Boring market with no strong movements during Chinese holidays

[ashkanb]

feb 8? that's more than a week from now and already things've been slow for a couple of days, at least...
it'd be curious to see what exactly is the effect of the chinese holiday though...

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[talks_cheep]

I think the bitcoin market will be so boring in the next days with slow price movements because of the upcoming Chinese holidays.
What do you think about these holidays and how it will affect the btc price ?

We might actually find out the true price of bitcoin if the Chinese markets are closed.
Lots of manipulation in those markets.

You must be new here [/sarcasm]

Are you sure only the Chinese manipulate the market?

[oblomov]

You know fellas, bitcoin is/was supposed to be a currency, right?  And one quality of a good currency is stability, is it not? 

Anyone?  Anyone?  I think a lot of us have lost sight of this and just want deflation or a boom or whatever.  Boring markets are what I think a lot of bitcoiners want.

I think what bitcoiners are looking for is an upward-trending market, not a stable market per se.

Although currencies tend to be more stable than equities, a currency pair can enter a strong trend based on capital flows and perceptions of economic conditions.

[iv4n]

Nothing important will happen for sure, price will go up and down a bit but that happens always. I`m good with boring market, that means everything is ok, no bears and wheals..
If we see price rising after holidays we will know why is that happening, China is awake! In that moment we will see how much big is their influence on btc price.

[Swordsoffreedom]

I think the bitcoin market will be so boring in the next days with slow price movements because of the upcoming Chinese holidays.
What do you think about these holidays and how it will affect the btc price ?

The Chinese do still make a majority of the trading, if they get bored and feel like buying some more on holiday when they are returning home we might see some spikes otherwise it could just remain about the same some Chinese cashing out to bring money to family while others buying in and investing for higher returns.

[rebuilder]

You know fellas, bitcoin is/was supposed to be a currency, right?  And one quality of a good currency is stability, is it not? 

Anyone?  Anyone?  I think a lot of us have lost sight of this and just want deflation or a boom or whatever.  Boring markets are what I think a lot of bitcoiners want.

Trouble is, stability increases utility, which increases value.

[BellaBitBit]

This is an interesting thought. Maybe they will spend extra cash on holiday and it will keep the price "boring".  I think a lot of bitcoiners like "boring" so they can get more.  I also like what someone said about seeing the true price of Bitcoin while the China markets are on holiday.  Who knows!

[zby]

And I think it will be far from boring very soon. Either it breaks the support and goes to 300 (and maybe even breaks that) or it bounces back - and possibly tests 470 again.

[8up]

And I think it will be far from boring very soon. Either it breaks the support and goes to 300 (and maybe even breaks that) or it bounces back - and possibly tests 470 again.

I am long $BTC here with a stop at 357$.

Long term long (investing).

Not suggesting anything.

My analysis though says it is a very good entry point and we have a pretty close stop (I will sell manual in a higher price of 357 if I can, in case this goes bad).

Bitfinex prices.

Couldn't agree more. IMO we'll see some "unexpected" behaviour in the next 10 days.