Coin-Turk 20 minutes ago
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Bitcoin 
$105,342 has historically gained an average of 21% in value each year due to the influence of the Chinese New Year. Over the past 12 years, the leading cryptocurrency has experienced similar increases in 11 of those years, with an 83% likelihood of a price surge during this period. Seasonal effects play a significant role in this trend, underlining Bitcoin’s importance in market movements, especially with the Chinese New Year falling on January 29, 2025.
China’s Impact on the Bitcoin Market
The influence of China on the Bitcoin market significantly increased starting in 2013. In 2012, only 1.5% of the global Bitcoin trading volume originated from China, but this percentage skyrocketed to 10.8% in 2013 and reached 70.8% in 2014.
Capital restrictions, extensive Bitcoin mining operations, and a prevalent speculative investment mentality contributed to this surge. The favorable attitude of state-supported media towards Bitcoin als…
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