Ahead of New Year holidays (starting Feb. 15), Chinese and South Koreans often exchange bitcoin for fiat currencies (to fund increased spending), and bitcoin (BTC) tends to drop in the run-up to the event.
Boosting such fears this year is bitcoin's (BTC) recent inability to move above $9,000 in a convincing manner. Since Feb. 10, the cryptocurrency has been restricted to a narrow range of $8,000 to $9,000,
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