January Effect: Why Crypto Altcoins Started 2023 With A Bang – ‘Bitcoinist’ News Summary (Hungary)

Quick Summary:

All across the brutally beaten crypto market, altcoins are beginning to show their first signs of a potential recovery following a nearly 90% drawdown in most assets.

But could the recovery be due to a calendar-based phenomenon called the January effect?

Investopedia asserts that the increase in buying activity is due to investors buying small cap assets back after performing year-end tax-loss harvesting following a price drop.


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January Effect: Why Crypto Altcoins Started 2023 With A Bang - Bitcoinist (Picture 1)

Article Details

Author / Journalist: Tony Spilotro

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-10 @ 18:18:31 (21 hours ago)

News Timezone: GMT +8:00

Ranking: #876 (out of 2781 stories this day)

News Source URL: bitcoinist.com

Language: English

Article Length: 591 words

Reading Time: 4 minutes read

Sentences: 49 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 4082290

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About Bitcoinist

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Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 4 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 16 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #105

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