Bitcoin Forum

So, what would be the effect of Chinese New Year in the market on Feb 16? Any thoughts? Is it a big deal?

Edited

did you mean 16 feb ? i think it will affect so much, every year since 2014 chinese lunar new year always affect the market, march will be a bullish month

Maybe it will make it higher since it is one of the major events which alot of people was influenced with chinese culture (mostly asian countries). I guess it might have moderate changes unlike the Christmas or New Year holiday thing.

I also think that March will begin a slow growth of bitcoin. The Chinese will begin to return their money to the market. By the way, today the dogecoin started to grow in price. Not that the Chinese decided to buy it for good luck. It is symbolic for this year to buy a little doge  ;D

Chinese New Year is February 16th!

The market continues to grow from the recent point of view!

Although the growth is slow, I think that after the New Year in China, people will return to work during the holidays, and the market will

Why tho?

The day of Chinese' s New Year this 2018 is on its 16th, right? Anyways, as to relate it to bitcoin, this could or couldn't affect the state of bitcoin just like any other occasions. But what differ on Chinese New Year is that the main man, people, of this event are very great influencers of bitcoin. So probably there may be a gradual move on its price.

I'm certainly happy for the Chinese and their prazniki, but the Europeans had a decline less than the Chinese, a feeling that it is not only the new year in China, but also another news background, that is expected, of course, the passage of all the holidays ...!

Let's see how it goes. There's a lot of members who are very positive (including me) that it can bring good jibes around the market price. Oops, just saw that price breaking the $9K barrier now.  ;D

Maybe you guys really can foresee the future.  :D


History suggest that after the Chinese Lunar New Year, our Chinese investors are ready and willing to flock and pour their cash in the ecosystem. Perhaps they wanted to earn back money after spending it during the holidays. It only makes sense, as crypto trading / investing is one sure method of gaining profits in short or long term basis.

Definitely the end of the year and Christmas was a great time for bitcoin, and year after year that pattern prevails both in crypto world and in stock prices too.

For stock and bonds it is related to investment founds considering the end of the year as the very last moment to show investors they make profits, so they make changes to their portfolio at that time.

For Bitcoin I am still guessing what may be the mechanism behind it.

As bitcoin is more of a global phenomenon, every year something similar is happening for the Chinese New Year. I am not so well acquainted with the asian culture so I am not aware what may be the mechanisms behind it, but this year definitely I am expecting it to happen again too.

I dont think it will be much of an impact. Especially since, all the recently regulations in Asia have put btc in bad light. Besides, if there's going to be a a massive change in price it would have happened already during the start of feb. I could be wrong though, in the end there's really too much factor to tell :(

I think chinese new year will surely help to improve the market.
People will have lots of money, and they will buy bitcoin then.
I planned to buy bitcoin as well, since when cny, my relatives will give me money, and rather than spending it uselessly, i better invest it in bitcoin and help the market to becomes better.
I hope many people buy more bitcoin so the price will slowly recover.

mostly if chinese new year it's a lot of chinese people who have bitcoin they pull it into flaf money and it causes bitcoin prices to drop, and I hope after the Chinese New Year finish bitcoin prices could rise soar to the moon again.

I dont think Chinese new year would bring huge fluctuations in prices (I mean increases), but I would think after it, prices of cryptocurrency (not just bitcoin, but altcoins too) will steadily go up, and then probably from April, prices will start to increase significantly, and might hit new ATHs around May~June, but that seems a long-time in cryptos, so cannot guess much at this time.

You got typo, chinese new year is february 16. Anyway as i am seeing the market goes now since last week, its slowly climbing back on top now, already at 9000 $ ++ per bitcoin. I think it was a good signs and good vibes also for us believers that this might be the start of comeback.

Everyone is waiting for it to end and bitcoin will soar in price, as the Chinese will join with renewed vigor!  This would be too predictable, I think the price will go up now, and the news background around bitcoin will only be positive!

Here's some info for you:

Chinese attributed to 70% of Bitcoin trade (BTC-Yuan). After the ban, it's about 1%.
I'd say if there's a change, it won't be significant.

Not yet dude, chinese new year is on Feb 16  ;D
But i think it is affecting the bitcoin and other cryptos if chinese new year has passed.
but not much i think

Yesterday, the Chinese new year came, and the cryptocurrency market began to improve significantly (turn green) . Perhaps the Chinese give gifts to each other with bitcoin and altcoins ?))

I think its true that chinese new year has a big effect at cryptocurrency Because Asian countries specially in china , account for a huge portion of crypto trading. but   i think later this month, the Chinese people will venture again into investments, including cryptocurrencies, because of the following signs in their calendar and since Chinese people are believers of their zodiac. Bitcoin is going to rise again, no matter if China and other countries banned crypto exchanges.

I expected so much this Chinese New Year cause most of the salary that I have gained says that the distribution will be after Chinese New Year, and now look what happened I just put myself into expectation and they demanded for another weeks, I have been waiting this since last year and now , still waiting for it to come.

LOL, nice symmetrical event. I believe that bitcoin after the Chinese New Year will be bullish on the month after that. And the month after the Chinese New year is March. Bitcoin will have its bull run on March.

Yes it was what I predicted too (read my post above). I don't know mechanisms behind it and I don't know how to explain it, but it just happens every year, this year too :)

I always see people claiming that following Chinese new year there is a surge in bitcoin price. Why is that exactly? Do people think that just because its Chinese new year that people don't have time to trade or invest? Or that people suddenly have more money to invest. I see that in the past BTC tends to increase in value around February, but see no reason why it should be attributed to Chinese new year.

it is the same as with Catolic Christmas and end of the year, traditionaly it is a great time for shares and bonds (it is I think related to some large founds realizing their profit) and since a few years it is great for Bitcoin too, but I doubt anybody has a good explanation, you know, Bitcoin is around for 9 years only and it has been seriously traded for how long - 4? 5? years. I think anything we may hear is just speculation. But the phenomenon has definitely been there all those years :) and this year too

i think the Chinese new had a great impact on bitcoin's value today, since we can see the market going stable at 10k usd level, this might be a sign that more Chinese investors are returning since they want to have a prosperous new year ahead of them.I think we can also based it on the historical trend, that before any major occasions the value would rise weeks before then goes down a few days before and after the celebration, then comes to be stable afterwards, ten we have to wait again for another major occasion that would take place, I agree that it is somehow similar to what had happened during the holidays, but this time the percentage of the gains and loss is not high, compared last December. there are still FUDs that we see on the news but it doesn't seems to affect the value that much, since what I see is most of the investors that are HODLing today have strong hands and probably had already learned some valuable lessons in the past,. there are also those who had waited for this moment, that the price of bitcoin to go down and will probably grab mow the chance to invest, we can also see some altcoins being affected, knowing that the price of bitcoin has gone down people are taking profit from altcoins and converting them to bitcoins, thus make the value increase. also at this time of the year, the value might rise again since half of the world will be enjoying summer breaks and they will need to gain profit and then the cycle will just go on, until we reach another all time high.

Maybe. I think yes, because China is one of the countries that really supports Bitcoin. Maybe we can assume that it will decrease its price  before and after Chinese New year. Chinese are cashouting their bitcoins in able for them to get money and they will use it in their foods. They will buy many foods and many things that they want and it will cause the Bitcoin’s price to decrease.

Professional traders are expecting a slow growth pace until Feb16. ie Chinese new year. China has a very significant role in making crypto-miners and other hardware instruments. China has a culture of celebrating their New year with great enthusiasm and Chinese people spent a lot on this festival, therefore china's crypto market remains stagnant these days and hence slowed the crypto growth at world level.

You do realize that it's 18th today and China has gone bananas on crypto and scared its citizens from buying and selling?

What we're seeing now is total opposite from the last year. Instead of dipping before and during the Chinese New Year, we're seeing some nice gains. Because most small time Chinese investors are not in the game anymore. And those who are in the game are rich people who keep their crypto in HK or overseas and have no need to sell because they already have enough money.
Bitcoin bull run has already begun.

     Chinese new year has already finished. Before it,others said bitcoin price will decrease but it is opposite to what they say because bitcoin now are continuesly increasing after a big drop.

A lot of people have been pointing to the chinese new year as the reason bitcoin crashed. I never really believed that the crash was caused by that factor... Yes it makes sense people want to cash out a bit and maybe buy some things, but the fall was a massive technical correction first and foremost. It is fun that the new year is coming and I am very excited about The Year of the Dog. I think it will be a huge year for the world economy and a very positive one for all markets, especially bitcoin.

The Chinese government has already cracked down on crypto, so they aren't as big of players as last year.

I see the Chinese New Year this year will not affect the value of bitcoin, altcoin and market, but it may be slightly decreased.

after that will be much support from asia in february and march, so bitcon price and market will be stable again. and also bitcoin will get support from USA, Canada and others.

Cold China will issue a new breakthrough, certainly in all areas of ICO or also share gift gifts, that we know right now, China wants to raise bitcoin in their country, even they are not tangung tangung to build a bigger mining this year .. .

The chinese are one of the big investors of bitcoin. It has been a trend every year hat once the chinese new year is approaching the bitcoin price always decreases because these investors would cash out their investments so they will have money to use for the new year. After that, bitcoin will zoom high coz they will put back their investments. So lets prepare for bitcoins recovery.

every chinese new year most markets in the world are affectef, expected to be bearish. simply because chinese knvestors halts any kind of business or money outflow during these season.something to do with their beliefs.

China is one of the biggest crypto users in the  world, the Chinese New Year is one of the biggest event for them, and in that time they tend to celebrate and spending money, so I think some of them will cashed out crypto and maybe give crypto as gift, so I think it's affecting the transaction volume of the  crypto currencies

Recent market information feedback, Chinese New Year seems to have no impact on the BTC market!

The BTC continues to grow during the Chinese New Year, not "red".

I want to finish the New Year in China, people return to work, BTC will continue to rise!

Dude, the drop is supposed to be BEFORE the Chinese new year actually happens. As it was indeed. As the Chinese new year approached, markets rised. Or could've started right after, doesn't really matter. If you ask me, both Christmas and Chinese new year every year seem to have an impact.

And usually february/march starts the rise towards the end of the year. Hopefully again this year.

it also affect the price of bitcoin i think bitcoin pumps almost 1k$ in that day thats good for us because we earn some profit because of chinese new year. now bitcoin continues in pumping hope this will be the biggest comeback for bitcoin road to 50k i think.

I firmly believe that chinese new year will help the market rise. Investors especially the asians will put their money back in the market and hopefully March will be a bullish month for us.

Maybe after the Chinese new year, everyone can already speculate about the development of bitcoin, because china greatly affects the growth of bitcoin

I think it's not that much when it comes to buying or selling cryptocurrency. Trading during chinese new year is still not new to traders and investors and in this time many chinese would sell their stock and some whales buy in low price. This way trading is alive and would probably pump up bitcoin and other cryptocurrency again. Hopefully this would start the rally of cryptocurrency on top like it was before.

Now on my view we turned around, and let us continue to on the sly grow. down already strongly we will not go down ! and after the Chinese new year, as everyone expects it, we are waiting for a serious infusion of large investors! and accordingly, the price of bitcoin will go up!!

There is no significant effect of chinese new year to bitcoin price this year like a massive correction and instead it still climbing slowly with some minor corrections. The recovery is still slow because some there are still no positive factors to push the bitcoin price into another continuous surge. the bitcoin has already suffered setbacks from supposed to be China ban on cryptocurrencies and exchanges.

a month before the price of bitcoin imlek is not good, but approaching the Lunar New Year and afterwards, bitcoin price passion back good and strongly supported by many parties.

and the point is better than last month  ;D

Try to prove that most people's guesses are wrong, and that the price of bitcoin has not fallen as Chinese celebrate the New Year. The price of bitcoin rose during the Chinese New Year.

Before chinese new year bitcoin price.is not good because many chinese investors sell thier some bitcoins for this holiday, and now bitcoin price got fully recovered, middle february is better than last month.

chinese new year we can expect market to be slow as of now and after the effort of chinese new year we can expect come back of market due to large number of chinese investors from asia will enjoy their holidays

As we see, all prices of different coins and even Bitcoin went up just before Chinese new year happened. But I hope that this will be a good start.

During the Chinese Lunar New Year, it is considered lucky for the Chinese people to make an investment. During Feb 16 trading, there were large volumes of BTC purchases on a per minute chart making the price on the market turn and have an uptrend. Assuming that those institutional, professional traders and long term investors buying at this level, the hype will follow and the public will see the growth on BTC causing the price to have a bull run in the next few months.

I just wanted to take this chance and wish a happy new year of the dog to all my Chinese friends out there!

And I do not think that the new year will have a big impact on bitcoin.
I do not know if many Chinese people cashed out during the last weeks to get presents for their family.
But in case it happened, that money would be invested in presents now and is not going to reenter the market.
So if there was an effect to bitcoin from the Chinese new year, it has already happened the weeks before.