Effect of Chinese New Year Company Bonus (Hong Bao)

[hobbes]

I read there is something like a christmas bonus in China, too. Like a "hong bao" (chinese new year gift) from companies to its workers. Does anybody know how high this typically is and when it is handed out? Could it have an effect on the price? Or rather after new year to make good use of the gifts?

[1715663642]

1715663642

[manselr]

I read there is something like a christmas bonus in China, too. Like a "hong bao" (chinese new year gift) from companies to its workers. Does anybody know how high this typically is and when it is handed out? Could it have an effect on the price? Or rather after new year to make good use of the gifts?

Those things are impossible to predict. Maybe the chinese feel like buying the dip back with those bonuses or maybe they just spend it on gifts, who knows. What I have learned over time is that the chinese are very prone to stupid supertitions with numbers, it's like, how come it crashed in 8888 yuans? Too much of a coincidence... they probably panic selled there. The dumbest shit can trigger a panic sell.

[mainpmf]

I read there is something like a christmas bonus in China, too. Like a "hong bao" (chinese new year gift) from companies to its workers. Does anybody know how high this typically is and when it is handed out? Could it have an effect on the price? Or rather after new year to make good use of the gifts?

Indeed and it should have a great effect on price.
If you look back to the period of high consumption in Western world, price goes up. For example Black Friday is a period well known for a trend clearly up. Chinese New Year is a time of high fiat circulation, among the Chinese people families hands out numerous gifts to each other and ESPECIALLY to younger people. That means they could bring some cash in BTC.
But don't expect presents, that's not how Chinese people do, they give each other red envelops full of cash!
Presents are a very Western tradition.