bitcoin and chines new year

[Shreek]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

[Afnan_faizah]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

I think they will sell their bitcoin for fiat. Usually they give fiat as "angpao". Need better news, I hope more countries accept bitcoin, this kind of news can makes bitcoin price rise. Like happen a few months ago while japan accept, asian market looks to bitcoin positively. Media has very great impact on bitcoin.

[VashStampede]

Chinese new year is not the problem.   Big whales there will never be lacking cash just because it is Chinese new year.   

Small fry won't cause much impact even if they all sell.  Most of them sold already back in September before the ban was in place.   

[Bianca Azure]

Hi, Buddies..

I think they didn't buy bitcoin witha angpao..
i think they buy bitcoin for angpao...

Anyway, i apologize this just for intermezzo, i knew everyone was stressful with bitcoin traffics..

[budi691]

can the Chinese bitcoiners withdraw their investments to prepare the Chinese new year already in sight. Because needs can be the main reason. and do not forget the current dollar value is also declining. 

[shadowdio]

can the Chinese bitcoiners withdraw their investments to prepare the Chinese new year already in sight. Because needs can be the main reason. and do not forget the current dollar value is also declining. 

hopefully not, but if big whales going to withdraw their investments for the chinese new year then let's expect the worst down under $5,000 sometimes holidays affect bitcoin.

[iwishicouldfly]

Chinese people don't need to withdraw bitcoin for FIAT, they already have enough money.  There's no way they are withdrawing funds to give out hongbaos.  This isn't Chinese New Year.

[Shreek]

Good thinking, I'm afraid they'll more selling bitcoin to buy angpao and celebrating Chinese New Year, so the consequences of bitcoin will be even more down drastic.

 and we know that china is the biggest crypto trade country. If they sell some of their bitcoin for chinese new year, then bitcoin will drop to the point of $ 1000.

[mutrang23]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

Many people are looking at what's going on, but it's a risk to invest in crypto. Stop being too nervous about your nose when you see the market going down that sells all you own.

[FH Hussin]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

In my opinion, most of the people who celebrating Chinese New Year will be selling more even if the price go down, but the other people who not celebrating officailly the "CNY" will be buying it more. I will buy more for myself for sure.

[Zagitta]

Chinese new year and valentines day both will have an impact of price.

[Ariess]

all we can do is wait and speculate, nothing more. this decline correction is so deeply felt
there are some possibilities that will happen next in china new year. yes, I just wait and keep monitoring until I'm sure to buy lots of bitcoin.

[frery]

I think they will sell more bitcoin because Chinese people need to redeem bitcoin to buy more items for the Chinese New Year. But I do not think China's Spring Festival will have such a big impact on Bitcoin, for sure, there are other reasons.

[mary0919]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

That is true due to the upcoming Chinese new year this is one reason why bitcoin crush down. A lot of Chinese people are selling their bitcoins and converted into fiat in order to spend for the Chinese new year. Let us observe the days after Chinese new year if bitcoin will rise again.

[warkop121]

does it affect the current bitcoin price?I also think so, but banning the bitcoin in the carousel a few months ago makes the negative bitcoin trend.
but see the positive side of the bitcoin decrease, you can buy and hold it.
I would buy a bitcoin splash and hold it, because this is an advantage for me that has limited capital.
sit back and sell next year.

[Yhammy]

I am hoping it will raise up after Chinese new year  I am still #hodl  and still buying in dips.

[Notcalculator]

I dont think it's much of a factor as other world events. Recently, the stock market has also been crashing. Maybe that's a more relevant factor. BUT if it it did have any correlation, i agree with the other posters. Chinese new year would just encourage them to spend thus converting their BTC to fiat

[lucario21]

Today bitcoin shocked me, dropped so drastically to the amount of $ 6000. making some people worried. and some call this condition is a good crushing.

and within a few days we will be facing Chines new year, how do you speculate when bitcoin meets a chinese new years? will they sell more bitcoin or will they buy more bitcoin with angpao?

After chinese new year maybe some chinese investors will hold their bitcoin until 3rd week of their new calendar because we all know about chinese belief that taking out money at the beginning of the year will be bad luck in business. But I'm sure crypto currency will recover atleast at 2nd quarter.