketOverview?src=hash&ref_src=twsrc%5Etfw”>#General Cryptographic Market Description <a target="_blank" href="https://twitter.com/hashtag/CryptoInvestors?src=hash&ref_src=twsrc%5Etfw”>#Cxtaininversores <a target="_blank" href="https://twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc <a target="_blank" href="https://twitter.com/hashtag/Matrixport?src=hash&ref_src=twsrc%5Etfw”>#Puertomatriz pic.twitter.com/dsqrz8xppv

– Matrixport officer (@matrixport_en) <a target="_blank" href="https://twitter.com/Matrixport_EN/status/1882699870559170671?ref_src=twsrc%5Etfw”>January 24, 2025

bitcoin increased 26% by 2022 and 23% in 2023 and Matrixport says that the Chinese lunar new year is the “20 -day more favorable window” for bitcoin.

China's impact on bitcoin's growth over the years

The Matrixport report emphasizes China's fundamental role in bitcoin's initial growth, showing an increase in its 1.5% participation in the summer of 2012 to 10.8% in 2013. At the end of 2014, this figure had been shot at a huge 70.8%.

The impressive increase was promoted by several factors, including “strict capital controls, capital availability, the development of large -scale btc mining operations and a prevailing speculative mentality among Chinese investors.”

The Chinese technological sector also had a significant impact when building mining platforms and increasing the number of validation nodes worldwide.

Matrixport: bitcoin's current price is determined by different factors

The Matrixport report reveals that bitcoin's current position in the market is the result of different forces:

“In the technical aspect, the daily reversion indicators reached over -sales levels last week, which suggests a potential support, while weekly indicators still indicate that bitcoin is still overcompared.”

At the macroeconomic level, the strict policies of the Federal Reserve and the reduction of liquidity create challenges. However, the US bitcoin strategic reserve under the presidency of Trump gives a positive support impression.

The Matrixport report also indicated that after the Federal Open Market Committee (FOMC) In December, the creation of stable currencies was less than usual, which suggests a lower entry of fiduciary money.

Despite that, “bitcoin's financing rates are showing early signs of renewed activity,” according to the Matrixport report.

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