Chinese New Year BTC Price Drop
This is not my chart. Couldn't find anyone to attribute it to.
As far as I can see not much has been made about the Chinese New Year price drop that has taken place the last 5 years.
In these years, 23 to 24 days prior to the Chinese New Years, Bitcoin has dropped between 23% to 35%.
In 2019, 26 days before the Chinese New Year, we experienced a drop of over $400 on January 10th. This is very close to the largest $$ drop in 2017, but far from the other drops on a percentage basis.
I remember in 2017 seeing the large drop and then a couple of months later the first BTC ETF was not approved by the SEC and BTC dropped more, providing me my first entry into BTC, at prices I can't imagine we'll ever see again.
Bottom line - we had a drop right around the Chinese New Year marker, set the last 5 years. We have an ETF announcement, that has been several times delayed, due around the end of February.
Could we mirror 2017 results in 2019? I'm holding plenty of fiat, ready to pounce on BTC prices post ETF denial....of course I'll also be a buyer if the ETF is approved.
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