The Lunar New Year is here, and this year it’s all about the Dragon.

The holiday, also known as Chinese New Year and Spring Festival, officially kicked off on Feb. 10 marking the beginning of countless celebrations worldwide.

Originating in multiple countries in east Asia, the holiday is filled with rich culture and tradition that centers around the hope for good fortune and prosperity. Each year, the exact date differs as it's based on the cycle of the moon, though it usually falls between Jan. 20 and Feb. 21 on the Gregorian calendar.

Each year also has a corresponding animal from the Chinese zodiac, based on ancient Chinese mythology, and 2024 marks the Year of the Dragon. The zodiac animal for the 2024 Lunar New Year is the Dragon, the fifth of the 12-year cycle of animals that appear in the Chinese zodiac. The last year of the Dragon was in January 2012, which marked the year of the Water Dragon. This year, however, will be the year of the Wood Dragon.

Previous Dragon years occurred in 1928, 1940, 1952, 1964, 1976, 1988, 2000 and 2012. (Though as the Lunar New Year changes each year, you might actually be a different zodiac sign if you were born in January or February.)

Chinese zodiacs are based on the Heavenly Stems and Branches system, which coordinates with one of five elements (Metal, Water, Wood, Fire and Earth). 2024 is the Year of the Wood Dragon, which previously occurred in 1964.

Other recent years include 2012’s Water Dragon, 2000’s Metal Dragon, 1988’s Earth Dragon, 1976’s Fire Dragon, 1964’s Wood Dragon and 1952’s Water Dragon.

For Dragon signs, Chinese metaphysics consultant Vicki Iskandar tells PEOPLE many changes and opportunities may arise in 2024 as the Grand Duke Jupiter visits your sign. “The year one encounters the animal sign of their birth is usually a life-changing one, and it often coincides with Jupiter's return in one's natal chart,” writes Iskandar in her prediction blog.

Though Iskandar warns of “self-sabotaging behaviors” as the Dragon is afflicted with the “Double Dragon Penalty,” which can cause “self-doubts and self-defeating thoughts and actions” as a result.

Since 2024 is a Dragon return year, Iskandar notes you’ll “have the power to turn your life around for the better” if you stay positive and believe in yourself.