Bitcoin Forum

I think the bitcoin market will be so boring in the next days with slow price movements because of the upcoming Chinese holidays.
What do you think about these holidays and how it will affect the btc price ?

The bitcoin markets used to be full of frequent surprises. The current market has been slowing down for several days, so the boring days could easily continue in the near future.

What Chinese New Year, 8th February...when Chinese everywhere (including those who invest in Bitcoin) make a grab for cash to stick in little red envelopes and hand around their nearest n dearest?


hmmm.....reckon we could see some action yet likes.

There is Chinese New Year on February 8 closely followed nine days later by the Gox creditor's meeting on February 17. If nothing happens at the Gox meeting Chinese New Year might be the biggest influence on the price, but if they announce what will happen to the Gox coins at the creditor's meeting that will have the biggest influence on the price.

It's possible. I remember last year we had very slow days in February, this year we might see the same routine again.
I'm already prepared. I'm not day-trading these days.

Probably we will see a few days of slow moves then a move upwards, during the holidays people will get money to invest, and some of it probably will go to Bitcoin

little sense. bitcoin majority share of the market dominated china. the owner is mostly used in the bitcoin. Chinese New Year certainly affect the activity of the trader china.

I'm kinda getting bored of bitcoin. We've been to 420 many times. We've tested 300 many times. This is stupid. Bitcoin is too small to be so stable.

Bitcoin is more stable than Amazon and Amazon is 50x bigger. Makes no fucking sense.

Well that's how markets are. It's quite a flawed logic to compare it to an organization IMO.

You know fellas, bitcoin is/was supposed to be a currency, right?  And one quality of a good currency is stability, is it not? 

Anyone?  Anyone?  I think a lot of us have lost sight of this and just want deflation or a boom or whatever.  Boring markets are what I think a lot of bitcoiners want.

Bitcoin should be boring when it has a 1 trillion dollar market cap.

it's interesting to me...

let's see what will happen after feb,8 !!!

because average joe is not interested in bitcoin, there is no real media attention, until real adoption comes in play greater value are very difficult to achieve

you need to be luck and wait for a rich guy that will pump the value...

very interesting speculation. i think it most probably will effect the market. on the other hand chinese were mostly active in the altcoin market and not so much in bitcoin markets.

we have wait and see, anything is possible in bitcoin market!

I know it is i made few coins on trading ltc fot this time they are predictable

For the moment nothing new under the sky. It is the beginning and naturally that cannot be signs of this happening. My personal point of view is that the Chinese market is important but not at that level that most of posters here give to it. These celebrations would be a good test about this matter. If the price will go down that mean that this market has significant power on its price. More will go down and more will be proof about its importance. But only if there would not be other factors which can cause such going down. But if the price will remain the same can be told that this market has not any kind power on it? I don't think so. I think that the movement of price (normally and in such situations when have not action of pump factors) is reflected much more slowly during the happening of the normal factors which affect the price (factors like celebrations). This mean that the period of change must be long (or at least not few) that the price be affected by such kind of factors. Anyhow remain to see what will happen in the days to come. I am very curious.

Well we all know the chinese are in control. If they are out on a holiday, there are no major things to be expected manipulation wise.
They have been running this pump game from they very start with mt. gox. And will continue to do so till the last day.

the bitcoin traders are always aware of the market, there is no holiday for the bitcoin :)

Yeah i think the price will slow movement until next week. After that week the price will rise again fast.
I dont believe that the price will drop back to 250 after chinese holidays(according to trader outside.)..

We might actually find out the true price of bitcoin if the Chinese markets are closed.
Lots of manipulation in those markets.

feb 8? that's more than a week from now and already things've been slow for a couple of days, at least...
it'd be curious to see what exactly is the effect of the chinese holiday though...

You must be new here [/sarcasm]

Are you sure only the Chinese manipulate the market?

I think what bitcoiners are looking for is an upward-trending market, not a stable market per se.

Although currencies tend to be more stable than equities, a currency pair can enter a strong trend based on capital flows and perceptions of economic conditions.

Nothing important will happen for sure, price will go up and down a bit but that happens always. I`m good with boring market, that means everything is ok, no bears and wheals..
If we see price rising after holidays we will know why is that happening, China is awake! In that moment we will see how much big is their influence on btc price.

The Chinese do still make a majority of the trading, if they get bored and feel like buying some more on holiday when they are returning home we might see some spikes otherwise it could just remain about the same some Chinese cashing out to bring money to family while others buying in and investing for higher returns.

Trouble is, stability increases utility, which increases value.

This is an interesting thought. Maybe they will spend extra cash on holiday and it will keep the price "boring".  I think a lot of bitcoiners like "boring" so they can get more.  I also like what someone said about seeing the true price of Bitcoin while the China markets are on holiday.  Who knows!

And I think it will be far from boring very soon. Either it breaks the support and goes to 300 (and maybe even breaks that) or it bounces back - and possibly tests 470 again.