According to Matrixport, an analytics platform, analysts predict that Bitcoin has the potential to gain over 80% during the Chinese New Year holidays. They cite historical data that shows Bitcoin has performed well in the 20-day period around Chinese New Year, having made significant gains in 11 out of the last 12 years. Additionally, analysts highlight that daily reversal indicators suggest potential support for Bitcoin, although weekly indicators suggest it may be overbought. They also mention that tightening liquidity and the hawkish stance of the US Federal Reserve pose challenges for the market, but mention bullish catalysts like the upcoming US-based Bitcoin reserve and the pro-crypto outlook of the new administration under Donald Trump. The analysts emphasize that they have observed this historical trend for the past two years, with Bitcoin prices increasing by 26% and 23% during previous holiday periods. However, it should be noted that this information is not investment advice.



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