Bitcoin Forum

I've heard so many times about the effect of Chinese New Year on crypto market. The thesis is chinese new year may cause a periodical market anomaly every year.

It is well known that in stock markets may occour periodically at the same dates of the year like holiday effects etc.

Do you think it can be also a factor for crypto market and bitcoin price?

Below see a chart that shows the monthly bitcoin price changes since 2015.


5 days left for the Chinese New Year. Do you think this year will be same as previous ones or chinese new year thesis will be refutated?

We will wait and see.

Also to this link aside from chart of yours talking about price drops during Chinese new year:
https://cryptopotato.com/chinese-new-years-coming-up-price-history-reveals-bitcoin-bulls-should-be-worried/

Answer to the question if it would happen the same thing for this year? No one knows yet seeing the past wont precisely mean
that it would happen on the present or future.

Every year we have the same discussion about chinese new year and Bitcoin price. There isn't any proven connection however speculations continue. It's almost like Bitcoin users are trying to find some kind of justification and cause for every time the price goes up or down but things are not so easy.

Chinese New Year in the past years (in exception of 2017) was celebrated in February and they were all green. So if the price holds until the Chinese new year, then history will hold true.

I was also surprised that they write here that the Chinese New Year will come in five days. In previous years, this forum wrote that the New Year in China is celebrated on February 15.
Just interested in this event on Google. It turns out that the New Year in China according to the eastern calendar is celebrated at different times depending on the date of the solstice. This year it begins on January 25th and will be celebrated until February 10th. As far as I remember, there was no cryptocurrency market growth at this time. However, the above table shows a steady increase in the price of bitcoin in February. Well, let's see what happens this year.

While there is no guarantee that the same thing can be happening again and again, there is a factor of self-fulfilling prophecy here. When a critical number of people are convinced that it can be back again, then there is a big possibility that it will. Rational or irrational it maybe. Now, the real test is on eating the pudding so let's watch this one and see what happened after the Chinese New Year if it got good or bad effect on the prices of cryptocurrencies in the market.

This isn't a real thing, the Chinese new year has no effect on the crypto market or anything along those lines. None of these things have any sort of effect on the market -- the Wall Street bonuses don't do anything, nor do some random holiday in the middle of Indonesia, nor does some random law passed in some no name country.

The only thing you could convince me of effecting the crypto price (and the stock market price) would be the end of year tax loss harvesting in Crypto (and in traditional stocks)

But in reality this doesn't mean anything, Crypto goes up and crypto goes down, just like the stock market. People just write news on 'why' after the fact which is typically bullshit and made up.

Yes your right Chinese new year has no effect on crypto market. As you have mentioned yes crypto market goes up and down for that reason we cannot compare it's all because of Chinese new year. Just we will have to wait for the best to happen. Hope this year it will increase finger cross.

I think it will definitely have a big impact and it will tend to dump. because in China there are a lot of rich people who make a fortune from bitcoin mining and there is also a lot of bitcoins produced there. So when their Lunar New Year is coming, people will be selling bitcoins to make money and enjoy the Tet holiday, so this is a bad time to trade any coin. Let's wait for their new year to come and we will start to catch up with the market again.

This idea is similar to "Sell in May and go away" or "Halloween effect."

https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp

I think the reason for such an anomaly is trading activity. If the majority of traders out for vacation, it is understandable if the trading activity will decline, along with the price. However, don't forget that in this modern era, traders still can use their smartphone anywhere to do some trading activity. Also, not all of us are Chinese and would ignore the Chinese New Year.

Hmm, they said it in 2018, and then 2019, LOL, by now we can say that there is no effect whatsoever on the crypto market regarding the Chinese Lunar New Year. I still vividly remember in 2018, people are very exciting and saying that the price will pick up again after the celebration. However, the opposite did happen. The price plummet and it was the start of the bear market. So for me, there is no correlation with any celebrations, investors are going to pour their money regardless if it is Christmas or whatever holidays it is.

We will have to see, since we are in a sort of mini bull run, who knows, maybe some wealthy Chinese will suddenly invest tons of money prior or after their New year. Chinese are very superstitious, and it could be that they are just waiting for the right time here and see what the new Lunar year can bring to them. So let's just hope for the best.

People often correlate various holidays to price movements. And while it may be partially true to economic markets, I don't think it always affects Bitcoin in any way. Traditional economic markets such as stock and commodities have a very much difference with Bitcoin's decentralized, digital market. Bitcoin is 24/7, with a market that does not actually care that much on such events, aside from most important like Christmas.

I think we'll just have to wait and see. There are no definite factors that affects Bitcoin's pricing during Chinese New Year. Moreover, majority of cryptocurrencies are held by Asia. Take also in consideration that not all traders are Chinese which can be a factor in which Chinese New Year may not be relevant at all in terms of pricing.

I see it as a placebo. Many events are thought to be influencing the prices and whenever they don't, there's suddenly a reason the market didn't go the predicted way. Whenever they do though, there's always the "I TOLD YOU!" follow-up commentary.

Most Chinese New Years brought greens a few days after it, but then proceeded to go back to normal prices afterwards. It actually lacks any type of effect towards the long term of BTC. Its kind of a temporary event that boosts BTC upwards, but not much though. It is a holiday that affects a huge amount of population, so it is reasonable that the market prices are affected, even by a bit.

crypto market will not be affected we are aware that the speculation of every holiday is identical to falling prices impact is not certain ,bitcoin does't rule out the possibility of going down but the correction cannot be sure right yet and vacation moments including chinese new year often make bitcoin prices also rise I not wrong to see it all

Unfortunately for all traders there are no strict rules in market's behavior.
There could be a correlation between Chinese new year and Btc's price, but its all more of a repetitive coincidence than a rule

Maybe coz it sound simple enough. "There's a big celebration > People need the money > They take some out from the crypto > Price drops > Celebration ends > They buy crypto again > Price rises"

Of course that's not always the case but I think if enough people believe it, it can be a self-fulfilling prediction. So in a way, it is something that is worth observing, even if you don't subscribe to it.

Indeed, during the Chinese New Year in 2018 the market has increased, but I think traders on big holidays will rest and reduce trading volume. therefore I think after the Chinese new year the market response will increase and will certainly move the market. but that can't be a benchmark, because not every event has the same trend

Since it is consistent during everu month of February, the possibility of it having good impact in the market is still high. During Chinese new year, many people spend their money and those money manipulates/moves in the market. Since Chinese people has a the biggest population, each and one of them can own coins and multiply it by their population, look how much they can contribute and take effect in cryptocurrency.

Stocks have already created a pattern regarding chinese new year. It seems it has really an effect. But the crypto market is very much different from the stock market. So far, the market of cryptocurrency shows total independence. It does not show that it is dependent or its movement is relative to any world event year after year, not on chinese new year, not on christmas, and certainly not on the rise and fall of the stock market.

With my stay to crypto, I've seen those few Chinese new years that really gave an effect to it.

Those times were bad and it's giving the negativity whenever we're approaching on it. But, this year? we can't say that it will be the same again because it could also be different.

Prior to China closing down all it's exchanges in early 2017, they did used to have a new year effect on bitcoin. But they no longer do as it's hard for them to buy coins. Most purchasing activity for bitcoin now occurs in the rest of the world.

I dont think this claim is true because this thought was came up recently when the BTC reached all time high and started tracing back, coincidentally, Chinese New Year was in between. The market is bullish right now and we are seeing good volume in flow. We may not see any dumps for Chinese New year this time. Also it is in just 4 days from now so its nearly impossible to happen. 

just like Christmas does not affect on prices, so there is nothing special about the big day on bitcoin. and in my opinion none of that had an impact on the market. current increase indeed this year the market is bullish because of halving.

Ell, I don't think it till affect that much but Chinese holders of bitcoin are significant too. I think it is maybe the same with Christian Holiday I December where there is Christmas and new year, as some will sell their assets for holiday break. Let us just observe in the coming days, if it can really affect heavily the bitcoin price.

We will see it later. We need to prepare every possibility that can happen in the market. If the price is down, we can buy more bitcoin at a low price, but if the price suddenly increases so high, we can sell the bitcoin at a high price. Everything can happen at the market, no matter if that is one event will occur. But we always hope that in this Chinese New Year will bring changes to bitcoin price and who knows, the price can increase to the high price.

In my opinion there is no relationship between Chinese New Year and bitcoin price movements. if later in the Chinese New Year the price of bitcoin goes down I think this is whale manipulation that utilizes the Chinese New Year moment. I do not understand some people always connect the ups and downs of bitcoin with major holidays such as Christmas and Chinese New Year.

In fact, this is a common need of many Asian countries and when the Lunar New Year comes, they will sell part of their securities assets to enjoy the Tet holiday. It seems to be cultural in Asia and my country has the same customs. so we need to be careful because there's a high chance that it will continue. It's best to stop now, wait for how the market moves and then join. We should miss the opportunity and never lose money, that's the immortal saying of Warren that we need to remember.

We do still have 4 days left for the said Chinese New year and lets see if those price corrections or sell off would happen on that time.As said by others where this was just like when we are approaching on last month of each year where holidays is on line where people do sell off their coins for the said holidays but we have seen recently that it havent affect the market too much.
These kind of events and sentiments can possibly have or doesnt have any impact but at least we are seeing nor preparing on possible movements and seeing for opportunities.

I don't think such events have any major impact on bitcoin prices. We saw that last month too. No significant up or down happened in the price of bitcoins and other cryptocurrencies during Christmas and holidays. It is only after the starting of this year that prices are surging again. Associating crypto market with festivals is as stupid as associating it with Trump's victory. Both had no impact on prices.

Well, it can be kind of considered one. From the past Chinese New years of BTC, it has often more than not brought about a bit of an increase, albeit temporarily.
Major Impacts, yes it has none. But minor effects could be seen every now and then though. Also, if we were to look at the history of BTC prices during Chinese New year (past 5 years), it has always brought a bit of price increase, just a little bit of boost, but as I said, temporarily. It could be a good chance for some people to sell some of their coins at a bit of a high price compared to the price before the said boost.

Many are bound in spending when it's holiday to spend in their family, especially in Asian countries that are too close in their family that creates bonding when there is given time. We need to watch the market throughly but if we plan to hold longer then it's fine especially if we are able to buy it at lower price before since it may not fall too low as halving will come near.

I remember (and this did not happen just once) those tweets I saw every January talking about how BTC's downtrend would be slowed down (or even reversed) by the Chinese New Year and yet even after that date the price still continued its negative trend.

So I still go with my last statement. It's mostly psychological, and whenever it doesn't happen we deny it.

I believe that there is also no connection between the holidays especially the incoming Chinese new year to the market price or the condition of the market right now. We can't depend the price of the market nor the situation of it to the holidays or just because there is a very important event to the Chinese citizen it will br a large impact to the globalization of the market? Of course no! If there will be a huge impact to the market when the Chinese new year comes, then probably it is because of the big whales of the China that are trying to manipulate the market in order to set an expectations to the other people.

As per stocks there are is an ongoing uptrend on prices of certain assets. As per cryptocurrencies, we can't say for sure what'll happen, but so far we are also experiencing an increase in the overall price which is the opposite of what happened last year. We can attribute this increase to the halving that will come around this year, this might've made a positive effect on the overall price of cryptocurrencies.

Imagine it is the first month of the year but right from the start of this year showed a good sign since we are experiencing price inflation in bitcoin and other altcoins. I hope that it will continously happen until next year and also to the next years. I am also hoping that the price inflation we are waiting since last year will happen after the halving season on summer.

Agreed. In most cases those are just speculative "correlations", be it with political events, with stock market news, or else. And Chinese New Year is not an exception. Even if Bitcoin was traded in China only, why should its price correlate with something like a New Year?

Don't get me wrong. I'm not trying to say that BTC price will not rise in the nearest future. In all likelihood it will. But hardly Chinese New Year will be the reason for that.

almost every year the events of the Chinese New Year are able to influence the price movements of bitcoin, but most of the bitcoin investors are certainly not from China, therefore the market price movements cannot be fully influenced due to the Chinese New Year celebration. if indeed there will be a decline in market prices in the near future it is likely that there is a group of people who are able to manipulate it, but if not there will be a new history if in the Chinese new year market prices will not be affected at all

Such things are common, seeking justification when there is no connection at all. maybe just a coincidence the moment, as happened at the beginning of this month suddenly bitcoin rises a lot of people who suspect that it is the effect of Iran/US tensions even though if we think back there is no correlation from it to this. people are always looking for justification, human habits. :D

one thing is for sure, I'm very sure bitcoin will be bright this year.

I wish it was as  simple as that but bitcoin is now more global and there is more people involved in this than just the people who would need to withdraw money during celebrations. There are literally companies and whales involved in bitcoin nowadays, these are the people who buy bitcoin in thousands, you can't expect them to sell their coins, if there are people who need money during a celebration they can sell it however there are so many rich folk involved that they can buy all of that and still not drop the price.

I am not saying that will happen or has happened but they can actually do it, they are that rich. So if there is a drop in price, that is because people want to sell, if there is an increase that means people want to buy, simple as that really.

It is as if it's intentional and trying to prove something. China trying show dominance but honestly, they're barking on the wrong tree. The community doesn't give an F (Disclaimer, I don't mean any disrespect to the Chinese New Year), this community will have its way to progress one way or another.


In all generosity, it might just add up but doesn't really have a great impact, and if the illustration is correct the February thing is just pure coincidence.

I can't believe every single event of the year is being linked to Bitcoins anomaly in price changes. Can it just be that it is something moving on its own? Name all the holidays in the calendar, every single one of them have speculative topics and it is not stopping. People should stop thinking that Bitcoin price changes is not always by any chance the effect of some random holiday events.

Who knows maybe because this kind of event people always have extra money to invest?
But that could also lead to the other way around the market could also go down since they would need money to celebrate.
I also agree that we shouldn't connect every event or holiday to the price.
Maybe in just a couple of weeks we would see a post about Valentines pumping up Bitcoin or dropping the peice because couple's need money to go out or whatever they need to do.

I think it's for the better even if we can no longer ride on that trend. They still seem to have a large userbase there, so maybe there can still be an effect, just not as huge as before.

Totally unrelated, the country has spawned another virus. Would such scare affect prices, especially if the situation gets worse? Considering the 2-3 days incubation, people are fearing that this year's Lunar New Year festivities will spread it.

For the upcoming Chinese New Year, I am expecting for the price to have a deeper drop because the Chinese investors and holders will unload their cryptocurrency for sure because it is their time to take a vacation and to treat themselves. With those potential scenarios, I am preparing myself to buy dips when the chinese new year happens.

It's just a theory and why on earth it's related to anything since for sure they have enough money if they are into crypto since for sure they will not touch their assets especially when there's a halving. Maybe we can see some certain movements but as of now the market is so stable even if the Chinese festive is ongoing and  best  for us not to get crazy on any things since we might gonna  get panic and left out with something greatness that will happen this year.

Does every Chinese New Year the price of Bitcoin and Altcoin always go down ?, If it goes down it seems like I will follow your way to buy Bitcoin at a support price  ;D

I find this real funny. Investors don't let go of their investments for a certain holiday with the risk of not getting it back in the same entry price they got their asset. Yes in the past, the chinese new year has been linked to significant drops but i don't think that's exactly the reason why it's moving the way it does. Especially this year that btc halving is happening next month.

China is dominating in the crypto market. The recent calculation of daily usage of Bitcoin in China indicates that it is used in daily basis with highest percentage of 42%. The country want to adopt this digital currency as a legal currency beside fiat. Remembering the past years Chinese New Year effect on Bitcoin price, it is predicted that it will have a negative impact on it. As the price of it dropped during these days in past years.

As the Chinese new year is nearly approaching, it's always very exciting as we waited for that event to happen. Right now it was really a very momentous year in which every Chinese investors put on their luck in different aspects of investments. Let's expect minor dumps to be seen in the next few days, and then goes higher after the celebration.

No. Fundamentally, why would it affect the price? The narration that people sold during holidays like this (Christmas, CNY, etc) is ridiculous in my opinion. So yeah I see no reason how holidays like these could affect the market. Another great point is that Bitcoin exchanges are open 24/7, unlike the regular stock market which does have offline/holiday.

I'm not Chinese but really? Do they "put on their luck" during CNY?

This year, the Lunar New Year comes earlier than in previous years, so there's a good chance that history won't repeat itself. We only have 3 days left until the Lunar New Year and the market still shows no signs of panic selling, I am very optimistic about the market at the moment, and believe that it will not bleed like the previous years. Let's wait and see what can happen in the next days

Chinese New Year till date had big impact over the market of bitcoin. This has declined over the past few years as the influence of China over the cryptocurrency network has declined in large due to the government's decision to Stop cryptocurrency usage and other statements against mining. Even after that the people of China continues to use cryptocurrencies, maybe this time we can expect things to be positive than before.

Buying dips is good, but I don't think the declining will happen as you expect it. Yes people will surely spend more on vacation and celebration than during their ordinary days, but will they spend BTC is a big question. Everyone is expecting a major bull run this year, and those vacations may look too pricey in the end. So, if you want spend some money on vacation these days, spend anything but Bitcoin. And, I think, Chinese people are aware of that too.

Chines year mostly found positive for crypto market,2020 already started but the Chinese year going to start in few days and it is expected most crypto will rise specially BTC,After 2018 BTC mining farms number raised in the china and mostly whales are mining farms so 2020 is going amazing lets see the price of BTC how affected by the new year of china.

We all learn from these events and note that how they impact the market and trade that in future behave with market accordingly.

You're a bit wrong...
Every year we have TONS of discussions

Does Chinese New Year Affect the Market?! (https://bitcointalk.org/index.php?topic=2962794.0)
Chinese New Year 2019 (https://bitcointalk.org/index.php?topic=5097856.0)
Chinese New Year - Effect On Crypto (https://bitcointalk.org/index.php?topic=2985020.0)
Chinese New Year? (https://bitcointalk.org/index.php?topic=2879899.0)
Chinese New Year 2018: Will this effect the markets? (https://bitcointalk.org/index.php?topic=2956262.0)
 Chinese new year (https://bitcointalk.org/index.php?topic=2876320.0)
Chinese New Year Influence Bitcoin? (https://bitcointalk.org/index.php?topic=2892219.0)
Bitcoin price on Chinese New Year (https://bitcointalk.org/index.php?topic=5215736.0)

and of course:

Chinese new year is over. Prepare for Bitcoin bull run (https://bitcointalk.org/index.php?topic=2948567.0)

If I were to list all the topics with this subject I would probably end the task in 2021
Op, you've got your answer (again and again) lock this topic before it turns into a spam mega thread.

Chinese New Year can give a small impact on bitcoin's price but not for too long and not that big. Unlike with the traditional New year every 1st of January, not everyone are celebrating Chinese new year and the preparation is very different during Chinese new year. Especially outside Asia, I wonder if they also celebrate Chinese New Year that much.  However big Chinese investors can change the game but don't really expect that it will give too much impact.

good ideas

Better not hold your bitcoin during Chinese new year because you can lost much assets with bitcoin back to lower price, I think you can sell bitcoin right now and buy or investing when Chines new year day and get lower price, after few days later of Chinese new year bitcoin back to higher price and you can get much profit again, is easy how to manager with Chines new year.

There's significance that Chinese investors can work together and made a huge impact inside the market, knowing them as a good business manipulators chances that the current value of any crypto coins that the'll going to pumped will really get impacting movements. It's barely needed
to understand and not to fall too quickly but to analyze the chances of riding.

When Chinese New Year, all Chinese people celebrate it, and we know that the biggest mining is in China, so the activity will weaken temporarily. therefore the possibility of bitcoin to down there. but after the activity has recovered, I think the price will be more excited than before

The influence of the Chinese New Year on current bitcoin prices will definitely have a serious impact on the development of crypt prices. Many opinions say that the increase in BTC and Altcoins today is influenced by welcoming the Chinese New Year which will take place in the next 2-3 days.
Traders assume that when this holiday happens there will be a sale of crypto assets by people who celebrate the Chinese New Year because they need substantial funds for their parties.
I assume the current price situation is a trap ahead of the Chinese New Year celebrations, and I suggest not to be too tempted by the rather significant increase of altcoin today.

I think the Chinese new year a little impact compare to other holidays like Christmas or New year where it is globally celebrated. Unless some whales will take advantage of the event and create a market scenario or temporary dip.

I think only a small part of the effect of Chinese New Year on the price of crypto. I do not see significant price movements. maybe the small effect was due to the role of China which holds almost half of bitcoin mining. so if there is a moment for china. Crypto prices have an effect. but on the big side, I didn't see a great surprise. all the same. crypto movement cannot be predicted with certainty.

When christmas people always to linked bitcoin price to this annual event and now people talking again the effect price from chinese new year and it repeatable for every years however last time i heard chinese miners has been sell their bitcoin for vacation purpose because if i'm not wrong usually in the country with majority people to celebrate chinese new year then the government will give vacation to the people so if this situation really happen then it will have an effect for the price of bitcoin in short term

But these discussions are quite true. I also discussed these issues a lot on the forum and as a result, I avoided the dump of 50% of the value of bitcoin during Chinese New Year holidays. I think this year is similar, but we have a good sign. I have seen that the price of bitcoin has dropped to $ 8k5 4 times and the bulls have all pushed it up to be unable to break this major support. The whales are selling bitcoins and getting ready for the new year. and my guess is that if bitcoin does not fall below $ 8k during Chinese New Year, I can guarantee that the price of bitcoin will rise at least 40% in the long run.

I actually feel comfortable trading with Crypto when Chinese New Year the market is not very influential here, different from the forex market almost every year when the Chinese New Year I always lose there.
if you are forex traders maybe just know how to market during the Chinese New Year too difficult to analyze for me

Meh, the effect is probably small. As many has pointed out, even though there is still probably many BTC users in China, they've closed exchanges so it's no longer to move around the money. Sure there's HKers but I'm not sure how big of an impact that can make.


Not sure about this. Even if it does fall on New Year the recovery after might not be enough for me to make a profit so I'm keeping them and just riding out the holiday. I'll just wait till May.

from what I know from the existence of the chinese new year it will make the price of some cryptocurrency fall because they will use the money to distribute to loved ones and other family members so that it might have a terrible impact on the exchange.

less than a day of Chinese New Year will come, we can see a lot of people trying to sell their bitcoin in exchange, the price of Bitcoin is currently down, my advice playing short is better when the market experiences a situation like this

Your opinion is correct, but is it not too risky to hold bitcoins with the amount that can be said big enough? Most people are now speculating like that, selling other assets and storing them in the form of BTC in the hopes that BTC will exceed 10K in early February tomorrow. And partly speculated this is a trap made by BTC holders in China, they were pumping the market and after enough and close to the day of Chinese New Year celebration, they then sell it because it requires a fee for the celebration Their. Frankly this is a confusing thing for me, so I only hold a little BTC.

I'm not really sure what will affect the price? will it sell off? I see 2 days before the Chinese new year bitcoin price prices dropped to 8400, let's see if it really will have a negative impact, if later it goes below 8k it means it's true. think why people will sell their bitcoin when that day happens.

You cant stop people not to think up that way yet each event would really have an specific impression and anytime
we do reach up that certain time then it do automatically put out on peoples mind.Now its almost Chinese new year
but we cant still see some signs of decline but somewhat price had reduced for some hundred dollars.
Lets see if it would sustain or hold out.

Even if we can see the price drop at 8400 still we cannot relate this to the Chinese new year since we don't know actually if Chinese will sell their assets sin e in the first place we are in good condition these days and for sure those Chinese whales will doubt to sell their holdings for this early stage of the year since for sure they know they will earn more money for staying at the current stand.

There are a lot of other events in the year, like Black Friday and Xmas and Valentine's Day and every time someone wants to hype these events in the hope that it would have some kind of impact on the price. It never does and every spike or dump during or prior to these events have very little impact on the price.

There is just not enough evidence that the Chinese New Year has a significant impact on the price, so I think people should just ignore the hype that surrounds it.

They even do this with the Halving event and every 4 years the result or impact of these events are insignificant.  ::)

Yup, because normally we can't say on what happen because how does it affect? It was just coincidence that it would happen because there are a lot of news that can take over than saying the effect of yearly event.

Few days later near with Chinese new year look have bigger effect where bitcoin and altcoin back to lower price, I think always have bad moment with Chinese new year almost many investor and bitcoin holder from China will sell their bitcoin to celebrate with Chinese new year, I think two days later not good moment to buy bitcoin and better wait until chinese new year finished.

I also don't understand whether it is true that the decline in bitcoin or the crypto market was affected by the Chinese New Year, and things like this are always associated with big celebrations.
but it is possible that this is true or just coincidence, because the majority of users and investors of cryptocurrency or bitcoin come from China and they make sales to celebrate.

Today the Chinese new year is coming and now there are a lot of speculation will happen about the market price of the bitcoin or the whole market of cryptocurrency and some of us will think that the history repeat itself again the price of the coins will fall down every end of the year of January and brings back again after the middle of the year with the range of almost March to August. Looking forward i think it is better to hold if you already got investment and grab the opportunity to invest while the price is low.

It is likely that there will be a big influence when Chinese celebrations will come, even many people speculate that events in the last year will again occur. I think we can understand that because bitcoin users in China are quite large even in that country there is bitcoin mining that is large enough so that when the celebration arrives many will sell bitcoin to be able to celebrate the big day

thats what also happen last year right ? also on previous years , the price fell down before and during chinese year but the price recovers again after this event . china country were slight out of bitcoin before but this isnt about china anymore because many people around the world also celebrate this event . so the price reduction will still came.  cheer up guys , the drop for btc is still small but idk to some coins  but this help us to buy more in preparation for later events.

who can deny that China is the largest population in the world and technology is also advancing rapidly. so it is strongly believed that bitcoin revolves a lot in their area. Will bitcoin influence with the coming Chinese New Year in a few days? it also needs to be questioned, because the bitcoin situation at the moment there is no movement that leads to improvement, so I don't think there is any influence of bitcoin with the Chinese new year.

Too tired to look at the stats/charts you provide. What do you think? You probably have already studied the stats and already have a conclusion. Sharing your opinion over here would be helpful instead of just asking for peoples opinion. Like others have said, the prices have always been on the green side every Chinese new years, but is this just a coincidence? Is there any reason that causes the price rise?

Well the stand of the Chinese on Bitcoin in 2015 is very different from the present. Especially now that the Chinese government has their restrictions on this digital coin. Moreover, isn't it high time we stop linking Bitcoin with the Chinese. World New year and the festival period are gone, why will it be any different from this. Not trying to sound negative but some analyst online are always trying to create tension where there shouldn't be one.

Maybe there will be effect to the market about chinese new year but not totally big impact to the crypto market. Some of cryptocians are not focus to what holiday brings in crypto maybe there's some high in price of a coin but I think it will not totally big effect to crypto especially in bitcoin price. Every year there's a changes, restrictions and new regulations so maybe this holiday will not change what on the crypto market have now.

In fact, every time there are big days it will always be associated with the condition of the crypto market. As is the case with other holidays. Indeed, sometimes annual moments like that become an issue that has quite an impact on crypto conditions. Because most of them will be affected to release their coins. But does this mean a big impact? We need to examine it more deeply, especially on what actually happened to the market and analyze the graph of its development.

of course the activities in China will be stopped temporarily with the Chinese New Year. but for taking bitcoin, I think it's only as necessary, because it's only to fulfill needs. of course, the global market has become temporarily unattractive

Saturday, January 25 is Chinese new year and give bad thing for bitcoin price become down, how ever just left two days later for Chinese new year and I hope bitcoin could back to higher price again, I think two days left have not worried again bitcoin will down and bigger chance for bitcoin back to higher price, but we must wait until Chinese new year ended.

Right now, we're going through a probable week of correction.

We're still far from halving and that's another thing to consider. But as for those chinese new years that passed, there's really an affect that we're seeing or we might now know that the current correction is due to this?

Bitcoin can be stuck at a price of $ 8,300 in a few days it is a good thing, because this is an important support point, even though EMA 100 within 4 hours has passed we can still see EMA 100 within 1 day, hopefully it can be hold

It's was expected that the little change in this crypto world while the Chinese new year, but nothing we have seen in this system, it's true that Bitcoin price has been raised a bit in recent time along with other crypto's price, but it's not enough to get a good thing for the people because most of the people were waiting for a more price, whatever the case is, I hope 2020 will be the year of cryptocurrency and it's been started already following my aspect, I hope both Chinese and the USA government will allow Bitcoin and cryptocurrency as a legal virtual currency very soon.

Tomorrow is the Chinese New Year and I guess there is no connection between the price of bitcoin and this kind of occasion. Every year we have been tackles this situation and for me, it is normal to see a dump or pump price on the day of the Chinese New year and in fact, we should not be worried about the price of bitcoin because it's now slowly increasing. Whether the Chinese New Year has an effect or no effect on the price maybe we should still consider that bitcoin is volatile and the important thing right now we see good changes on its price.

Probably on my own, there is an effect on the market price of the entire crypto. Chinese New year celebration will make people there have a lot of money because they will receive a red envelope from their families. That is traditional and part of Chinese people giving to each other and I think most of them have money at that time. And now, those who have known crypto will surely invest and accumulate at that time that makes the demand surely increase.

Yes this is absolutely true. Even if we are commemorating the chinese new year tomorrow, this occasion doesnt have any relation to the bitcoins status because it is just only one day celebration and it will certainly pass just like an ordinary day. Because remember the chinese government banned bitcoins and any other altcoins on there country so how their celebration will affect the cryptocurrency status?

What could be the connection of the Chinese new year to the price changes of bitcoin? It is not that chinese people would be trading and buying crypto currencies at that time.

This new year for China means a lot, it is the launch of its stablecoin, and it will be competing with the best in its nature, they have prepared for more than 5 years for this, although they are directly threatened by Libra, it cannot be forgotten that it is a The path that will lead to Bitcoin, people will know the technology even more, and they will not hesitate to go the best way, they may use stablecoin to comply with the corresponding regulations, but the adoption will be the one that wins in its entirety, it will be a great start.

Agree, I cannot even think of any situation that Chinese New Year will be having a huge effect in the market. It is not that people during Chinese New Year will buy BTC because instead they will be celebrating holiday especially Chinese, of course. Well, it seems such topics won't be taking down even if it has quite an obvious answer.

Well, that is unpredictable as for now. We can not give accurate answer but we have different speculation on it.
First, --people there cash out their Bitcoin holding and spend these holidays come and enjoy at the moment together with their families.
Secondly, --people invest bitcoin because they receive a gift comes from their families and relatives. Something like that but we are still on speculation. Indeed, if we are talking about the effect there is a significant effect but we dont know if either up or down movement.

Always have different speculation about bitcoin price when Chines new year but for tomorrow I think bitcoin will back to higher price, after several days Chinese new year ended maybe bitcoin give chance for investor get much profit with back to higher price, when three months later halving time keep good moment for bitcoin have higher price.

Honestly, this wasn't really that big of a deal, normally I would be sad if there was nothing major going on and price dropped but 8.2k is still a high price from where we are just a month ago. So, if Lunar new year happened and this is all it can drop the price, I think we are fine. Remember we have so much things we should be really worried about, like halving getting closer and cost of one bitcoin to be mined will change (at least 1.5x more even with higher transaction fees) so these kinds of falls doesn't really matter.

We will get higher for sure after the halving, maybe not right afterwards but eventually this halving will change some things in bitcoin world. You think billionaire people like Jihan and roger would just let competition take up their profits? They will make sure to hold as much as possible without selling cheap and get the price higher.

the Chinese New Year is over, let's watch the direction of bitcoin will the price of Bitcoin go up or go down, right now Bitcoin is still in the support zone, if it hold I'm sure it will go up

Interesting, because many people, including me, think that there is no effect whatsoever. All those cashing outs by holders for buying presents and celebrating Chinese New Year with their families can hardly constitute even 1% of the BTC's daily trading volume. And the same goes for other big holidays in the world. The thing is that Bitcoin holders are not regular people, and BTC itself is not regular money. I mean, the holders would rather spend all the fiat they had on celebration instead of spending their precious Bitcoin while the price is still low.

in China, today is still not back to normal, the situation there is still very tense, even though the Chinese New Year ended the corona virus is a threat to China, even the world, if this virus is not treated immediately then the world economy will definitely be affected, including the crypto market

Looks well after Chinese new year where bitcoin and altcoin have back to their place with higher price, I hope with new moment in the next time not make bitcoin have lower price but keep stronger to be in higher price again, always looking chance how to get profit with bitcoin and altcoin.

We all say that it is because of the Chinese new year holidays because in the world the Chinese and the USA markets are the biggest markets and when there is any holidays in these two markets then the stock market of the whole world is affected. But it will not much affect everything one after a few days we will see a high boost in the market because everyone will come fresh to the market and they all will reopen their businesses with a high energetic move.

I think that there is definitely some sort of correlation between CNY and the wider crypto markets.

It seems as though that prior to the Chinese New Year there is a general sentiment of profit taking, in which traders irrationally dump coins in response to any sort of price movement to get out of the market (perhaps a self fulfilling prophecy as well, in some ways?). This could explain why $9k resistance proved to be extremely tough and the panic dump that ensued afterwards.

There is really no real link to back up this correlation, though. It could be entirely psychological and self-fulfilling, but I do expect a similar trend this year.

I'll be more interested on the weekly chart, say example a week before and after the new year historical price data. To see the significant effect of the Chinese New Year. But nonetheless, I see price on February or after January saw its uptrend trajectory. Probably we can expect a price increase soon I suppose.

this happened a few days ago during a national holiday between the countries, the market conditions would usually decline due to the large number of sales to meet needs. but now that we can see price growth again, business has restarted. China has indeed become one of the big places for crypto, and the activities they carry out will have a lot of impact on the market

there seems to be no big difference, market interest is far thicker than the issue of the holiday yesterday.

bitcoin is still evaluating several times to touch the support point as often as possible and on the 25th yesterday it has dropped to touch $ 8367 at the daily closing price, I even think the price will fall below $ 7000 at that time, but market interest is much stronger and reflects prices back up to $ 8600.

I was expecting the doge coin market to rise during the Chinese new year but this time we did not see a rise, in the past we would have seen an rally in the market but this time around the market was silent which means anything that happens in China will not have a big impact in the market.
With halving coming up we will see a trend reversal.

Chinese new year has passed and I think there is no significant change to bitcoin. when the Chinese New Year yesterday the price of bitcoin fell slightly. and in my opinion this is an ordinary decline. this proves that there is no connection between Chinese New Year celebrations with bitcoin. today bitcoin is starting to increase again hopefully this increase continues even though the increase is only a few percent hopefully in February bitcoin can reach a price of $ 9k.

If you have seen the trend chart of Bitcoin, the China, Korea and other Asian countries have a driving power for this market if you will see the fluctuation in the market and their effect from. Major fluctuation happened due to these counties only. almost most of them tend to buy cryptocurrencies. So therefore, The lesson I get from crypto market, buy a good coin, hold and forget. Come back in a couple years and check the value of your holdings. Cash out what you need. Come back when you need more.

well indeed I think they are currently thinking about how to deal with the virus that is spreading in their country and I think their economic conditions are not too thought about and they are more concerned with how to make themselves healthy again.