BitMEX CEO, Arthur Hayes, warned the crypto community about the approaching Chinese New Year, predicting a large drop in volatility and trading volume.
BitMEX CEO’s tweet causes commotion in the crypto community
Chinese New Year is only two days away, and the year of the rat is about to start this weekend. This was pointed out only hours ago by the CEO of BitMEX, Arthur Hayes, who said as much in his latest Twitter update.
新年快乐 The year of the rat starts this weekend. Time for #Bitcoin volatility and volumes to nose dive.
— Arthur Hayes (@CryptoHayes) January 23, 2020
However, apart from simply announcing the change in the calendar, Hayes also warns that low Bitcoin volatility is about to arrive, alongside a large drop in trading volumes.
Of course, this is not exactly new, and the crypto community encounters this same volatility of the BTC price every year at around this time. January is historically a bad month for Bitcoin price performance, losing an average of -5% loss over the past 10 years.
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