Chinese New Year Influence Bitcoin?

[jollyreti]

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

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[TheySeeMeHodlingTheyHatin]

Do you value news or technology and utility ?

[jrrsparkles]

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

Agree that it is also one of the factor that causing price falling like what happened at the Christmas time but now there are lot of factors included at the same time which resulted in mass price fall.

But now I don't have any idea when the price will recover,after the Chinese new year?

[Virman01]

it seems that the Chinese New Year does not affect the bitcoin price, just look at other holidays such as christmas and eid al fitr and so on, all not affecting bitcoin prices.

[jollyreti]

Do you value news or technology and utility ?

I value technology, but it does not mean that market do the same. News play the biggest role in crypto currency life, one day can just literally kill a particular coin. An example would be Chinese new regulations or something like that.

[kelsiivo]

How much is required to purchase gifts for family ? I do not think one has to take out Bitcoin investments for such gifts. Funny excuses people give for decrease in price.

[Imfinnabeon]

While it is possible there will never be a single culprit when it comes to these things. It is effecting the price of Bitcoin for sure but we do also have to realize Bitcoin made a huge rise in December and in January it wasn't going to go another 300% higher. What is happening now makes sense, I would imagine though sometime in Spring this bloodbath will be over.

[Mister1k]

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

Every year christmas and chinese new year doing some changes in the marketcap. This happening since the 2013 so you do not need to worry that more dips in the market. Everything will recover a week of time. If you watch the price changes in the complete one year. You can find where I am standing on this point.

BTC rate make the more panic to all their investors but everyone here do not understand the crypto currency and leaving out from investment. If you are in you will one the millionaire in crypto platform.

[jollyreti]

How much is required to purchase gifts for family ? I do not think one has to take out Bitcoin investments for such gifts. Funny excuses people give for decrease in price.

So you think that Christmas market is not big enough ? lul  Perhaps you should also pay attention to the population of China and make new calculations yourself before writing any reply.

[clubchain]

I think there may be a certain degree of impact because investors in China are actually quite numerous. Although China is still banned, and the Chinese New Year likes to buy a lot of things and needs cash, most people probably sell a bit of bitcoin Getting money can affect the bitcoin market.

[gua86402]

The Chinese New Year has a limited impact on the digital currency market!

The main impact is India, South Korea's policy influence!

The market started to fall in January, and the Chinese New Year is still one month away!

[Obirum]

Chinese are mining bitcoin largest in the world

[MARGA RYANSONEO]

Maybe Bitcoin has little effect on national day, like Lunar New Year because I think bitcoin keeps rising, so it does not matter

[Veterock]

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

Strange question))Why?because this is the main!! reason of influence Bitcoin) Every year,during Chinese New Year even Fiat money falls, not only bitcoins))

[BlackRacerX]

I am sure many events recently influenced bitcoin: news about tether, incoming futures date, regulations of several countries, but do you think that Chinese New Year could also influence it at some point? Perhaps many Chinese are withdrawing now in order to purchase gifts for their family member and that could influence bitcoin rate.

It won't. It may affect the price a little bit, but I don't think it will deviate the price so bad that it will cause another panic sell. Even the christmas season didn't affect the pricing so bad. Just a little spike and a  movement by a small margin. Chinese new year won't affect the price of bitcoins that much.

[HasHe]

Yes as early years,Chinese new year too would have an impact on bitcoin price.But what's the difference is that in previous years only Chinese new year had the most impact on its price but this time its an additional factor.Its because bitcoin is now universal and not dependent only on China as it was on early days.

[Suharti12]

Now a lot of bad news that tells me about bitcoin that makes bitcoin prices go down, and also I think the Chinese New Year also greatly influences the price of bitcoin because it is true that what you are talking about is that many Chinese who withdraw to the needs of the Chinese New Year be patient waiting for bitcoin to rise after the lunar, i'm sure it will happen.

[felixesteban]

Do you guys know when new Chinese year ends. If I am not mistaken it'll take 40 days. It's too long if it is. In my opinion after new year we can see a good movement. We are talking about a really big country so that it'll definitely influence positively.

[Doge dealer]

there saying that the Chinese which are major players in the market are pulling funds from this market to buy lots of gifts and to make preparation as there new year approaches this could definitely be among the causal factors that contributed to the decline i suppose next year we will be able to say with some certainty as to the real influence if any the Chinese new year has on bitcoins .

[mx667]

Do you guys know when new Chinese year ends. If I am not mistaken it'll take 40 days. It's too long if it is. In my opinion after new year we can see a good movement. We are talking about a really big country so that it'll definitely influence positively.

I do not really know about that. But I think it will quite effect the country of China. I do not think this event is too influential for the world, but who knows someone is using Bitcoin for the transaction tool. If on the day of the feast there are people who give angpao or some money to others by using Bitcoin, maybe this will give some influence on Bitcoin. All I know, usually the Chinese will give some money to their relatives and some cake-shaped food to many people. I think there are also people who distribute their money to the needy and the poor. I know all of that because I am half Chinese. My mom is Chinese and my dad is Indonesian. Anyway, I wish you have a good luck and God bless you in this Chinese new year.