RATE Group | Bitcoin Volume Will ‘Nose Dive’ as Chinese NY Approaches
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Bitcoin Volume Will ‘Nose Dive’ as Chinese NY Approaches

23 Jan Bitcoin Volume Will ‘Nose Dive’ as Chinese NY Approaches

Posted at 18:53h in Bitcoin News by

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BitMEX CEO, Arthur Hayes, warned the crypto community about the approaching Chinese New Year, predicting a large drop in volatility and trading volume.

Chinese New Year is only two days away, and the year of the rat is about to start this weekend. This was pointed out only hours ago by the CEO of BitMEX, Arthur Hayes, who said as much in his latest Twitter update.

However, apart from simply announcing the change in the calendar, Hayes also warns that low Bitcoin volatility is about to arrive, alongside a large drop in trading volumes.

Of course, this is not exactly new, and the crypto community encounters this same volatility of the BTC price every year at around this time. January is historically a bad month for Bitcoin price performance, losing an average of -5% loss over the past 10 years.

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