Bitcoin has prided itself on not being moved by the normal market manipulators, such as global strife and socioeconomic activities. However, there are times when it fluctuates for obscure reasons.
According to some experts, the January downturn could be no surprise as he attributes it to the Lunar New Year and the significance it carries for the Chinese.
The lead up to Chinese New Year is one of high spending as people book all sorts of travel and holidays, not to mention buy presents. Thus, just like Christmas and December is a time for spending in the West, January has a similar pattern in the east.