Bitcoin Forum

So, the trustable prediction was that, After China New Year Bitcoin price will rise. And now bitcoin price has crossed 10k USD. So, maximum prediction was right. I am feeling too happy now. So, what next? Any prediction again?  when will btc reach 15k USD?  ;D

Bitcoin has been recovering for the last 9 days since it went to 6k. Chinese new year is not the only reason for that, it probably contributes in some way but it's surely not as significant as people make it out to be.

Bitcoin recover after each dip, I don’t think it got anything to do with Chinese New Year. Where did you get the prediction from?

I think Chiane people buy more BTC to save asset for new year!

I agree, the end of the Chinese new year is only one factor that makes the bitcoin price surge. There are many good news that I've already read before this surge occur. hopefully this will continue and bitcoin can back on 15k.

Chinese New year is one of the main reason for dip in price of Bitcoin since Chinese participants are huge in cryptocurrency market, they mostly cash out during the holidays and now they turn back all their expenses occurred into investment and trading so the price would go up. This is what happening for last 3 to 4 years continuously. Guess Bitcoin would reach $20000 in another couple of months.

It was predicted, but Chinese new year had very little to do with the price increase. Chinese people are on holidays and they sold weeks ago, before they went home. So that would have caused a price drop then.
The rise is because many people who missed out as well as investors, took advantage of the low price and bought massively. However, there were more predictions, like a possible bull's run in the next weeks. So, let's wait and see!

If this pattern repeats itself year after year then it becomes easier to know when to buy and when to sell

For those of us in the Western Hemisphere, Chinese New Year's hasn't happened yet, it's on Friday, Feb. 16th.

I have some insight into the whole Chinese situation.  I lived there for many years and keep in touch with a lot of crypto investors I met there.
China is a community driven culture and they have basically three giant networks of miners, investors, and sellers who move the market in the direction they wish.
They help each other all out.

Well, from what I hear my colleagues say and what the sentiment is in there networks is this:

They are unconcerned about the market.

No particular bearish or bullish attitudes.  Mostly, they are spending time with families and relaxing.
As I talked about how a lot of people are worried that Chinese New Year's is a huge influence in btc staying low, they just laughed.

So, my conclusion is this: We are the idiots who are keeping the market down because we imagine some kind of "problem" and we are the ones that gradually pushing it back up.

my prediction was same and i never feel any negative thing about bitcoin.i will hold forever.

You're right that the market is too emotional, but I think some have amplified that.effect for their benefit. If you know the Chinese New Year dip is coming, you can coordinate a lot of scary news that turns the dip into a crash. Then it's a matter of shorting Bitcoin to profit.

If we do base on history regarding on price movement on bitcoin on past years we would really able to see the similarities and Chinese New year holiday is one of the factors. We cant really say its the main reasons but we are sure it is one of the factors why we do see such price movement. We do already make predictions and now we are seeing bullish movement together on the recent holiday. Market is recovering up and for those who buy in the dip do already cherish profits as of now.

Judging by the fact that bitcoin began to grow slowly in price even more than a week ago, the Chinese celebration of the new year was not the only, and not even the main reason for the fall, and now the growth of bitcoin. Significant role in this played bad, and often false negative news regarding the crypto currency. Now their flow has stopped and on the contrary, good news has already begun to flow. The panic stopped and bitcoin began to slowly increase in price. Of course, this will be growth with occasional minor falls, but in general, bitcoin should be restored and then further grow in value.

The price has crossed $10000 on the Chinese New Year.

Some people did predict that price would increase on the Chinese New Year!

1 the reason is Chinesse new year that make Bitcoin price go up,and i hope the price will go up more and more, and i hope the price will like last year again  :)

Lol. You sure are naive op, xD
Clearly, it has been increasing already little by little these past few days so obviously, we cannot say that the chinese new year really is the reason for the decreasing and increasing of the bitcoin price.  Although I can't point out every possible reason coz it'll take a whole lot of time, I can surely say that the chinese New year is just a part of all the reasons out there and is probably not even a Major one.

Now about the numbers, well, I really do think that $15k will be possible by the end of the month or a few weeks later. That's just a guess tho.

a good hope will happen and I always hope that good will be higher hopefully keep climbing until in the end what I expect can be achieved and I have big advantage.

Your logic is flawed.
There is still a holiday going in China right now, so the price would still be dropping if the Chinese would have any say in the matter.

But, thanks to some god out there, China no longer matters. Not their fake exchnges, not their weekly bans.
China right now means 0 to Bitcoin! 


Really?
There was no trend like that and not a single spike in 2015 or 2016, just linear growth and in 2014 we even had a 20% dump in that period.

Another thread like this? Give me some definitive proof that the price movements are caused by Chinese New Year.
Correlation does not imply causation and I really doubt that Chinese New Year has had that big of an impact on the price.

At most it played a very small part, but you've got dozens of news articles turning it into a big deal when it's not.