Bitcoin Forum

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

Do not overestimate the influence of new year. There are many other resons that move the market now.

The news has long worked , Now I think is turn of the market and the growth of the market , enter a good volume . Down who'll be going

It can, but this time around it has not had a huge effect. More often than not the reason for price movement is anticipation of an event rather than the event itself, and if everyone is expecting a certain effect at a certain time, then it is already priced in.

Well if you thought it effected it negatively leading up then you are likely in the camp that thinks it will react positively after or around Chinese New Year. I have no idea why this phenomena happens or why people think it does, it must have to do with how expensive parties are in China prior and then right after a boatload of cash shows up ::).

Yes new year is affect the market u can see graph all year is happen the same big drop... the thing is to  buy on this drop or no..i buy lot off alts in this time and im now good x2 on all alts..the best for me is hive project.and yes wait more for february end and then see what happens with market,but i think now market goin all the way up!

It may affect for chaina based coins .. NEO   etc

Chinese New Year does not affect the crypto market. I think that the crypto market fell not because of this holiday, but because the correction should have happened long ago.

You are looking at it the wrong way. Its not rising because of it, it declined before because of it! Thinking process would be january and february had a lot of dips, and the main reason is first all the world took out some profits in january because of the new year and having the money to spend on gifts, enjoy free time etc. And then came the chinese people after that doing the same thing but bigger influence because chinese people have lot more money in crypto and they moved the market a lot and now when the cashing out is over, the market started to stabilize and having new money flying in. Hope that cleared it out a bit

I think yes as there might be whales who are news traders. They are people who make use of events to their advantage and people are very susceptible to these sorts.

Maybe? Because after chinise new year we have seen that the price of bitcoins has risen really. So chinise new year might have been affecting what's happening in the market today. But maybe it will not fall again. to keep the 40,000 $ price and be happy all of us.

It might be affecting the market,because most of the chinese whales are cashing out from the market because they needed some cash to be spent in their holidays,just like what happened on christmas and new year last year!Most of the people cashout resulted into a market crash,but after this chinese new year the market will surely grow.

It was expected that the Chinese will sell bitcoin to buy presents,  and the price must have gone down.  But as it turned out,  the Chinese new year didn't have much impact on bitcoin 's price.

i don't think Chinese New Year will affect too much on the market. But i do believe there will be dumping within a month soon before it start to rise high again.

I am not sure if it's because of Chinese New Year but markets have picked up

Pls tell me other reasons :)

every year happened same, So, I believe that has happened again this year.
But good news is, Crypto is shining now :)

Somehow it can affect the market,because if most of these big chinese players cashout their money simultaneously it will result to a market dump.Most of these people will surely cashing out their money because need some cash to be spent in their holidays if you asked me it is like what happened from the previous christmas and new year.

Yes , market always affect when the holidays come because almost all of us needs money. Hoping  after Chinese new year that all back in normal.

Double opinion. One part of me agrees, the other part does not agree. Most likely, both factors worked. And the new year in China has made its own contribution, and the correction is the same.

Many people think that as soon as China celebrates the New Year, the market will come to life. But I think that the market will begin to grow rapidly after large exchanges open registration.

Dunno if it's too early to say, but so far, its effects were basically nothing...

I was certainly expecting something more dramatic.

You mean like deeper falling of the all market? I hope it will not happen for now.

Chinese New Year made the biggest negative impact. The Chinese did not trade crypto money during the new year. The transaction volume in the crypto money exchanges fell to a minumum level. It took a long time to recover the prices.

We know that China has a gigantic number of investors and in parts affected the current market yes, but not in a consistent way but in a simple way that generated small high percentages. In my opinion a lot of expectation was created over this celebration and consequently it was not reciprocated.

Of course will affect, but it's just like any other big day. Especially before the day of celebration, those who celebrate need more fiat money, then sales on a large scale occur

dit it happen like that the years before ?

All market is affected on Chinese New year. But most of the Western Countries are holding their coins, Asian Market is starting to fund money in Market now. Everthing's gonna be fine soon. Bitcoin is moving now and alts are following also.

http://supchina.com/2018/02/15/beijing-was-awfully-quiet-this-year-during-chinese-new-year-eve/

They were awfully quiet in regards to crypto as well apparently. I wonder why the reason is. ;D

I think there is a relation but I wouldn't overestimate it.

Anyway, the most solid strategy is simply to buy and hodl - don't care about Chinese new year at all.

If most of the chinese whales cashed out yes it will affect the whole market,because these people needs some cash to be spent with their holidays,after the chinese newyear we  should expect more healthy market than we have today,altcoins will surely grow more in the next few months so stay tuned and hold your precious coins.

This is what we've all been wondering for the past two months.  Here's my thing:  Chinese don't do anything during the New Year, so why is that causing price do go down?  Doing nothing would imply that they just leave their coins locked up and HODL, this would cause a raise in price in my eyes, not a decline.  Maybe the lack of action changes RSI/demand and makes coins appear oversold and it the market drops as a self fulfilling prophecy.  It does look like there is a historic drop around the time of the Chinese New Year.  

I think so, since many investors are starting to derive profits from assets, and the willing part of the population wants to spend a vacation with money. In fact, there are many reasons, as I can still assume that whales can at this time be good at speculating in the market for their own purposes. But this is just my opinion, nothing more.  ::)

Of course if most of the chinese whales are dumping bitcoin because of the chinese new year surely it will affect bitcoin's price,if bitcoins price will fail most of the altclons will follow its path,another bloodbath will happen.Chinese has the most bitcoin in the world that is why anything they do will affect the market.

Certainly yes, I did not know that detail but now I learned more about the market  :o

Who said to you that bro. Chinese new year and Christmas holidays make the bitcoin price bumped. Even the altcoins value rapidly grow along with the bitcoin every year.

I see minimum bitcoin martketcap reduced end till 321 billion but from the past 3 days it increased in the marketplace. Hopefully it will not go cheap more in the value or market capital.
I believe this price growth reach up to 20k USD.

Hi, I don't think Chinese new year affects market, it is just timing we had a massive pump which collapse after 2 months of mirth, now price are slowly coming back to their usual growth, anyway happy new chinese year all, hope you'll all have success and wealthyness

Evidently it does. With festive period people need to liquidate assets and trading volume usually drops. However, we can see things picking up pace in the community gradually. Bitcoin reaching $50k USD this year isn't totally impossible, but with festive periods lined up, there will be bumps down the road to that target. So all we could do is tighten our seat belts and make the most prudent investment decisions during this course.

I think yes as the traders and the trading volume will comeback to the markets after the holidays we can expectthe market to grow nicely post chinese new year.

Yes it affects because chinese has the larrgest amount of bitcoins today,even they have some ban in china some of the chinese still trying to trade their bitcoins,or they might be migrated to other countries to prevent these regulations in cryptocurrencies.If most of the chinese cashout all at once surely it will result into another bloodbath,so yes it has some impact.

Yes of course. Chinese new year is the most important holiday in a year for Chinese people, it's the time people stop working and cryptocurrency trader and investor are not exceptions. Beside China is the biggest country in the world related to cryptocurrency and it's also one out of the biggest cryptocurrency market all over the world so when all the trader and investor in this country stop working for a week, it'll affect a lot the the market and it's also the main reason why few rencent weeks the whole market painted in red.

Even though China is one of the country that not accepting bitcoin/crypto currencies. I think Chinese New Year will not affect the market because they only celebrate there yearly tradition as a chinese people.

I think - no. Why you think otherwise? Only based on the hype around or?

People are overestimating dates, events, etc. Holidays like any others. You could expect a lower trading volume and that's all.

I don't believe it is the Chinese new year celebration alone that is pushing the market upwards. It may have contributed but they are several other market forces that is dictating the market movement.

Theres nothing to do about chinese new year to make the price increase in the market. Maybe it is only a coincidence that many trade or bought some coins during that day.

I honestly don't know. Many people are telling me it is but I have my doubts. I don't think many people will suddenly start investing because some 3-4 week holiday is over. However I'm not too familiar with Chinese culture so it might. Just remember there's a lot more factors and even if it does affect the market, other things could affect it the opposite way around the same time.

It may or may not, It's always in transition period, Wait for another bull run buy and hold some coins. Right now the market is going healthy and it's going back to it's correction. Just hold your coins and don't sell anything.

When the price is moving up and down everybody tries to find rational explanation of what is happening at the moment. And in that case you should remember that whales have their own goals and explanations. I think it affwcts on market, but not that much as people are talking

So right now its the second day celebrating right? No major price fall so far, btc still over $10k. And as I understand its only this weekend right?

It might be just coincidence. If bitcoin drops or not, its just because its designed that way.

I believe that the Chinese new year has an impact on the market, but now even that is not enough to drop the price.

It seems that everyone is trying to convince that there is impact. Although it is not clear in what exactly it can be and whether it should be taken into account at all. anyway, happy new year for everyone! ;D

That is true ! Thx for sharing your opinion :)

yes it affected because this new year holiday very long. and china have %50 bitcoin market. so 20-25 day not doing any operation about crypto

i think it is not only the factor that affecting bitcoin price.
there are some other factors too such as uncertain regulations that make peoples sell their bitcoin.

Do you think that the Christian new year affects the market price? Or the Muslim new year?
Which do you think affects more the Chinese, the Christian or the Muslim?
I believe that now, you have noticed that all these dates are just simple days as any other of the year and none of them influences more than the other.
The only impact that can have on you is that you will probably not trade this day because you will celebrate with your Family.

In my opinion at this time bitcoin began to rise because before the new year many people who sell their coins because it takes money to celebrate the new year and holidays.
This time the period has passed so people start to maintain their coin so the price goes up again.

It slightly affect the market but the real reason why the market is rising is because of supply and demand. There are many people now that are aware of Cryptocurrency and they are the one who moves the market to rise.

Chinese New Year has arrived and i can't see any significant change of bitcoin's market price that is why the cryptomarket is still stable before and after this big Chinese event.

The Chinese New Year could have a significant effect on cryptocurrency markets.Chinese and South Korean bitcoin investors frequently exchange their crypto holdings for fiat currency during the holiday.

For me is not affected because I see their markets all coin before the Chinese new year and Chinese new year still was running as usual price of all markets is still not stable the ups and downs of prices.

Holidays affect market before holidays not on holidays, because people withdraw money to spent it on holidays, not after :)

No significant effect as we can all see. Events like this may or may not affect the market. We really don't know. I still think that February is too early for bitcoin to rise. It is still in the correction stage. There will still be lots of happenings that will affect the market.

Yes, it sure does. Most money in crypto is from chinese investors and they go the fiat way during chinese new year which brings the price of crypto down. Its just a momentary phase and nothing one should be concerned about.

To some extent, the Chinese New Year, which is celebrated on February 16, has to do with the depreciation of the crypto currency. However, this, in all likelihood, is largely a seasonal decrease in its price. This year, a sharp decrease in the bitcoin rate was due to its sharp December increase, the presence of shortcomings in bitcoin due to its insufficient scalability, negative world news about the crypto currency, and to a large extent false. Unsurprisingly, after the flow of these negative news ceased, bitcoin slowly began to rise in price.

I am also very curious about this problem, when all people think Chinese New Year Chinese people will cash at that time, so instead of rise in the price of the bitcoin, it makes me very don't understand, what it is because. ???

Some people consider holiday seasons as a contributor for bitcoin and altcoin value.  In broader sense, investors attitude toward seasons might be a factor but logically do not barely lies on it.  The deflation of bitcoin value for the first month of January is due to the correction of price due to very high price bitcoin reach on the early week of December plus the bad rumors, news and speculations regarding bitcoin affect bitcoin value on the preceding days.  Last Chinese New Year, we experienced a bit increase in bitcoin value because bitcoin started to gain trust again from its investors because negative news and speculations regarding cryptocurrency stops. 

We all know that Chinese community has a big impact in crypto world but I think it not affect the market at all because there are more reason why the other crypto become low,like bitcoin drops because some article said that bitcoin will be dead so therefore the other investor become panic and they sell their coin that's why the demand become low.

Maybe, because some people considered holidays season as a contributor in altcoin and bitcoin. Specially the Chinese community that have a big impact of the movement value of crypto community. For me there no something special for Chinese new year that can affect the value of cryptos.

I think I also agree with you, many people who do hold during holidays, especially in south korea and china. both are countries with high trader intensity

Yes! I think so! Because many member from China join to trading and now is China Holidays!
i thinks, all coin will grown up after next month!
Thanks

No, there are a lot of force moving crypto market beyond Chinese new year. The media most especially is the number one force moving the market whenever there is good news the price moon and when there is a bad news the price drops.

Many people said the reason of falling is chinese new year in this forum. I think they were right. It increases day by day

I think yes instead of negative its positive, I thought it will go down the price of bitcoin because of chinese new year but no, bitcoin increase maybe they don't want to withdraw yet.    

get ready for prise jump over 14000 usd .
if we can close 1 week over 14000 usd than it will be a nice supportline for this year

Maybe Chinese New Year really affect the market since lately after the new year finished the bitcoin's price is rising, I think there are new investors  buying bitcoins coming from chinese people. Still there are many more aspect that affect the bitcoin's price so who could just a assume that chinese new year is one of them.

Now we wait for 12k breaking. After that we can look further by results - success or no and how. If bullish trend that means china's traders are smart and nothing prevents them to trade. Now - simply wait

yes for me Chinese new year has a big effect at market price  because, In Chinese New Year, people make a lot of purchases in the lead-up, and then over New Year itself they stop spending. So a lot of the spending happens in the month before New Year. In other words, Chinese people were cashing in their bitcoin gains to pay for the holiday excesses. There’s a lot of Chinese players in the cryptocurrency space. At Chinese New Year, some people are selling off to buy what they need to buy for the holiday. As an investor,this is a  good opportunity to buy cryptocurrencies.

I think the effect of Chinese New Year is not due to the chinese traders cashing out to buy gifts. I think the belief of chinese crypto traders is that they do not want to get into large financial investments just before chinese new year, as they have a long period of rest and celebration. Hence they divest out of big investments especially the risky ones.

After the new year, then the Chinese will get back to the markets...Chinese New Year is an important event in China and families meet for reunion and share about their good news and brag about themselves over dinner and drinks. No one wants to go into Chinese new year being broke or without job... so usually chinese dun quit their jobs before Chinese new year and they also dun enter into risky investments just before the celebration.

If everyone noticed, the crypto markets started to recover after thursday night.. that was the most important Reunion Dinner where families meet up. After that dinner filled with bragging and sharing.. the chinese traders will be able to start trading and taking risk again.

This is just my speculations based on my observations over the years :)

Thanks for sharing your idea!

chinese feast may affect the rise of bitcoin prices, because the holiday is a happy day, many giveaway is implemented, many also discounted prices

I think Chinese people affect the market wit their actions. I don't think they are doing too much investing around Chinese New Year and their absence is what make the big difference.

The Chinese New Year affecting the cryptocurrencies market is undeniable. Currently, China has the most substantial number of cryptos owners in the world along with the Binance exchange floor. It can be clearly seen that now after the Chinese New Year and the market is showing signs of recovery when Market Cap has increased by 10% compared to last week.

So the theory is that before the Chinese new year people sell their BTC because they need cash. And that sort of crashes the market a little, and the rest of the people just follow suit and everyone dumps in January historically.

I think that it's just hype, but hey, it's giving us a chance to recover from the terrible losses in January.

It does affect the market, just dunno how it does. Nobody knows. But i think it's all psychology.

No one cares chinese new year i think . Lets says it effected, its good for us. Otherwise, it doesnt matter. So, no efficient ;)

I don't really understand the direct influence between Chinese new year with bitcoin market? Chinese new year is over and currently bitcoin market is in the recover stage, prices continue to rise, before many people predict prices will go down because of chinese new year? but that did not happen at all and I can speculate that Chinese New Year does not have a significant effect to bitcoin market,

Why you said that is not huge effect? Did not you notice the huge correction this time?
I dont know what make this correction but i know one of the reason is chinese new year and also other reason combine.

There’s a chance that chinese new year affects the prices in the market. It’s just like last year when the month of october to december hits the demand of the value of the altcoins. Holidays really affect the prices of the altcoins and it’s a good thing for us, so we can have a good profit when we invest.

I think it does in some sense because of Chinese people makes a lot of purchases. It is undeniably a fact that when the market plummets through January, in February it will rise up again. The Bitcoin price fell as low as $6,200 as many proclaimed the death of Bitcoin for the umpteenth time. However, Bitcoin is back at $10,000 and keeps climbing as the Chinese New Year approaches.

I might affect in someway cause as you can see the market price is going up. I don't really know what is going to be happen in upcoming weeks. Wait for the March !

very influential, because we know if china is a big cryptocurrency market in the world so with chinese new year with sell or buy i think will affect the market and result in up and down market price.

I agree with you my answer is yes also. From my perception is that CNY most people need to buy many different things range from food to decorations, and that means they need money in order to by those items. One they might not have the money to go invest into the market at this moment, secondly they need to withdraw out theoir btc or eth to buy all this things.

indeed there are certain days of influence, but sometimes not necessarily and imlek too this time does not contain an amazing increase or decrease

I haven’t in mind any idea why and how Chinese New Year can be influential on cryptocurrency market. But seeming the tabs  and graphs I think that some connection is exist. At last time many coins started to rise.

Not goverments, not Chinese new year, not another mystical things about dropped price. Thats only correction and manipulations to price.

Yes, but as many ppl expected, I thought Chinese was going to sell their coins for the annual event, which means the price had to decrease again. However, it is increasing somehow! so I really wondered how this happened and could be explained.

every year the  closer we get to chinese new year eve, the higher the chance there will a strong drop of all coins on the market, this drop happens every year when we close to Chinese new year, because of many investors wanted to sell their coin into money to use in their hollidays, that is why the price drop in this month of every year.

As you already saw, there is an affect. In past few years market dropped before Chinese new year and then recovered strongly after the new year. I think same happening this year as well.

Yeap, when thousands chinese miners sell their's Bitcoins, it affects to the market for sure. Probably that's the only reason why BTC is not the moon right now.

Does end of year profits for the Chinese mean anything.

as far as I know does not seem to affect the market at all. but the token distribution slows down. make people wait until the emotion.

yes of course , China is one of the biggest crypto market in the world, so this will affect directly the market

Oh, and how it affects. Now such a situation on the market is just due to the Chinese. Crypto currency is not tied to anything, but depends on some factors. The most terrible enemy of the crypt is rumors.

Chinese are good investors as well as good crypto market managers but such news of there effect are produce by those who know few about crypto and the Chinese. They cause offset in the market that leads to dumps. Chinese whale exploit the market more during the dump to accrue more coin.

In accordance with statistic data Chinese New Year is affected the market but this influence is insignificant. I think we can see just a bit slower growth of market.

So, has it passed yet? Didn't exactly see a lot of affects.

China is a strong player in the crypto currency market. But now we can see that the Lunar Chinese New Year has not had a significant impact on the overall situation of crypto coins. Although, perhaps we will see changes in the near future.

so far, it's nothing. i think most people were expecting a crash but it's really hard to tell.

yes of course very influential, because ahead of Chinese new year, very many people cashing out to meet their need to celebrate chinese new year

I have seen a lot of people saying the lunar new year has a huge affect. Asia accounts for 60% of the market, 1 billion people travel, and spend 100 billion during the festivals. We will find out soon enough. Ends on the 16th, see how things look on the 23rd

it seems to me that yes, maybe whales, which are traders of news. These are people who depend on the whole market

Binance said that 4% of users are from China. Binance has 5.8 Mil users. So you can imagine what Chinese are the largest exchange of the world...

Maybe this helps to answer your question

Just like the trend that usually comes with christmas, people usually spend/exchange their coins for fiat to be able to buy gifts for thier friends and family, and for us the Chinese New Year isnt any different but because of the introduction of regulations this time around the market has seen an opposite reaction which has caused prices to stablize and soar at the same time.

Yup. Don't forget individuals need liquid cash to spend during festivities. So people will have to sell. Asia has one of the highest holders of crypto in the world. Also there is the case of the winter Olympics currently being held in South Korea

If they sell their coins. Right now it seemed to be largely unaffected by their new year though i think.

true, china is a big player in the crypto market especially on the continent of Asia. the big Chinese miners even many who cashed it, because they certainly need money to celebrate the Chinese New Year. we can all see changes after the Chinese New Year through the crypto market movement is improving again, it is china taking the lead role in this largest trading of crypto.

Its like you are asking us if the market was affected because Donald Trump went to the toilet at 12 midnight..lol. Market was affected because we lost 2 big players on our network and there was a need to make a correction.

Yes, the New Year is affecting the market, but not all, and a lot of it is for other reasons.

China's Spring Festival has passed, and now the price of bitcoin is growing, which is a good sign!

I also think the same thing when I see the price in all market coin has decreased, I also think all this because of chinese new year, because most of our investors come from china and is currently a celebration oasti require a lot of funds then the price of all markets

There's nothing to do with the New Year and the Chinese, it should have happened sooner or later. Now everything went into small growth and started to please our wallets a little.

Chinese new year really do affect the Crypto Market as the international major holidays like Christmas, Gregorian Calendar New Year and other important holidays around the world will do affect the Crypto Market because people tend to convert their investments into cash money in order to buy anything for the preparation, occasion  expenses, gifts for loved ones and other important things for the special holiday.
That's why Crypto Market will surge back every time the world special holidays are passed like previous years, Bitcoin, Ethereum and most of Altcoins do have droppings on special holidays especially on Christmas and New years.

Yes, It does! because Chinese offices and factories close for about three working weeks, allowing workers time to travel back home to spend the holiday with their families. It is, therefore, the largest holiday week which obviously affects the trade and business, even if it is crypto business.