Chinese New Year?

[rdny]

The chinese probably has cashed out their profits. So what we have seen in the past few days is them cashing out. We could expect bitcoin and crypto in general to rise in the coming days.

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[misterj]

Actually if you do a research you will in the past charts that the price or value of bitcoin usually drops every february. Thus, making chineses new, a one reason why i did so because we all know that huge part or most of bitcoin owners or holders are chinese. Which affects the price during their festive, just like our holidays we tend to spend a lot of money which supports this speculation. A lot of chinese spends during chinese new year thus requires to withdraw or exchange their bitcoins which makes the value of bitcoin drop.
Here the picture I was talking about:

Disclaimer: picture not mine. Credits to the owner.

[Alex_He]

I don't see how Chinese New Year will impact the market in any significant way. Maybe less news on the "banning". There will be no crashing due to Chinese cashing out the coins. Chinese always have enough cash and savings, remember that.

[Tomaltcoin]

I have some chinese friends and they dont think it will go down  due to their newyear.

[udidrone]

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

if you have spare money it is better to stock bitcoin when people sell it. it always happen but bitcoin price always back to increase. i know some people already know it and they stock bitcoin at low price

[mrspumpkin]

The chinese probably has cashed out their profits. So what we have seen in the past few days is them cashing out. We could expect bitcoin and crypto in general to rise in the coming days.

If the current crach depands on the cashing out by the Chinese (I doubt this is the real reason), you shouldn't expect to rise of bitcoin price in the coming days. China plans to celebrate the New Year from February 16 to March 2. It will not be soon 

[Kryptonitka]

The price of bitcoin is declining and privilina not only in the Chinese new year, but also in what is happening now in the world. Very poor news background. But I think that price recovery is just as inevitable.Just need Hodl and wait a bit.

[alkhie01]

It will not really affect much the value of bitcoins or other crypto.Not all  Chinese are involve in crypto currency and at the same time they already cash out that's why Bitcoin are on it's dip now.The best thing to do now is to buy and hold.For sure there's a big profit coming after all.

[Brat ipoh]

a lot of speculation that after the Lunar new year is the beginning of the rise in bitcoin prices,we look at the previous couple of years that when the Chinese new year,the market price of bitcoin is very bad and after some time after the Lunar new year,the price of a bitcoin direct to go up drastically.

[PaPog]

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

I think i will keep waiting for mid february even to march.
Chinese new year maybe will affect the price a little, but i don't think it will be significant.

[amitkumratra]

Ya off course Chinese new year always gave negative effect to crypto market. But i think almost Chinese withdraw there money during crash down and only few were left who sell there coins. So according to me u can't see very big break down to crypto currencies during Chinese new year which is expected by everyone. If u want to saw all currencies on there previous prices then wait till March-April.

[crenfrosck]

There is a possibility of another "crash" and it might be worth having some extra money in fiat to buy cheap. There is a question how much it can influence the market as we have strong FUD for quite a long time going on, so I am not thinking that this event will bring another big crash, or if that happens, there might be strong FOMO after the end of Chinese New Year.

[cryptogeek101]

 Bitcoin Price speculation in china and the impact on the market is something we really have to critically look into. In china Bitcoin itself is legal in the country, it is only bitcoin trading that is restricted.  I think in any market economy what causes the greatest impact is the trading activities in exchange market. But we all know that Chinese government has ban bitcoin trading and shut down major exchanges in recent times. So when we talk about Chinese new year festival causing the crash in the market I begin to have a question mark. What I think is causing this down trend is the panic from these wrong information sources. When people hear that China is going to celebrate their new year festival and that price will fall they begin to panic and start selling their bitcoin and other cryptocurrencies. It's not the festival itself that is causing the crash, but the panic. Until we learn to stop panicking market prices will continue dive nose. Thanks

[asdfbna]

I do not think most Chinese people are involved in bitcoin investment. Although Chinese people spend a lot of money on the New Year, they will not sell all the coins. So I do not think Bitcoin prices will go down because of Chinese New Year.

[Getmon]

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

I am not chinese and I do not practice the chinese traditions during chinese new year. I am not sure about this either but as far as I know it is during the chinese new year when the chinese will buy a lot of things. I have heard that chinese strictly observing their cultural traditions will be replacing their house furnitures and decorations and other stuff during chinese new year. So I guess there will be strong buying also of investments during chinese new year.

[CryptoTechnik]

Nobody knows what the future holds. Have a plan for all outcomes. Buy more the more it dips. Easy.

[xuan87]

I personally think that the market is going to go down when it nears Chinese new year, most of the people will cash out to buy something or to prepare the celebration, and since China is a big player in crypto I think there will be a slight down movement

[leland orser]

I hate China. How big are they in the cryptocurrency market? Why every time there is bad news for them, the whole cryptocurrency market is going to have a big drop, which is incredible.

[Snaic]

Apparently, the Chinese New Year now also has some influence on the fact that bitcoin so low now fell in price. However, I do not think that such influence is too strong. Now many signs affect bitcoin in the complex. And first of all I think that this is greatly influenced by the too long non-elimination of the defects of bitcoin - slow transactions and high commission fees that make it impossible to use it as a payment facility.

[wodebutterfly]

The “Chinese new year” thing may be reasonable before but not this time. To me, the crash is mainly a result of the regulation policies in some major bitcoin trading countries, first it is China, then South Korea.