I think both are true. I guess the lunar new year will not give the specific impact of bitcoin, because it might not encourage people to buy or sell bitcoin in very much. today, the price of bitcoin looks quite stable, and it signifies that, the lunar new year, did not leave any impact on the price of bitcoin.
I have been observing that many people are saying bitcoin price will increase when Trump inaugurates presidential ceremony but the price is in same position. Now Lunar New year celebration there is no impact on bitcoin price. Bitcoin price is increasing only when there demand and supply.