Chinese New Year is Good for Bitcoin

in #bitcoin7 years ago (edited)

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The price of Bitcoin has increased after Chinese New Year four times over the past five years. With the exception of 2014, the price of Bitcoin has increased by at least 6.45% and by as much as 39.26% from Chinese New Year until the end of February. Below are some charts illustrating these figures. The red dots on the charts indicate Chinese New Year. Chinese New Year falls on Friday, February 16 this year.

2013


Bitcoin price on Chinese New Year: $23.97
Bitcoin price end of February: $33.38
% Change: 39.26%

2014


Bitcoin price on Chinese New Year: $800
Bitcoin price end of February: $565
% Change: -29.38%

2015


Bitcoin price on Chinese New Year: $240.2
Bitcoin price end of February: $255.7
% Change: 6.45%

2016


Bitcoin price on Chinese New Year: $370.49
Bitcoin price end of February: $439.16
% Change: 18.53%

2017


Bitcoin price on Chinese New Year: $919.43
Bitcoin price end of February: $1189.1
% Change: 29.33%


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Legal Disclaimer: This is just my analysis and not to be taken as professional financial advice. Do your own research beyond what you read in my blog posts and make your own decisions based on your beliefs about what to invest your money in.

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