Bitcoin Forum

Hello everyone!

So, with the new year of dog at our doorspetps, do you expect the price of all the coins to rise? Or at least the major ones? I have written some articles in the past month, where i was pointing out Chinese New Year coming up as one of the factors of the decline. The reason for that was, that Asian people will spent a lot of money in this time, so not really buying crypto, eventually going out from crypto for a while to have some FIAT for spendings and so on.

With the New Year here, we can see increae in the price already. I don't really think that this is a coincidence! What price do you expect now? How fast do you expect everything to rise?

I am expecting slower pace for BTC, which will be really good for the altcoins, as they can increase their ALT/BTC price, which in the end can increase their $ price much faster.

I don't think the new year was the main reason of a down trend. First of all the market needed this correction. Coin were going up to fast. Second is infrustructure. A lto of new people tried to get into crypto and exchanges were not ready for that. The third but not the last is governmental FUD. We heard a lot of good new on regulation, but most people in crypto fears regulation and any government actions and spreads FUD.

Now infrustructure is almost ready for new users and news are getting better. So we can expect the market to grow.

regardless of this new year thing, i can say that the dumping and panic sells are over. we are not entering a new phase starting with bitcoin. if the price of BTC keeps rising and stays above $10,000 then we can expect better days for the whole market as bitcoin rise slows down the money flows into altcoins to pump them and then goes back to bitcoin.

if this new phase can't stand (which is unlikely in my opinion) then we may see a new phase of dumps instead where everything will be in red again and dumps may even become more severe.

This is not the main reason for the fall and rise in the price of coins. The effect on this is very minimal, just like bitcoin and the other coins went up very well and came an obvious decline. And now the growth of bitcoin has already started, we hope that soon the price for alts will fall, too.

I do not think it is an outright fact that the Chinese new year would bring about a decline in the price of coins or altcoins and neither do i think it can totally influence the rise. Everything is based on predictions. Nonetheless, if the Chinese choose to now go for fiat during this festivity, other none Chinese can keep the market running at a good pace. Regardless of that not everyone that participates in the Chinese new year would sell all his major coins to go for fiat, there might still be other options left.

Chinese New Year is today, February 16th and the crypto market is holding its breath until the date passes. Coins are maintaining their status quo by rising gradually. We await better turnout soon.

I believed that the Chinese New year will influence a little the rise of crypto currencies but not in to magical or superstitious way but more Chinese Crypto enthusiast will believed that this year will be a lucky year for them that they will buy more crypto currencies and invest more so i think because of their positive mental thinking the result will be in favor for crypto investments in which it will help to increase the buying demand even in a little margin.

Well so far this year chinese new year is the main uplifting news that comes in cryptocurrency,! I think this new year has a remark with the rising estimation of all cryptographic money and I read some article too saying some great things that may occur in crypto in light of this chinese new year

yes of course if the chinese new year is over certainly will be a lot of buy bitcoin again and hopefully this can trigger the rise in price of bitcoin and altcoin other.

Yeah it is believed that the rise will rise more when they go back to work and start investing and trading again. So we expect more green days march beginning .

I do not think that the Chinese New Year is so important for the course of the cryptocurrency. This is a contrived factor to play by the price

I think the recovery phase of the market is back. In February, I believe the price of bitcoin and other coins are also rising.

I think the price of BTC will continue to grow during the Chinese New Year holiday!

When people get back to work and start making new investments, a lot of money goes back to the digital money market!

The market will stabilize at this time!

i think cny is really do it because not only china celebrate for cny, it include taiwan, vietnam, hongkong and every china town around the world...its 1/7 population of the world.

Could not agree more, when we peaked back in december many exchanges had backlogs of people trying to get in and verified. Kraken e.g. was more or less useless to trade on, coinbase had problems with verification etc. And honestly the quick gains we saw in december was simply crazy, we needed the correction and we should now soon be able to see some growth in the market cap again.

It seems that this is also a little worrying if this celebration is the end of their journey in the crypto world by selling all their coins. Looking at markets that do not show good prospects, this is one factor to choose to back off.

I can agree with you. All New Year holidays, not only Asian, influenced the market of crypto-currencies. But as we see at the moment - it is being restored. I hope the next month the market will enter the usual rhythm.

There are too many outlying factors at play affecting the rise and fall in markets, and we cannot attribute or stake it on a single happening. So relax and celebrate alongside, for universal luck and success.

possibly the price of altcoin and bitcoin itself after the Lunar New Year will be green, despite that not so significant price increase but we should be grateful.

Yes, indeed some users and experts associate the fall of the market with the Asian New Year, but I also agree that the situation on the market depends on other factors. I think this drop went to someone for good.

The situation had much more factors, but this one in my opinion one of those factors and it is no longer there :) Sure, someone filled their pockets...

Wait for a boom in price of Chinese project in the following weeks.

Well, you just contradicted yourself. If it is true that Chinese Asians (a really big market) will be looking to liquidate crypto into fiat for spending then the market price increases we are seeing now does not make sense. I sort of agree on this part because I know for Chinese businesses, it is good feng shui to spend more on celebrating the new year. Do not spend enough and it will be like luck will desert them in business.

But I am wondering, if all these traditional Chinese business people are really that much into crypto? I think it is the other way round, that crypto wealthy are now only entering into business.

This year's Chinese New Year seems that helped the prices of the currencies in the cryptoworld recover. But it doesn't looks like that it made their prices rise. Ethereum price is at its normal and maintained price. There is no noticeable price change at all. I wonder if it would keep its pace up or would it maintain at its usual price this year.

I honestly believe after the Chinese New Year, the price will pump just like the past few years. Yes, we recovered from a huge crash between mid-January to early February, where Bitcoin plunged to $5,700 before they made a bullish run of up to $10,300+ hours ago.

Now it's below $10k again, it's just see a minor correction before it will make another rally in the next few weeks. It's time to #HODL and see the price increase, and we can rejoice all we want. :D

I think that currently the cash flow should redistribute towards altcoins.

I don't understand exactly how time periods like a New Year,  Birthday of the Queen,  Full Moon etc. have related to the price of cryptocurrency. I think that price always has connected with fundamental factors and with manipulation activity.

The decrease is definitely not the main reason from new year but increase may have some point but after February it will act.

I heard it's tradition of the Chinese to spend money during their New Year. If they spend and give out money, they believe that they will get lucky and prosperous for the rest of the year. Chinese are very good businessmen and they would go through certain extents and traditions so that their businesses will be a success. If that were the case, then Chinese crypto-users would cash out the crypto that they have and this may cause a dump or a small price drop - as opposed to what OP has said.

I think this is true, the price of coins is down because people prepare for the needs of chinese new year, and after chinese new year passes, everyone starts buying coin again

price movement on crypto exchanges is not related to chinese new year moment. I think the price of crypto exchanges that tend to increase or decrease I think it is a common thing. because indeed the price movement of crypto especially pada bitcoin is very pluktuatif where every investor will invest at the time of low price and take advantage at the moment of high price.

for now we do not know for sure because it will probably go up again but it takes a long process.

Yes, im sure prices will go up those days.

I repeated this several times and I repeat again: after the Chinese New Year investors' activity should increase. This happened historically and should happen in 2018

Slow rise in BTC is healthier, thay way we can see small altcoin rises too. If BTC rise too fast usually alts can't catch up and they fall down. Everybody expected Chinese New Year, now we can rise again. Market is too optimistic now.

I really don’t know how the average chinese is managing to trade and buying cryptos with all the bans and blocks

is china still the biggest crypto volume on the markets?

before chinese new year comes have people's worrying about bitcoin price going down again upto 7k usd 0r more than, but i really believe there nothing effect for the bitcoin the celebration of chiese new year into bitcoin, why  this is my conclusion answer, for me is because until cryptocurrency including bitcoin are ban in the china government, but look at now bitcoin bouncing the price in the market exchange.

Prices are going up but at a slow pace. Most of the top coins are in green. Btc is over $11k and eth is about to hit $1k. The next 48 hrs is important. People are still on vacation from chinese new year. People might start selling soon and we could be in a sea of red or things will continue to move sideways at a healthy pace. 

yes, I think that in china new year will drop drastically, but just down slightly. and now it has gone up again.

but different in china year yesterday, I see in china year before bitcoin price down far.

the difference is that this year, at the end of February and March bitcoin will get a lot of support. so bitcoin prices can be slightly stable.

Seems Chinese New Year gives a good predictions for bitcoin as it start pumping again. I hope after this event the value of bitcoin same thing with all other alts will continue to appreciate again.

I think many investors are now starting to put some investment in bitcoin and alts which contributes to the increasing demand as well as crypto price.

As predicted by analysts, Bitcoin rates, as well as altcoins, are heavily influenced by the Asian Chinese New Year, so now that the Chinese New Year is over, we have It hoped that the exchange rate would rise again quickly. Market Cap has reached over $ 500bn, up about 10% from the previous week, a sign that the market is recovering!

It will rise eventually, all alts will pump very soon. Last year  cycle pump was march to May. I don't believe the market is affected coz there's a lot of community worldwide. I look on this scenario that people are engaging in crypto everyday it's like there's a new born baby.

hope you are right!

Chinese New Year cannot affect the cryptocurrency market perhaps according to the experts Bitcoin recorded a price increase 9 percent rising from $10,030 to$10,850 and cryptocurrency market has reached $500 billion as most major crypto's including bitcoin.And to this Lunar New Year happen  the demand for the bitcoin spikes premium rates.

Maybe, for all I know, the Chinese still have very superstitious believe in many things. For example, they buy gold in the new year for good luck from Wealth God. BTC could be a new kind of 'gold' investment in Chinese's way of thinking so we could expect a little increase.

For now, during the Chinese New Year, the Chinese New Year bitcoin has had a good rise, and today when the Spring Festival is over, is Bitcoin starting to fall again? Is it really China that has affected the entire cryptocurrency market?

The correction is not ended yet, I think, we will see a downtrend on market some more time. In my opinion influence of Chinese New Year influence is not so big.

I do not think that Chinese New Year has entirely affected the rising and fall of the price of cryptocurrency. The Chinese New Year maybe one of the factors that were pushing price of cryptocurrencies down. But one thing is true that regulatory measures are major factors that are affecting the market right away. But ultimately regulations will stabilize the market. Good luck.

I predict either Bitcoin or Altcoin especially top 30 cmc will experience a significant increase this year, we'll see the middle of the first month.

Whether this is due to the Chinese New Year or simply to the seasonal drop in the rate of the Crypto currency, however we see that after the Chinese new year, bitcoin already has a price of over 11,000 dollars. It may be that here several factors are triggered again, including the cessation of the appearance of negative information about the crypto currency.

I think that after the Chinese new year, the market will finally show good growth. I'm looking forward when it will be possible to make a profit after such a deep correction.