Year of the Rabbit: 9% Bitcoin Gain Predicted for Lunar New Year

• A crypto financial services platform, Matrixport, uncovered a Bitcoin Lunar New Year trading strategy that has yielded an average 9% return between 2015 and 2022.
• This year, the Year of the Rabbit began on Jan. 22, kicking off 15 days of celebrations that will culminate with the Lantern Festival on Feb. 5.
• If the Lunar New Year pattern holds for 2023, a 9% gain will yield a $2,043 price increase by the end of Feb. 1

The Lunar New Year has become a significant event in the Bitcoin calendar, with a trading strategy uncovered by a crypto financial services platform, Matrixport, yielding an average 9% return between 2015 and 2022. This pattern has a 100% hit rate of positive returns to date, making it an attractive option for traders.

This year, the Year of the Rabbit began on Jan. 22, kicking off 15 days of celebrations that will culminate with the Lantern Festival on Feb. 5. The Rabbit is a zodiac animal associated with wealth and prosperity, making it a particularly auspicious time for Bitcoin traders.

Bitcoin closed Jan. 22 priced at $22,700. If the Lunar New Year pattern holds for 2023, a 9% gain will yield a $2,043 price increase by the end of Feb. 1. This follows an encouraging start to the Gregorian New Year, with Bitcoin recording 38% gains year-to-date and sparking debate on the bear market ending.

The Lunar New Year trading strategy has been a reliable source of profits in the past, but traders should always exercise caution and do their own research before investing. The crypto markets are always unpredictable and there’s no guarantee that the pattern will hold for 2023. Nevertheless, the Year of the Rabbit could signal a Bitcoin bull run, and traders should keep an eye on the markets as the Lunar New Year celebrations continue.