Bitcoin Forum

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

Do you value news or technology and utility ?

Agree that it is also one of the factor that causing price falling like what happened at the Christmas time but now there are lot of factors included at the same time which resulted in mass price fall.

But now I don't have any idea when the price will recover,after the Chinese new year?

it seems that the Chinese New Year does not affect the bitcoin price, just look at other holidays such as christmas and eid al fitr and so on, all not affecting bitcoin prices.

I value technology, but it does not mean that market do the same. News play the biggest role in crypto currency life, one day can just literally kill a particular coin. An example would be Chinese new regulations or something like that.

How much is required to purchase gifts for family ? I do not think one has to take out Bitcoin investments for such gifts. Funny excuses people give for decrease in price.

While it is possible there will never be a single culprit when it comes to these things. It is effecting the price of Bitcoin for sure but we do also have to realize Bitcoin made a huge rise in December and in January it wasn't going to go another 300% higher. What is happening now makes sense, I would imagine though sometime in Spring this bloodbath will be over.

Every year christmas and chinese new year doing some changes in the marketcap. This happening since the 2013 so you do not need to worry that more dips in the market. Everything will recover a week of time. If you watch the price changes in the complete one year. You can find where I am standing on this point.

BTC rate make the more panic to all their investors but everyone here do not understand the crypto currency and leaving out from investment. If you are in you will one the millionaire in crypto platform.

So you think that Christmas market is not big enough ? lul  Perhaps you should also pay attention to the population of China and make new calculations yourself before writing any reply.

I think there may be a certain degree of impact because investors in China are actually quite numerous. Although China is still banned, and the Chinese New Year likes to buy a lot of things and needs cash, most people probably sell a bit of bitcoin Getting money can affect the bitcoin market.

The Chinese New Year has a limited impact on the digital currency market!

The main impact is India, South Korea's policy influence!

The market started to fall in January, and the Chinese New Year is still one month away!

Chinese are mining bitcoin largest in the world

Maybe Bitcoin has little effect on national day, like Lunar New Year because I think bitcoin keeps rising, so it does not matter

Strange question))Why?because this is the main!! reason of influence Bitcoin) Every year,during Chinese New Year even Fiat money falls, not only bitcoins))

It won't. It may affect the price a little bit, but I don't think it will deviate the price so bad that it will cause another panic sell. Even the christmas season didn't affect the pricing so bad. Just a little spike and a  movement by a small margin. Chinese new year won't affect the price of bitcoins that much.

Yes as early years,Chinese new year too would have an impact on bitcoin price.But what's the difference is that in previous years only Chinese new year had the most impact on its price but this time its an additional factor.Its because bitcoin is now universal and not dependent only on China as it was on early days.

Now a lot of bad news that tells me about bitcoin that makes bitcoin prices go down, and also I think the Chinese New Year also greatly influences the price of bitcoin because it is true that what you are talking about is that many Chinese who withdraw to the needs of the Chinese New Year be patient waiting for bitcoin to rise after the lunar, i'm sure it will happen.

Do you guys know when new Chinese year ends. If I am not mistaken it'll take 40 days. It's too long if it is. In my opinion after new year we can see a good movement. We are talking about a really big country so that it'll definitely influence positively.

there saying that the Chinese which are major players in the market are pulling funds from this market to buy lots of gifts and to make preparation as there new year approaches this could definitely be among the causal factors that contributed to the decline i suppose next year we will be able to say with some certainty as to the real influence if any the Chinese new year has on bitcoins .

I do not really know about that. But I think it will quite effect the country of China. I do not think this event is too influential for the world, but who knows someone is using Bitcoin for the transaction tool. If on the day of the feast there are people who give angpao or some money to others by using Bitcoin, maybe this will give some influence on Bitcoin. All I know, usually the Chinese will give some money to their relatives and some cake-shaped food to many people. I think there are also people who distribute their money to the needy and the poor. I know all of that because I am half Chinese. My mom is Chinese and my dad is Indonesian. Anyway, I wish you have a good luck and God bless you in this Chinese new year.

I think it will have a little impact on bitcoin price in the market because it is holiday and for sure people who invests in bitcoin will surely hold their bitcoins not until the day of the chinese new year. Maybe the price of bitcoin will dump or pump because Chinese are smart and wise when it comes to handling money. They know how to play it in the market.

China banned bitcoin in the early part of last year. As in closed down all the exchanges and told people they'd be jailed if they are caught trading bitcoin.

The Chinese were never major players, their volume was faked. And after they banned bitcoin, it soared, proving that the demand was not in China, it was elsewhere.

I don't know why people keep mentioning China as an influence - I guess they're addicted to China FUD stories.

there is a possibility it happens, chinese new year can affect bitcoin price. in addition to bitcoin users in the country of China is very much another reason is because the Chinese state plays an important role in the development of bitcoin prices

I don’t think Chinese new year affects the value lf bitcoin. Just like another ordinary day or month, bitcoin is very unpredictable and we don’t have enough basis to know why its value have fallen or risen. Also, China banned bitcoin, so the demand of bitcoin in it is low.

There is a possibility that bitcoin will recover by this upcoming chinese new year, maybe some chinese millionaires will try to invest in bitcoin too now. Some players might be pulling funds for bitcoin. This would be a great push for the bitcoin to rise back up again.

In my opinion Lunar chinese new year really has an influence on the price of bitcoin in the market since, as we all know that Chinese are preparing enough when they have celebration what more in their new year so some of the investors pull out btc because they need money to prepare and buy goods for new year,. Also i can say that after the Lunar chinese newyear there will be new investors in crypto.

hopefully with the new year Imlek can push the price of bitcoin and back again so that bitcoin popularity increase again

In my opinion no event will ever influence bitcoin, what was happening in bitcoin price is a matter of supply and demand fluctuations, bitcoin is becoming more popular around the world and I'm sure a lot of people are now looking into bitcoin investment after seeing the trend in fluctuations bitcoin made in past years, and since we know there is a limitation in bitcoin supply adjustment in price must take place. It has nothing to do with events or current status of some countries.

I think events have proven to have very real impacts on the price of bitcoin. Markets are impacted by the decisions and thoughts of market participants, the key example of this is christmas, every year bitcoin seems to sell off.

Chinese New Year is the same as Christmas and New Year! It's a very important festival!

But as early as a month ago, the digital money market was depressed, and most Chinese would not quit if they lost money!

Now they are waiting for the transaction in March, and I think the market will recover in March!

I think that could be after-Xmas general economic decrease (well maybe mixed with pre- Chinese NY) which influenced cryptocurrency.

I think when feng shui will be favorable to Bitcoin we might see a surge in the prices. I read an article stating this "For speculative investments, he says, “The value of Bitcoin will likely rise further, however, there will be wild swings in 2018.”

Read more: http://usa.inquirer.net/8905/astrologers-2018-dollar-drops-robots-sex-rise-bitcoin-swings-etc#ixzz56wwRmq41

It is a true that Chinese new year influences bitcoin price. just like Christmas and new year holidays. many people are withdrawing bitcoin and convert it to fiat for their holiday expenses such as gift, tour , etc..

We must see a price recovery on march. ann we are all waiting for that.

it may be because most of the world's bitcoin power trading and mining is concentrated in China.

yes it does... price will go up after 16th

I guess, some people are crazy when theirs an event coming but I don't believe in that kind of way.

not only chinese new year, but i think the bitcoin price fall because fud that spreaded.
that makes bitcoin holders sell their bitcoins, so the price fall.

True, china plays a big part in the world's economy and so does in the cryptocurrency they even expected btc moon to happen during chinese new year period which we may see bitcoin to rise again in its market. I think these events greatly affects the market regardless of country.

I dont know what will happen after chinese new year. I heared some of my friends talking about bitcoin that it will rise after chinese new year. How i wish it is true.

Thinking of the effects of new year on the price of bitcoin (not just bitcoin but other stocks as well) the price tends to go down then increase again after the new year. for both the regular new year and the Chinese new year. We cant really be sure how bitcoin price will behave considering the overall news and the banning and the regulation impending.

I think it does have a influence, but it only reflect in the data, a month before the event <because people buy gifts before the event> and then a month after the event. <People might have invested too much in gifts and have less money to invest in Bitcoin or other Crypto currencies>

This is why we see a dip in the price in January and slow recovery in the price, from March to the end of the year. ^hmmmm^

Yeah its not the event that matters but the way market react because of those events, like in Christmas people tend to sell their coins because they need to buy gifts or preparation for many parties that they will going to attend or host. Because as people continue converting their bitcoin, the demand decreases and so the value drops

if the Chinese state has legalized bitcoin it could be chinese new year become the gate of business in that country until spread to world trade. but the Chinese currency is struggling to control the world. if investors see the development of a good crypto exchange rate could be collaborated to strengthen their trade and the world

A lot of event affects the the price of Bitcoin. Like New year and Christmas. China is one of the most biggest investors of Bitcoin and even other digital currency, I believed that Chinese new year influence that Price of Bitcoin. My prediction  price of bitcoin will drop before  Chinese New year. A lot of of chinse will convert bitcoin in fiat in the next day.


#Datarius

Yes, I think Chinese New Year affects the price of bitcoin. The Chinese have sold bitcoin for a lot of cash to celebrate the Chinese New Year, which will lead to a brief crash. When the Chinese New Year ends, the Chinese will return with their money, and the bitcoin will return to normal again.

I don't think so, it's just a common event held every year by chinese people and it has nothing to do with the development or operation of bitcoin.If we're pertaining to it's influence to bitcoin through market i'm afraid that might not be possible.The value of bitcoin depends to it's macro environment factors whether it will increase or decrease in given period of time.Yet,we can't set aside the fact that it's value is still depends to it's demand  and supply in the market

I do believe that the price affects on bitcoin prices if there's an event-celebration, but that's not a big deal at all because crypto is 24/7 high volatility market perhaps the community in other countries can trade it manually. Well the market is to young. We should wait for the next few months to pump. Just hold!

Yes, I think Chinese New Year has a big impact on the price of bitcoin. China selling bitcoin to celebrate the New Year will reduce the price of bitcoins.
 At the end of the New Year, they will buy bitcoins with a lot of money.