Overview
As East Asia prepares for the Lunar New Year and the arrival of the Year of the Snake, it’s essential to reflect on Bitcoin (BTC) and the CoinDesk 20 (CD20)’s performance during the Year of the Dragon.
Hong Kong-based brokerage CLSA traditionally forecasts market performance according to lunar cycles, and this prediction method is relevant to both crypto and traditional market investors.
2024 Highlights
- The CoinDesk 20 (CD20) and Bitcoin (BTC) had a successful year, but the outlook for the upcoming Year of the Snake remains uncertain.
- CLSA predicts 2025 will be full of challenges for markets.
In the past year, Bitcoin saw a significant increase of 137%, while the CoinDesk 20 had an increase of 128%. The uptick in the crypto market was inspired partly by the outcome of the November elections in the U.S.
Challenges Ahead
Despite some positive forecasts, CLSA cautions that market conditions may remain volatile. The Year of the Snake promises unpredictable shifts and potential downturns in early spring, followed by a forecasted rise mid-year. Volatility is expected throughout the year, with encouraging growth likely later in the year, despite potential minor setbacks.
Investors are encouraged to consult professionals before making any significant decisions, emphasizing that predictions rooted in superstition shouldn’t be substituted for comprehensive research.
