In most cases those are just speculative "correlations", be it with political events, with stock market news, or else. And Chinese New Year is not an exception. Even if Bitcoin was traded in China only, why should its price correlate with something like a New Year?
It is as if it's intentional and trying to prove something. China trying show dominance but honestly, they're barking on the wrong tree. The community doesn't give an F (Disclaimer, I don't mean any disrespect to the Chinese New Year), this community will have its way to progress one way or another.
Don't get me wrong. I'm not trying to say that BTC price will not rise in the nearest future. In all likelihood it will. But hardly Chinese New Year will be the reason for that.
In all generosity, it might just add up but doesn't really have a great impact, and if the illustration is correct the February thing is just pure coincidence.