Tokocrypto: The Potential For Bitcoin Movement In The Year Of The Wood Dragon Can Be Extraordinary

Bitcoin prediction in the year of the 2024 wooden dragon (photo: Tokocrypto)

JAKARTA - The year 2024 became the year of the Wood Dragon in China's territory, and is believed to bring prosperity and fortune, as believed in zodiac calculations, and this has a major impact on the financial world.

Unlike the previous year's prediction for Small Year which anticipates market fluctuations, Bitcoin has actually surged nearly 15% in the past year, while Ethereum has risen by about 47%.

"When celebrating the Year of the Year, the crypto market seems excited. Although previous predictions suggested caution due to fluctuations that are expected to occur ahead of halling, it can make Bitcoin expectations perform extraordinary performance," said Tokocrypto Trader, Fyqieh Fachrur.

Based on the experience of the last 8 years (2015-2023), Fyqieh added, buying Bitcoin at the end of the first day of the Chinese New Year and selling it for 10 trading days will then generate an average of +9%.

Furthermore, he also said that one of the main catalysts that could create a positive crypto market after the Chinese New Year celebration in 2024 was the Chinese government's own policy.

Where, he said, the potential for an increase in the crypto market this week could be driven by China's economic stimulus. Previously, China's central bank announced a policy easing as an effort to increase growth.

The bank will be cut by 50 basis points starting February 5, which will provide long-term capital of 1 trillion yuan. The impact of China's decline in interest rates on the crypto market could contribute to increased liquidity and investor sentiment.

"The possibility of a large flow of funds can enter the crypto market and increase demand. Increased liquidity often means greater investment in risky assets, as investors seek higher yields, which could lead to an increase in the value of Bitcoin," explained Fyqieh.