Bitcoin Forum

It is almost Chinese New Year, next year is the year of the Dog, this is a bad year for Dragons.  As the Dragon is one of the most preferred years to be born in a large portion of the Chinese population are born under this sign. http://www.bbc.co.uk/news/world-asia-16589052

Guessing a large portion of Dragons have withdrew their funds from cryptocurrencies.

Yes this all sounds like crazy shit to people in the West, I will let the hot Chinese woman explain more. 

https://www.ted.com/talks/shaolan_the_chinese_zodiac_explained

Almost all horoscope state a similar thing



 "When it comes to investment, you should give priority to the prudent capital preservation strategy and keep away from the high-interest and high-risk products or investments"

https://www.yourchineseastrology.com/horoscope/dragon/yearly-2018.htm

How much of an impact is this having on crypto currencies ?


2019 is predicted to be extremely profitable year for Dragons, is 2018 the year of purchase low, hold until a large portion of the Chinese population re enter the market?

I think there will be an impact. During the Spring Festival in China, people will sell some of the coins to cash in for their entertainment. But the specific impact is hard to predict because of the poor numbers, but a large number of Chinese may join the cryptocurrency world by 2018 because they think bitcoin is profitable.

The OP makes sense. Chinese and Asians in general, have strong belief in the yearly horoscope.
I am cautiously optimistic the way the market currently moves. ICO's are currently the only place where people can make a good make or brake at this time.

Good luck to everyone in the coming Year of the Dog!

This was talked about already, usually when the chinese year happens there's a drawback on the crypto market, probably due to the fact that they need fiat to pay for all the things that are going to happen, like presents and travelling...

BTC is crash again. Seems Chinese people sell for their new year!

For me, I dont believe that it is the new year that is affecting crypto based on some series of events that are currently happening or that have happened.

1.The price of bitcoin has been falling since last year, I wonder how many new years the Chinese will be doing if they are the one responsible for fall in price.

2. The Chinese people no longer controls the market in the crypto world as before with the series of regulations and bans that they implemented, their dominance of the crypto world for their new year anniversary to start affecting the direction of things.

3. Anniversary come and go but bitcoin price is not a respecter of feelings and opinions. As they are celebrating in China, other people are mourning in some other place of the world, some others are preparing for world cup while others are preparing for elections.

Yes but the prediction states that dragons should avoid high risk investments for the whole of 2018, not just for the holiday period.

Yes, and the price will come back up once the market sways towards everyone else and it will become fairer since before most miners were from China, now at least the smaller miners can get a chance because they not competing with the huge Chinese farms.