As east of Asia prepares to close for the holidays of the New Year lunar and looks towards the year of the snake, it is time to look back in Bitcoin (BTC) and the performance of Coindesk 20 (CD20) during the year of the dragon.
Hong Kong CLSA headquarters has an annual tradition of forecasting market performance in next year based on the lunar cycle, and with some minor adjustments, it is as applicable to cryptography as it is to traditional markets.
Looking back in last year, the sorcerers on the market were right in money. Bitcoin has increased by 137%, while Coendesk 20 (CD20), an index that tracks the largest digital assets, has increased by 128% in the last year. This cryptographic rally is largely thanks to the election of the president of the United States, Donald Trump, last November, which aligned with Stargazers volatility predictions, then a demonstration, in the second half of the year.
The only area where market forecasts lost the brand last year was Ether’s performance (ETH). Citing the funds quoted in Ether Stock Exchange (ETF) and the Dencun update to the Ethereum protocol, analysts expected the dragon energy to turn on the second largest digital asset in the market.
But that did not materialize, and ETH has only increased by 35% during the last year, since it fought to maintain market profits.
Now, a year of the snake. CLSA says that the market is intended for unpredictable turns, since assets, both traditional and cryptographic, make their way during the lunar months.
The year begins with a cautious optimism, since the modest profits driven by liquidity reflect the rough green snake that rises to the trees for a point of view.
However, youth volatility, similar to the league snake that proves its limits, brings temporary falls in early spring. In the middle of the year, the burning energy of the snake of the brown tree suggests a potential increase, raising the markets to heights that are not seen in a long time.
Summer stagnates, according to the stars, autumn brings minor setbacks, but the year ends with a renewed impulse and a constant increase, highlighting the resistance and adaptability of the crypto in a volatile market.
Of course, CLSA also reminds readers to seek professional advice, not the stars guide, before investing, and their market predictions based on the celestial orientation do not count as a research report.
