Bitcoin traders and investors have been warned to expect bitcoin volatility this weekend due to Lunar New Year celebrations in China. Time for bitcoin volatility and volumes to nose dive," Arthur Hayes, the chief executive of the Seychelles-based bitcoin and cryptocurrency exchange Bitmex, said via Twitter. The bitcoin price has struggled with low volumes for some time. Coinbase"Some think the Chinese New Year may impact bitcoin negatively, as people sell bitcoin to purchase presents," widely-respected economist and bitcoin commentator Alex Krüger said via Twitter earlier this month. "Data indicates bitcoin does not under perform preceding the Chinese New Year," Krüger said, adding the period has historically been "nothing special" for bitcoin volumes.

Source: Forbes January 24, 2020 07:52 UTC