Examining Chinese New Year Effect on Bitcoin Market

  • Decomposing the time series using 365-days moving average, we observe that BTC prices seemed to exhibit seasonality with repeated price patterns during a fixed time period.
  • Interestingly, we also note that residuals (‘remainder’) had deviated sharply away from zero in recent years suggesting the high level of noise in BTC markets, possibly as a result of increased interest and entry of more speculators into the market due to the price rally in late 2017.

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Bitcurate is predictive data analytics for crypto that help better decision making through data-driven insights powered by AI and sentiment analysis.