Summary
- It was reported that it's not uncommon for Bitcoin to decline in January due to seasonal factors.
- This decline is smaller compared to the usual declines in January following past halving events.
- It is projected that there is potential for Bitcoin to rise due to mass adoption and policy support.
Recently, Bitcoin (BTC) has been undergoing adjustments due to seasonal factors, and the decline is not as significant compared to the past, according to an analysis.
On the 13th, cryptocurrency media Cointelegraph reported, "Bitcoin has fallen 10% this month, but in the past, Bitcoin has dropped 25% to 30% in January," adding, "It's not surprising for Bitcoin to decline in January following a halving event."
Cryptocurrency analyst Axel Bitblaze stated, "Bitcoin has commonly experienced dumps in January following a halving," noting, "Both January 2017 and January 2021 saw declines."
Crypto analyst Crypto Rover mentioned, "Bitcoin has consistently declined at the beginning of each month over the past year," and added, "This decline is just a minor adjustment compared to the past."
Stockmoney Lizard analyst also projected, "This cycle has not yet reached its ultimate euphoria. There is room for a larger increase over the next 12 months." The analyst further explained that mass adoption of cryptocurrencies, pro-crypto policies in the U.S., and ETF fund inflows will drive long-term upward trends.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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