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Mr Too
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Do cryptocurrencies increase or decrease during Western New Year?
I. Summary of historical trends
1. Bullish phase
1.1. 2016 - 2017: The price of Bitcoin and major cryptocurrencies rose sharply during the New Year transition, driven by the influx of new investors and positive expectations for blockchain.
1.2. 2020 - 2021: The price of Bitcoin surged at the end of 2020 and continued into early 2021, reaching new highs. This was related to an increase in institutional capital flows and widespread public interest.
2. Bearish phase
2.1. 2017 - 2018: After a strong surge at the end of 2017, Bitcoin declined sharply in early 2018 due to profit-taking pressure and natural market corrections.
2.2. 2021 - 2022: This period witnessed a significant decline in the cryptocurrency market, reflecting a correction after a hot growth cycle.
II. Increase/decrease rate during Western New Year
2.1. Historical analysis shows:
Around 60-70% of the years, cryptocurrency prices either increase slightly or remain stable around the Western New Year.
In the remaining 30-40%, the market declines, often due to profit-taking pressure after price increases in mid to late December.
2.2. Reasons why prices tend to increase more
- New investment inflows: The New Year is often a time when institutional and individual investors have high expectations for the market's future, driving buying activity.
- Optimistic sentiment: The start of the New Year usually comes with optimism and long-term investment strategies.
III. Conclusion
History shows that cryptocurrency prices tend to increase more during the Western New Year, especially in years when the market is positive. Best regards
🤩You can support the author:👉Donate: 23223650. Thanks🥰
$BTC
$ETH
$XRP
$DOGE
$SHIB
I. Summary of historical trends
1. Bullish phase
1.1. 2016 - 2017: The price of Bitcoin and major cryptocurrencies rose sharply during the New Year transition, driven by the influx of new investors and positive expectations for blockchain.
1.2. 2020 - 2021: The price of Bitcoin surged at the end of 2020 and continued into early 2021, reaching new highs. This was related to an increase in institutional capital flows and widespread public interest.
2. Bearish phase
2.1. 2017 - 2018: After a strong surge at the end of 2017, Bitcoin declined sharply in early 2018 due to profit-taking pressure and natural market corrections.
2.2. 2021 - 2022: This period witnessed a significant decline in the cryptocurrency market, reflecting a correction after a hot growth cycle.
II. Increase/decrease rate during Western New Year
2.1. Historical analysis shows:
Around 60-70% of the years, cryptocurrency prices either increase slightly or remain stable around the Western New Year.
In the remaining 30-40%, the market declines, often due to profit-taking pressure after price increases in mid to late December.
2.2. Reasons why prices tend to increase more
- New investment inflows: The New Year is often a time when institutional and individual investors have high expectations for the market's future, driving buying activity.
- Optimistic sentiment: The start of the New Year usually comes with optimism and long-term investment strategies.
III. Conclusion
History shows that cryptocurrency prices tend to increase more during the Western New Year, especially in years when the market is positive. Best regards
🤩You can support the author:👉Donate: 23223650. Thanks🥰
$BTC
$ETH
$XRP
$DOGE
$SHIB
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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