Analyst: Bitcoin's "January sell-off" is a common phenomenon, and after adjustments, it may reach new highs

ChainCatcher news, according to Cointelegraph, cryptocurrency analyst Axel Bitblaze stated that historically, Bitcoin sell-offs in January are a common phenomenon in the years following a halving, citing examples of new highs in the market after sell-offs in 2017 and 2021:

• 1. In January 2017, a year after the 2016 halving, Bitcoin plummeted by 30%, falling from $1,130 to $784. That year, Bitcoin's price skyrocketed by 2,400%, reaching an all-time high of $20,000 in December.
• 2. In January 2021, the next latest year after the halving, Bitcoin's price dropped over 25% from more than $40,000 to just above $30,000 by the end of the month. By November, Bitcoin's price surged by 130%, reaching an all-time high of $69,000.