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<p>Bitcoin may surge 20% during the Chinese New Year starting Jan. 29 amid favorable market conditions, says crypto analytics firm Matrixport.</p>
<p>The company says Bitcoin has delivered gains for investors in 11 out of the past 12 years. Soaring market optimism over pro-crypto regulations after <a href="https://insidebitcoins.com/news/ripple-labs-blamed-after-trump-signs-executive-order-for-digital-asset-stockpile-over-strategic-bitcoin-reserve" rel="noopener noreferrer nofollow">Donald Trump’s inauguration</a> as US President also provide a favorable backdrop for possible gains this year, it added.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MatrixOnTarget?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MatrixOnTarget</a> Report📊 – Jan 24: The Chinese New Year Effect: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> +21%⤴️ with an 83% hit ratio!<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/CryptoMarketOverview?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoMarketOverview</a> <a href="https://twitter.com/hashtag/CryptoInvestors?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoInvestors</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://twitter.com/hashtag/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Matrixport</a> <a href="https://t.co/dsqRz8xpPv" rel="noopener noreferrer nofollow">pic.twitter.com/dsqRz8xpPv</a></p>
 <p>— Matrixport Official (@Matrixport_EN) <a href="https://twitter.com/Matrixport_EN/status/1882699870559170671?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 24, 2025</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Bitcoin rose by 26% in 2022 and 23% in 2023 and Matrixport says the Chinese Lunar New Year is the “most favorable 20-day window” for Bitcoin.</p>
<h2 id="china-s-impact-on-bitcoin-growth-over-the-years">China’s Impact On Bitcoin Growth Over The Years</h2>
<p>The Matrixport report emphasizes China’s pivotal role in Bitcoin’s early growth, showing an increase in its share from 1.5% in the summer of 2012 to 10.8% in 2013. By the end of 2014, this figure had skyrocketed to a whopping 70.8%.</p>
<p>The impressive surge was driven by several factors, including “strict capital controls, the availability of capital, the development of large-scale BTC mining operations, and a speculative mindset prevalent among Chinese investors.”</p>
<p>The Chinese tech sector also made a significant impact by building mining rigs and increasing the number of validation nodes globally.</p>
<h2 id="matrixport-bitcoin-s-current-price-shaped-by-different-factors">Matrixport: Bitcoin’s Current Price Shaped By Different Factors</h2>
<p>Matrixport report reveals that the current Bitcoin position on the market is the result of different forces:</p>
<p>“On the technical side, daily reversal indicators reached oversold levels last week, hinting at potential support, while weekly indicators still signal the Bitcoin remains overbought.”</p>
<p>On the macroeconomic level, the Federal Reserve’s strict policies and reduced liquidity create challenges. However, the US Bitcoin Strategic Reserve under the Trump presidency gives an impression of positive support.</p>
<p>Matrixport report also noticed that after the <a href="https://www.federalreserve.gov/monetarypolicy/fomc.htm" rel="noopener noreferrer nofollow">Federal Open Market Committee</a> (FOMC) meeting in December, the creation of stablecoins became lower than usual, which suggests lower fiat inflow.</p>
<p>Despite that, “Bitcoin funding rates are showing early signs of renewed activity,” according to the Matrixport report.</p>
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Bitcoin May Surge 20% During Chinese New Year, Matrixport Says

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