Will Bitcoin rise during the Spring Festival? Looking back at the data in the past 10 years will tell you

Bitcoin hit a record high on Trump's inauguration day, reaching $109,800, and then slightly pulled back to $105,378. It has increased by 4% in the past 24 hours and increased by 3.1% in the past week.

Bitcoin Spring Festival Market Outlook

The market has recently discussed whether Bitcoin will rise again during the Spring Festival. Looking back at the trend of Bitcoin during the Spring Festival in the past decade, data shows that Bitcoin prices have all risen:

• 2024 (2/8~2/14): US$44,349 rose to US$52,043, an increase of 17.3%
• 2023 (1/20~1/29): US$21,071 rose to US$23,960, an increase of 13.7%
• 2022 (1/29~2/6): US$37,716 rose to US$42,656, an increase of 13.1%
• 2021 (2/10~2/16): US$46,420 rose to US$50,689, an increase of 9.2%
• 2020 (1/23~1/29): US$8,682 rose to US$9,449, an increase of 8.8%
• 2019 (2/2~2/10): US$3,462 rose to US$3,685, an increase of 6.4%
• 2018 (2/15~2/20): $9,449 rose to $11,786, an increase of 24.7%
• 2017 (1/27~2/1): US$918 rose to US$986, an increase of 7.4%
• 2016 (2/6~2/14): US$374 rose to US$404, an increase of 8%
• 2015 (2/18~2/24): USD 234 rose to USD 238, an increase of 1.7%

This "Spring Festival Market" may be related to the investment behavior of year-end bonuses and Spring Festival red envelopes.

Potential positive factors

In addition to traditional factors, the following potential benefits may also affect the trend of Bitcoin during the Spring Festival:

• Micro Strategy Issued Additional Stocks:Micro Strategy has been approved to issue additional stocks, paving the way for it to continue to increase its holdings in Bitcoin and may continue to increase its positions in the future.
• FTX repayment: Bankruptcy exchange FTX is about to initiate its first repayment to creditors, and some funds may flow into the cryptocurrency market.
• Senator Lummis inauguration: U.S. Senator Cynthia Lummis is inaugurated as chairman of the Senate Banking Digital Assets Group, and his support for cryptocurrencies may bring good news.

Risk warning

Although Bitcoin prices have generally risen during the Spring Festival over the past decade, this does not guarantee that this will be the case this year. There is also uncertainty about the above positive factors, and investors need to carefully evaluate the risks.

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