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Gate.io Research: Analysis of the Price of Bitcoin During Lunar New Year 2020

2020-01-20 14:48:27Read:58444

2019 has been a remarkable year for the blockchain industry. As spring is approaching, the year 2020 is expected to bring lots of hope for a more prosperous future. Last year, 'Gate.io research' released a paper on "The Past Events and Price of Bitcoin During Lunar New Year." The research indicated that although in most cases, the price of Bitcoin grew steadily during Lunar New Year, it was significantly affected by other factors. This year, Gate.io Research will cover recent news and the most prominent topics which have been discussed in the industry throughout 2019. This report will also provide a reference for the historical and future trends of Bitcoin price.

Key Takeaways:

- The price of Bitcoin was driven up by the recent US-Iran tensions, as Bitcoin is regarded as one of the 'safe-haven' assets.
- According to data analysis, the price of Bitcoin tends to increase before the halving, and before and after the Lunar New Year. It is also affected by the economy, regulations, and technology.
- During 2019, Bitcoin price saw the most significant bounce after China’s President Xi Jinping urged the country to accelerate the development of blockchain technology; while the price also experienced the biggest plunge following the senate hearing on 'Libra.'
- The Next Bitcoin halving, which will be happening around May in 2020, is worth paying attention to.

Click here to download PDF report


Disclaimer: The research is a study based on the observed market data. Though we have attempted to be as diligent and accurate about the data as possible,it can not guarantee a 100% accuracy. This research should not be used as a reference for your investment.



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Gate.io
January 20,2019

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