Bitcoin Forum

The upcoming February 15 is China's New Year. Many people think that ETH would therefore another wave down, even propaganda to fall to $ 600 $ 700. This is a frightening news. Regardless of whether the news is true, I still believe that because many people sell ETH in exchange for CNY. Cause a little fluctuation, do you think so?

I don't think so, in fact Chinese New Year passing, will push prices up if anything. It's often assumed they cause prices to fall and that's because people sell to fund travel/gifts etc. After the Chinese New Year has passed many who sold their crypto will look to re-enter the market and can push the prices upwards.

All these believe of Asian festival affecting the prices seems to be something the market price intot he prices of these tokens, we all know the impact that part of the world on in the space, I won't be surpise to see the price dipped, I aslo saw one TA forecasting the price of Ether testing $400 range soon

I do not think the ETH price will be affected by the Chinese. The Chinese are not allowed to trade by the government.

The China may have major influence in cryptocurrency before but I don't think it does now. With the way the Chinese government where banning ICOs, the Ethereum price still pumped to $1000. I think what might cause the down price of Ethereum will be low involvement in ICOs and also if Ethereum network is may experience another unstableness.

As of today ETH has broken triangle pattern in a 4 hour chart. Looks like a bullish indicator as of now but it completely depends on the BTC movements and FUD less environment. I'm going to see $1500 ethers soon anyway $1300 also looks more doable. This might happen before Chinese New year and some small pullbacks before new year probably 3 - 4 days before that.

i am really very curious about where you take this news? where did you read this or where did you see this?

there is no sucah an info anywhere. please give true news to people.

I do not think there is enough basis for this news and analysis, it is more of an attempt to create fud to buy cheap, i personally do not believe in such posts, if you are holding for long term then it does not matter.

I don' think it will decrease to $600 or $700. Its value is good, even I don't think it is going to crash. But it may fall due to the different thing.

This is one of the stupidest things I have heard for a long time. China gets blamed for a lot of things, but Chinese New Year? Trust me, if anything happens, it will be the rise of alts. I am not a defender of ETH for any reason, but it is not only held by Chinese people. Besides, people sell off Bitcoin when they want to liquidate, not ETH. Not many fiat converters yet willing to buy ETH, and not for any new year or lunar new year.

But if it drops to $600, guess everyone will buy back?

It's not the dumbest theory we've had around here. Usually around Christmas time all coins will drop as people cash in their bitcoin to fund gifts, parties, and celebrations. China doesn't celebrate xmas so their major expense will take place in February for Chinese New Year. If they cash in their bitcoins then there could be another dump, but hopefully regulations will stop them cashing in and force them to hodl ;D

If we do base on Technical analysis then we would really able to see bullish trend on 4 hours time frame but not totally clear on 1 day TF. When we do put up fibonnaci then those ranges is really achievable but asking for a Fud less environment wont really be possible. Anytime there would be news that would affect the market.It might be an independent market compared to bitcoin but it would really be entirely be affected depending on the news surrounding around crypto market.

No-one really knows, what happens next. I think that the market cap would likely fall by 20%  but will go up in March.  ONLY  HOLD! :)

The fall of January is a recurring theme in cryptocurrencies, since people who celebrate the Chinese New Year, also known as the Lunar New Year, change their virtual currencies for fiduciary currency.

It's just a general decline. I do not think it's anything else. ETH continues to strengthen.

China's are favoring NEO in last months, so it's possible to see an attack against ETH. But ICO's are still preferring ETH so it will recover very fast.

This market has always been the opposite of what was expected. It will be the same in the future and this time. In China year, the price of Ethereum will increase.

Actually we don't know if the price of ethereum will totly decrease the price because we not on that day.  For sure this february 15 we can answer that. Ethereum price is $1000 plus and for me if you asking me about the possible price is $2000 or it will become doue or tiple the rice of this coin in the next month. Even the price of the ethereum decarese in the february and goes down at $600-$700 it's time to buy because for sure it will recover after few days.

The Chinese new year is real and during that time the market used to cool down in the past when China was leading in terms of volume but the mantle is passed on and there are other countries who have big volumes and there are more people now compared to other years,so it is highly impossible to see a big correction.

I don't think so, since a lot of ethereum volume is in the south korea exchange site and it's not in the china. But about a little liquidation  caused by china's new year will be there. It seems to be true story mate. But the fact that crypto is in the green area right now and how ethereum is grow more and more.

We already saw so many things going on in 2018: India, Japan, South Korea...you name it.
Not sure why Chinese New Year should effect ETH, maybe someone wants to buy a lot of cheap ETH heh and that's why making that FUD ))

I think it possible to see some more dumping in february. But fud is too big than what is going to happen.
Basically we are already in huge bear trend noone would love to sell out their coins in this time.

My opinion is, I don't think ETh and waves will down in February because of china. because probably it won't effect ETH and waves price. Now eth is growing superbly today 28 January 2018 ETH price is $1200+ according to this position i think ETH and waves price won't down.

I have to ask with the current market state, would you cash out for gifts? I wouldn't!
Not sure if it'll be much better in Feb, the Chinese investors who have any impact won't sell out at a low, they've probably already sold before the correction.

I could see some Chinese traders slow down or go offline to celebrate the new year period though, this could have some impact.

Probably be a slower than normal day or a few, but I highly doubt we'll see a big drop in prices like Eth to $600-700

i have a thousand and one reason why i think ethereum should go down, specially in long term. including centralization, lots of bugs, scaling issues, network issues, expensive translations, expensive smart contract creation, no usage, better platforms, ...

but i have two reason that means it may not go down: deep pockets + lots of hype.
never underestimate the power of banks with a lot of money to throw in, and advertise the coin so that many start buying it up like crazy.

I'm not too sure about this speculation because most of the time if there are special events in the lunar year, like the Chinese New Year; most of the coins usually increase because some investors like the Chinese businessmen are investing a lot on coins they think will bring them good luck. They believe in superstitions or the culture they got used to so they also apply it in trading.

I hope you are wrong. There has been too much FUD lately and the market cant seem to stay on the upward trend for 2 days in a row. 1 days it goes up and and then falls immediately on the 2nd ???

I do not think China's New Year will wave down eth.

I think in the lunar new year, Chinese peoples will sell a few coins to shop some things and they were able to rest during at holiday time. Although China is a large country and hold pretty much ethereum but t don't think selling some of their ETH too much interference to eth price.

I don't see that as the case. On the other hand crypto is very volatile. Anything can happen very fast. I noticed the ranks on the market cap. I am wondering if most top 100 on the list will remain strong 1 year from now. Eth is not immune. Look at ripple and then see how ripple fell to number 3, and so on.

i dont think so, ethereum was so many supporter and so many project in ICO, just china supporter may be just a little effect.. co founder eth says this year price 2x or more...

Let us say China is one of the biggest country and one of the  most populated places of all, one of the most advance country with advance technology and have a massive production on tangible products.... Yeah China has a big factor when it come to business or in every business, they also have a huge factor to bitcoin or crypto world, but I thought China is against it.
Hahaha

Perhaps little by little they will open up to our world, the crypto. We can say joiners from China will have huge affect on the ETH price, if little joiners the price may stay the same, or slowly go down, but if some of them will associate with us then it will be another topic.

I dont think so, but it ceartainly can have an effect. But eth had a strong buying wall around 600$, then rebounced 50%+ from there. No reason to panic, not even next time. What you want to do, is to check the buying wall, and and according to that.

It is very interesting topic to read specially today as 16 february
lesson we can learn
1) legendary and big coins guys are not always right  :P
2) it is easy afterwards to say "shit i should have seen it "
3) i don't have a crystal ball so only things i can say good luck to all including me ;D

This is ridiculous. Is there only I don't see the connection between the Chinese New Year and the crypto currency? I think that you don't need to believe in these rumors, but continue to use and trade ETH "as always". It's difficult to knock off ETH from the intended path.

It seems to me that the Chinese New Year only positively affects the growth of cryptography. always on holidays crypto-foreign exchange market is growing and this is a fact

For me it will be completely different. Ethereum is too big for Chinese people to change its price. I think ethereum will be only growing

I feel like chinese people affect markets lot many times but latest movements were like -%60 +%25 or something. It cannot be affected completely by one country. It is impossible I guess.

I think the price of ethereum will go down because of china. As a large country, china is very influential in altcoin and cryptocurrency. But calm down, for you ethereum investors, just bear it, because in the next few weeks the price of ethereum will go up significantly. However, in fact, only from China, but the United States is also very influential in the world of this cryptocurrency. So it does not matter whether ethereum will go down due to China, because it is guaranteed in a few weeks ethereum will rise again. thank you

 it didnt happen.

eth will be the new king.
i think it will pass btc in 2019. its price will be 20000 dollar and btc is 15000 dollar.

I think max pain for ETH will be 600 USD. Because so many hedge funds are now in this game.

And after Telegram ICO everything will change. Every big institional investor will ask themself what is their crypto strategy and prices will start inflating more and more again.

$600 to 700 USD worth of ETH is not a bad amount price mostly if you are an investor and holder last year, check the price last November, it ranges from 200 to 300 USD goes up to 1300 plus then it goes down 750, your still gaining from the price decreases as you can buy cheap ETH even bitcoin from this events.

Just don't listen to them, they are quite annoying as they are spreading the same sentences and accusations against cryptocurrency over and over  again from the past year's, there's nothing new from their gimmicks just treat it as an opportunity to buy more ETH, it is proven that crypto has a lot of gains mostly from the established coins from the top.

I do not think this assumption is true. It's just moving in line with market conditions.

It is possible to adjust many news to the market, under the prices, but in fact this minimal influence. The main thing is that people think at the same time, if they panic at the same time and go out then it turns out a big recession, but we can not influence them.