3 Reasons Why Bitcoin Always Declines When Lunar New Year

[Wind_FURY]

I'm pretty sure op has no idea what he's talking about lol.
Op, please explain #1, I'm curious. 

Haha. I believe the OP doesn't know how to speak English and used an online translator.

I also googled "Ang Pao Na Lai" and this came out,



Ang Pao Na Lai might be those red envelopes with cash that the Chinese give each other during the Chinese New Year.

[Kemarit]

I'm pretty sure op has no idea what he's talking about lol.
Op, please explain #1, I'm curious. 

Haha. I believe the OP doesn't know how to speak English and used an online translator.

I also googled "Ang Pao Na Lai" and this came out,

~ snip ~

Ang Pao Na Lai might be those red envelopes with cash that the Chinese give each other during the Chinese New Year.

In our local dialect we call it Ang Pao as well (because we have Chinese influence as well) and yes those are red small envelopes that you need to put cash before giving it to someone as a gift or for pure luck.

Anyways, back to the topic, last year almost everyone call it, that bitcoin will decline during or after Chinese New Year but since it's we're on the 2019 calendar and the price is still on the decline. So there's no correlation after all whether it's Christmas or Chinese Lunar New Year, it has no effect whatsoever in the price.

[el kaka22]

It is exactly the same as the regular christmas or new year and nothing different, just instead of a global thing or a christian thing it is just purely chinese thing.

Normally, on new years and before that people sell their coins so they can cash out and buy stuff, the trees the decorations the entertainment out on a restaurant or something the presents and what not, it all costs a lot of money and people usually spent a lot on stuff like these. That requires a capital and in todays' world not many people have cash to withdraw from bank to spend on stuff like these, some people have investments on stocks, some people have savings account with interest, and some people like us have money in crypto to cash out and spend on these things (like I did on this new year) hence all of these that happened on our new year, happens on all chinese new years as well.

[BrewMaster]

let me take a different approach this time.
lets start from yourself. you are here so i am assuming you have invested in bitcoin. so let me ask you this, do you sell your bitcoins before holidays? how about other investments? stocks, bonds, gold,...? do  you sell them before holidays?

i am looking forward to hearing your answer. because that is the biggest problem with people who speculate about bitcoin nowadays, they read something online and then think that is correct without thinking about it. when you are not doing something, others don't do it either because of the same reasons. in this case these are your investments, you don't just liquidate them before holidays. you may cash out profit but you do that during rises not after falls at the bottom. and if you are doing otherwise then you are not such a good investor, maybe you have to rethink your strategies.

[boty]

I'm pretty sure op has no idea what he's talking about lol.
Op, please explain #1, I'm curious. 

maybe he only speculated because he was getting tired because the price of bitcoin could not show a price increase anymore  , but it seems like yesterday the price of bitcoin occurred pump which made the price of all cryptocurrency start to rise after the Chinese New Year.