Bitcoin Forum

With the Chinese New year coming, who believes that the crypto market with go down again? Speculating on whether to hold out to purchase more of some altcoins such as VIB, XVG, and looking at other possibilities

It could certainly impact the markets, but don't look to one single indicator as the reason for why things are happening. Often times in crypto there are a myriad of events that are concurrently happening which give rise to how the markets play out, a singular event does not decide the market.

What is so special of the Chinese New Year to bring the market down? I read last week that they are preparing attack against ETH to pump NEO. But for me CNY or every other day, it's the same.

I just remember reading some speculation news that might be a big cash out for the new year but I posted wondering if there would be any truth to a possible dip :/ hopefully not but as you pointed out, many events can impact the market and it's very volatile at times so nothing can really be predicted for sure

I doubt there is going to be any big cash out after such a big correction. Anybody needing to cash out
would have done already last month so there is nothing major to expect from Chinese new year holiday event.

That's ridiculous. Chinese new year won't affect the markets much this year , don't you not remember China has banned exchange of crypto currencies?
Markets are already down but at the moment they are in recovery phase. Boy did the markets not have a swing yesterday. People chicken out too soon.

I think it's already priced in to be honest. Might dip a little but not much.

for sure it will,even chinese government banned cryptoexchanges,people do it with their Hongkong adresses...
Major cryptocurrency holders are asians...As Christmas  chinese new year is same...
People cash out,this is the reason why all candles are red...
I think after 20-25 of february candles will turn to green....

I think that such a drop in the Cryptocurrency because of Chinese new year, but also of the global fall the world index of the stock market. Think i this few weeks we can see the market direction.  Now u can buy many good coins for long investment or fast short trading. Ita can be Ltc, ada, xrp. Holding XVG too - its good coin with x3-x5 potential

Yes, I think it can affect LTC, XRP and NEO more.

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Gambling in China usually picks up during Chinese New Year - there has always seemed to be some cross-over into crypto at the same time.

The big days, will usually give an impact decrease on the price of crypto, as it once did on Christmas Day 2017. People, will have very high financial needs in those days. Almost all crypto in the market found a decline, although not as bad as yesterday and today.

Already the markets are all down, I don't think it is going to be much further any more. It will start recovering soon after CNY I guess.

Chinese New Year, Christmas, Halloween, whatever it is, it doesn't affect the cryptocurrency market.
The most possible scenario here is this: Whales and Pump &  Dump Groups always start P&Ds at Hollidays to cover it as a natural sell-off.

However, the total Marketcap drop happened was just a continuation of the bubble burst from December.
It just "swooped down" faster after the latest news.

This ^^
Doesn't seem logical to cash out now.

Many say the Chinese new year after the coin prices will soar, whether this is true or just the presence of so many issues just that fall nobody knows. but the current price at the low point of the coin all and a great time to buy.

It is not always the case, sometimes the market react different from what others think. Just like what happen last Friday February 2. When almost I read in the forum that they will cut their losses, the market suddenly when up last Saturday. The human behavior on investing is very complicated the obvious move becomes hard to predict. I will predict that during Chinese New Year the altcoins will go Up.

Chinese like to hold on to their investments not cash out for small luxuries. However the bigger players are another story.

I think Chinese people are very thrifty and they are not gonna cash out that much IMO.

Look at the 4 last past years. The dip happened like 20 days before chinese new year so i think the crash is already done for this year.

Many speculation what will happen on the market after chinese new year. I hope their is good news in btc price in the market the price would increase because from the previous days btc has drops so huge. So I hope btc will increase after chinese new year.

Every new year has a new start and this year will not be a different one. As new year bring new luck so after each passing year the market has become more stronger in last 5 years and this year it will be much stronger and better than previous years. So the good time has started for the crypto currencies and market is already recovering the past dips now.

Chinese new year after all the coins will go up, that's what many people say. Yet we look at just how the influence of the Chinese new year the price of coins in the future if it did have good news hopefully will become a reality.

Chinese new year will definitely affect the price of cryptocurrency. whether it has increased or decreased, with that we can make sure to buy some coins in large amounts for investment if at the time of new year china drastically decreased in price. we can prepare from now on.

This coming chinese new year I believe that crypto market will not go down. Instead I was hoping that crypto coins will goes higher again and will not drop off. After this big fall of bitcoin I guess this rate will goes higher.

The markets are all down, after this will start to be again green

Ya true.As like the past years, this time also huge dump in price is happened. So now the time is for pump,so the price will reach greater than 10,000 soon.As we know the Chinese new year on 16th February, the price of bitcoin will reach 15,000$ .Even in crypto news,they stated bitcoin will reach 15,000$ on 18th February.

So, we will check if market really goes deeper within month. I assume this possible decrease as a chance to accumulate big position for reasonable price

I think you are right, the crash has lasted for quite a long time now. Anyone who wanted cash for the Chinese new year celebrations would have already cashed out by now. They won't get much by doing it now, market is already down. Also you should remember that many young people receive money at this time and they will invest it in crypto - for this reason the market will go up and everything will go back to normal

I'm not sure about your speculation, it seems the market still get another bearish and then as you can see market goes to the another dip again. It will be so difficult to get recover. But the official instituion seems to be a serious problem to the crypto because a lot of them are against crypto right now. Only some were friendly with crypto.

I think that the Chinese New Year has a minimal impact on the price of BTC and the market behavior. I guess there is no correlation between this holiday and the fall of the crypto market. People just want to justify the falling somehow.

For me, it doesnt matter wether this chinese new year will affect the market or not.
Because rightnow the market is allready down. Lets take this big drop in market as a chance for us to buy some crytos that are good wether it is a long term or short term investment.
Always be patient because after this big drop, big rise will comback.

Chinese New Year have massive impact on market.
There is no need for FUD ,just to take advantage of this situation and start purchasing!

why always china and chinese? how much percentage of cryto holder from chinese? how big china market?

do not have to wait for chinese new year, now the coins are down, it's time to speculate to buy some altcoin or bitcoin, if I speculate in ltc and eth, it's a coin that I think is likely to go up and allow me to earn more profit,if you want to invest in bitcoin is also good, this is the right time because the position is now being down

I think the time has come for a great time for speculation-buying now is cheap, and after the Chinese New Year you can pick the jackpot

The Asian markets are more heavily invested in the Crypto market than the rest of the world. Look at all the drops due to FUD. China FUD, South Korea FUD, India FUD. Notice how they're all Asian countries.

It is already a tradition:) look at btc charts past years dump ~20 days before china new year, after that few weeks flat and boom happy new year in crypto:) with gifts:)

I think after the Chinese New year will be the growth of cryptocurrencies. From my point of view, now is the time to buy the weak coins.

I am more interested if Chinese New Year will affect any volumes of trading and will the market consider Chinese been off, as they are really celebrating and do not do any business.

This is the most terrible time in the year although it's the most important holiday of the year of China. All cryptocurrency price dump so hard also NEO, the coin supported by China also dump really hard. I hope that this case will not last so long cause I'm stucking all my capital in XRP by buying it at too high price :)))

This can be consider as one of the factor why the price are dumping, maybe Chinese people converting their coins into fiat money for the celebration. Well, I hope that after this all cryptocurrencies will go back to normal and go higher.

I think there is no direct relationship between china new year with the change price of cryptocurrency. but when viewed from the user side. if users from china celebrate the new year maybe they will sell some of their coins to earn money and celebrate the new year. maybe the price will go down because of that ? but that would be a good opportunity for us to buy. because of course users from China will buy back their coins because the celebration of the new year is over and they will resume trading again.

I think there is a possibility that this coming Chinese New Year really has an impact on the crypto markets behavior. The people are cashing out in preparation of the said event. That resulted to price drop. Which is actually good on the other hand, because it gives us opportunity to buy and accumulate more coins while we’re waiting for the price to pump up again.

Its like what happened last new year celebration, and now its about the chinese community celebrating new year. As chinese plays big part of population in crypto, i think it has impact to price drop, people will tend to sell their coins to participate in the said event of new year.

Chinese new year has nothing to do with market crash. Market crash because it has been goes up too high in december 2017 and now its time to goes down but we will see strong support on $8000 if we break that support we will goes to $6000 but it is still above last year so i dont care about crash to that price. I start buying when bitcoin price is $500.

In any case, growth is not expected until the end of their new year. To withdraw money for holidays to them too late. This is most likely a loss. Therefore, they will not influence the course.

Do you really believe that china NY dropped price? :) Its a simple manipulation of giants (with reason china NY). How you think if china people exchange their crypto into fiat for buying some NY items - do they will have money for back in mining? For now profit from 13TH/s ASIC is around 150 ye/mo and its falling. In few month need to use 100Th/s ASIC for good profit. And if upgrade ASICs farms for profit target (>~500+ ASICs) it will costs some money ...  :P

But I don’t won’t anymore mishaps around me. Also, I am very much happy with this downfall. Because like Eric, I also think it is basically an opportunity to all those who wanted to invest in bitcoin and other crypto coins but could not do so before due to high rates. All that happens has some good reason behind it. We need to be a bit optimist and patient. Sooner or later, all coins will be soaring up so stay cool like me, boss.

in the full possible that for the Chinese New Year period, the market will go down.
and the prices for the purchase of coins will be acceptable in order to buy them.

There is a lot of spending before the chinese new year and many of them are making purchases related to their lunar new year festivities. Many chinese are also holders of cryptocurrency particularly bitcoin and they might cashing their bitcoins to pay for the holiday expenses. But it is really hard to prove if their new year spending can also affect the price of bitcoin or any cryptocurrency.

The market has already fallen very much. Most chinese holders also have the red. Large holders closed their positions in December 2017. The current holders will not come out. This already have no sense.
Only hodl!)

It is true that there are some same cycles every year. Period before Chinese new year is one of them.
But everyone should ''feel'' the market and invest wisely.

After the Chinese new year seems the investors will come back and make the price of coins will soar again, we just wait for continuation after Chinese new year like what.

the market will fall every time the Chinese new year coming and this year is no exception, but i believe the market will rise in two or three months, there are so many people getting involved in blockchain world now!

Were not so sure what will happen in the market after Chinese New Year. Maybe after Chinese New year will be the start of the cryptocurrencies to be in green days. Yes so hold a better things will await us.

the market is already in the green zone, I think after the Chinese new year we will return to the indicators for January 1

I think you are wrong - chinese new year was one of the reason of recent dip, 100%. I read that people in east Asia spend every year around 100 billions USD for this lunar new year!! And some portion of this money was withdrawn from crypto - there is a dip in January every year and it is because of it!!

Chinese new year is like our christmas. My wife is chinese and we will celebrate. I know from a few of their friends, that they have taken profits already in january.
So it probably won't go that much lower, but instead after that we might see a big surge in volume again. So just hodl guys, we are going up very soon I guess!

China is big but I do not believe it or Chines New Year will influence crypto rate

Lunar New Year, exciting topic! In Vietnam we are the traditional Tet. Everyone is well prepared to welcome a prosperous New Year filled with joy and happiness. It is possible that people will suspend bitcoin for several days. Personally, I still spend my time with bitcoin every day.

Agreed, even last year when christmas is almost there the prices of most coin got pumped up, i think there is no connection that much with these global events since there's a lot of people remaining that are still in crypto game, it's like excluding all chinese investors during that time there will still a million of traders and investors that are actively doing crypto trading.

china just banned over sea trading so a lot of people are probably gonna use exchanges based in Hongkong as the Chinese consider them
as a part of China so Binance or Kucoin could get a larger pump since all the chinese are probably gonna switch over
so its not completely banned

Can't really say that CNY is the main impact power, but the most important point is every year at this period of time the cryptomarket badly goes down. You can just look at different years graphics and you will immediately notice that there is a consistent pattern.

Honestly my friend, I don’t have any more expectations from China in this matter. All I have been receiving from China was just a cause of defaming and devaluing bitcoin. I just hope what you said becomes true but do not want to fill my head with some hope or expectation from this country. Bitcoin does not need China anymore to gain value. It is going to gain value by itself in coming days.

They made it harder with the crack down in China to invest in bitcoins. I think there will be some recovery but not as large as an effect as in past years. Since many people will not be able to or find the time to get around the ban on bitcoin in China.

Why is everyone so worried about the Chinese New Year? It absolutely does not affect the cryptocurrency market at all, there are more fundamental events and things that move the market.  8)

Yeah i do belive that it will have some efect but not so much,btw new chinese year is year of the dog so we can put that teory to the test if china start buying large amounts of doge coin ;D Anyway almost all markets have correction in february

Probably not.
The down thing for lunar year is all over I guess. After the holiday ends, you can expect some rises.
I guess.

I think that there is no any correlation between Chinese New Year and the behavior of the market. I still can't understan why so many people think that the last fall was caused by Chinese NY. It's silly))

From my analysis  the crypto market was affected when coming to the Chinese New year and after this comes to pass people should expect prices to rise as the chinese will be back on the market and demand and price will rise as they will be off their holidays.

The big falls on the big holidays. Investors are investing in cash.

I think Chinese new year can't have effect on the market more than last fundamental events like SEC regulation, South Korea, Facebook and others. It seems like fairy tale for newbies.

I think Chinese New year have no effect to the bitcoin together with the other crypto currencies. Because crypto currency in their are was banned together with the other opportunities. It's a big mistakes if we still believe that thru help of the Chinese new year bitcoin value will growing up.

It can affect the market since most of Chinese people owns cryptocurrency, but as we all know this market will move no matter what happen in the long run. But i think the recently dump is more on the correction pattern which is good so we can bought at a lower price, eventually the price will go up.

For the Chinese New Year this time, i don't believe the crypto market will go down again, they will move up even if only a few percent, except the NEO.
NEO will find a slight decrease this time, the NEO we usually call as china ethereum is actually being in a big pump, it's just (the situation, telling other) that the pump this time will collide with the mass sales of done by the citizens of china.

In the meantime, pretty much everything is red again

I am eager to see what's the market effect of the Chinese New Year. We should watch the price by that time if it will affect the cryptocurrency price. Thus, whatever happens let's catch to buy at a lowest price for us to earned profit.

I hope the new year china fleeting because the price of coins will soon be recovered back to the original price or even more can go up to a higher price.

china new year will soon be passed and we just wait for the market back good and it will definitely happen. so we can wait in a while until the market returns to its normal position.

Is there any possibility that bitcoin will regain its loss after this chinese new year? All my coins are in a bloody red for almost a month. I dont even have time looking altcoins prices.

The fact that the market fell still long before the Chinese New Year does not convince you that their influence is minimal on all this. It would simply be a small correction of no more, and then a complete collapse of all coins and until the end even this is not visible.

There is always the possibility that bitcoin price will regain after Chinese New Year. You are not the only one suffering this lose with the current rate now of bitcoin that falling down. I think we can experience again of huge price of bitcoin in the nearing time.

I agree with you that the price of bitcoin will rise rapidly in March this year. If we look at the trend of bitcoin in recent years, we will find a law that every year the price of bitcoin will drop from December to March.I think this is related to the Chinese New Year

on my side I am very impatient that this new Chinese is finally over.
I think it really has a lot of impact on the marketcap.

The total marketcap of crypto usually dump before the chinese new year. In 2018 the chinese new year is going to be around the 16th of february, I expect a recovery after it and maybe we will reach an ATH. But I am still afraid that people will freak out during the G20 summit, I heard France and Germany are planning to regulate bitcoin and all the altcoins. Maybe they will create more laws to tax all our crypto currency gains ?

as we see the market is falling. Maybe because of the new year in China, maybe not. But the fact remains that it is quite possible that due to the new year in China

Everyone talking about Chinese New Year.

Not only in crypto, also in industry people are waiting for recovery or price changes because of China. I personally expect a big pump. Not only because of China but because so many people waiting for it and will jump on the train as soon as the first sign of market upside will reveal.

This will become something like a self fullfilling prophecy.

Does anyone has a valid figure which percentage of crypto invest comes directly from China?

I think Chinese new year doesn't have a relation to altcoins and bitcoin drops but rather it is because of what the normal market flow. To hold is it base on you as holder. Even there is no Chinese new year, I think prices still goes in up and goes in down.

Chinese "New Year" was called as Happy Lunar Year ,bro . I don't think there is anything related from the New Lunar Year vs bitcoin's drop at all because the drop of Bitcoin's price is cause of the money laundrying scandal at South Korea so it's has nothing to do with New Lunar Year.

According to my prediction one day the Chinese government will announce the year of coin and this dream is very close

yes, when the Chinese holiday finish, everything will be recover. we shout not too worry about altcoin future. they are preparing for the new growth

I am pretty optimistic so I am predicting after Chinese new year we will see a huge pick up of crypto. A lot of Chinese investors take 3-4 weeks off and primarily focus on family and health. Personally, I haven't traded since January 2nd, so let's see what happens.

hopefully with the passing of chinese new year the price of all coin can stabilize back dev. because it is not just crypto but also among industries also waiting for a recovery or price change due to China's new year.

Thanks to this market, we have to follow the tax policies of India, China's Christmas gift-giving period, Japan's mining perspective and much more in part.

not too sure .
i mean , how people think some big day event will make some changes about market.
on one side , people think crypto its like investement.
on another side , people think crypto its like land of money.
and many many side again.
so i just speculate if that really happened , some people over there will try to take over it.
or vice versa.

Chinese New Year is only a few days away, but I think it affects the exchange rate of the cryptocurrencies have ended, and within half months the market will recover entirely, and the price of cryptos will increase again quickly. The cryptocurrencies market will return to its heyday.

Past years there is some similarities or pattern if you like with market drop and a Chinese new year.
Coincidence I think not. Is it related to a Chinese new year, not sure.

Maybe but there is a strong evidence that this dip is made by the incoming chinese new year.
Prices on the past is only a coincidence

I'm not believe crypto are effected in this coming Chinese new year, because the Chinese community are not legit to spend cryptocurrency in their country and crypto as i know if i'm not wrong are still ban in china so what the effect for cryptocurrency about Chinese new year.

I think price drop in all Cryptocurrency because of Chinese new year. chines have Big Community, and I'm sure they well make affect crypto price in their new year event.

They still hold the bitcoin by trading abroad using an external exchanger. Like Japan and Singapore, they even use VPNs to access such exchanges.
maybe this will have an effect.

The New Year will be only among the Chinese, and all the rest will work. I do not think that this will negatively affect the market.

Would be seeing the impact already if it were to cause a downfall, they would cash out leading up, not on the day then wait for bank transfers to clear etc.

i think is just correction  following the fact that most coins pumped around january

it is always like this during chinese new year that the crypto market is going down but it always comes back in the next months that is coming.

This is irrelevant. China already banned cryptocurrencies, so how does chinese year still affect the price of cryptos? The recovery stage of the china issues was done alread, so i think it will drop again just because there is a chinese celebration.

It looks like Chinese New Year give everybody much excitement on what will happen on that day to crypto market on or before that day. By the way I think crypto market have a relation to Chinese New Year if almost bitcoiners wait on what will be on that day.  So far as of now it will happen sooner it is approaching the day. Almost at hand. I do not have yet any idea if what will happen to crypto market if the prices will increase or it will even decreases more than today. Hopefully what ever will happen it will be good to everybody I wish.

Maybe we should expect a slight market recovery, because many participants will back in the market after Chines New Year.

The total marketcap of crypto usually dump before the chinese new year. In 2018 the chinese new year is going to be around the 16th of february, I expect a recovery after it and maybe we will reach an ATH. But I am still afraid that people will freak out during the G20 summit, I heard France and Germany are planning to regulate bitcoin and all the altcoins. Maybe they will create more laws to tax all our crypto currency gains ?

I think this "Chinese New Year" have little to no actual impact.
Except for perceptions of people. After the new year, markets will go up, if for no othe reason, because people assume it will rise

Agreed, also agree with our points that people would have cashed out approx 20 days before the chinese new year!

Impossible to discover what really happens, for example this time next year it could be a bull market you just do not know!