Bitcoin Sees Bull Reversal Ahead of Chinese New Year

bitcoin bull run chinese new year

Bitcoin looks set to test the $10,000 mark soon, as per technical analysis, although some investors fear the Lunar New Year may play spoilsport. Ahead of Chinese New Year holidays which start Feb. 15, Chinese and South Koreans often exchange bitcoin for fiat currencies (to fund increased spending), and bitcoin (BTC) tends to drop in the run-up to the event.

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