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Author Topic: Chinese New Year Influence Bitcoin?  (Read 322 times)
Eureka_07
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February 13, 2018, 12:24:03 AM
 #21

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.

I think it will have a little impact on bitcoin price in the market because it is holiday and for sure people who invests in bitcoin will surely hold their bitcoins not until the day of the chinese new year. Maybe the price of bitcoin will dump or pump because Chinese are smart and wise when it comes to handling money. They know how to play it in the market.

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February 13, 2018, 12:26:13 AM
 #22

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 .

China banned bitcoin in the early part of last year. As in closed down all the exchanges and told people they'd be jailed if they are caught trading bitcoin.

The Chinese were never major players, their volume was faked. And after they banned bitcoin, it soared, proving that the demand was not in China, it was elsewhere.

I don't know why people keep mentioning China as an influence - I guess they're addicted to China FUD stories.

 
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February 13, 2018, 12:37:17 AM
 #23

there is a possibility it happens, chinese new year can affect bitcoin price. in addition to bitcoin users in the country of China is very much another reason is because the Chinese state plays an important role in the development of bitcoin prices
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February 13, 2018, 12:47:56 AM
 #24

there is a possibility it happens, chinese new year can affect bitcoin price. in addition to bitcoin users in the country of China is very much another reason is because the Chinese state plays an important role in the development of bitcoin prices
I don’t think Chinese new year affects the value lf bitcoin. Just like another ordinary day or month, bitcoin is very unpredictable and we don’t have enough basis to know why its value have fallen or risen. Also, China banned bitcoin, so the demand of bitcoin in it is low.

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February 13, 2018, 12:50:32 AM
 #25

There is a possibility that bitcoin will recover by this upcoming chinese new year, maybe some chinese millionaires will try to invest in bitcoin too now. Some players might be pulling funds for bitcoin. This would be a great push for the bitcoin to rise back up again.

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February 13, 2018, 01:30:40 AM
 #26

In my opinion Lunar chinese new year really has an influence on the price of bitcoin in the market since, as we all know that Chinese are preparing enough when they have celebration what more in their new year so some of the investors pull out btc because they need money to prepare and buy goods for new year,. Also i can say that after the Lunar chinese newyear there will be new investors in crypto.
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February 13, 2018, 01:44:24 AM
 #27

hopefully with the new year Imlek can push the price of bitcoin and back again so that bitcoin popularity increase again
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February 13, 2018, 01:51:06 AM
 #28

In my opinion no event will ever influence bitcoin, what was happening in bitcoin price is a matter of supply and demand fluctuations, bitcoin is becoming more popular around the world and I'm sure a lot of people are now looking into bitcoin investment after seeing the trend in fluctuations bitcoin made in past years, and since we know there is a limitation in bitcoin supply adjustment in price must take place. It has nothing to do with events or current status of some countries.

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February 13, 2018, 01:56:32 AM
 #29

In my opinion no event will ever influence bitcoin, what was happening in bitcoin price is a matter of supply and demand fluctuations, bitcoin is becoming more popular around the world and I'm sure a lot of people are now looking into bitcoin investment after seeing the trend in fluctuations bitcoin made in past years, and since we know there is a limitation in bitcoin supply adjustment in price must take place. It has nothing to do with events or current status of some countries.

I think events have proven to have very real impacts on the price of bitcoin. Markets are impacted by the decisions and thoughts of market participants, the key example of this is christmas, every year bitcoin seems to sell off.

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February 13, 2018, 01:56:58 AM
 #30

Chinese New Year is the same as Christmas and New Year! It's a very important festival!

But as early as a month ago, the digital money market was depressed, and most Chinese would not quit if they lost money!

Now they are waiting for the transaction in March, and I think the market will recover in March!
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February 13, 2018, 01:59:53 AM
 #31

I think that could be after-Xmas general economic decrease (well maybe mixed with pre- Chinese NY) which influenced cryptocurrency.
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February 13, 2018, 02:03:56 AM
 #32

I think when feng shui will be favorable to Bitcoin we might see a surge in the prices. I read an article stating this "For speculative investments, he says, “The value of Bitcoin will likely rise further, however, there will be wild swings in 2018.”

Read more: http://usa.inquirer.net/8905/astrologers-2018-dollar-drops-robots-sex-rise-bitcoin-swings-etc#ixzz56wwRmq41
timikulit
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February 13, 2018, 02:10:27 AM
 #33

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 is a true that Chinese new year influences bitcoin price. just like Christmas and new year holidays. many people are withdrawing bitcoin and convert it to fiat for their holiday expenses such as gift, tour , etc..

We must see a price recovery on march. ann we are all waiting for that.

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February 13, 2018, 02:23:02 AM
 #34

it may be because most of the world's bitcoin power trading and mining is concentrated in China.
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February 13, 2018, 02:25:41 AM
 #35

yes it does... price will go up after 16th
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February 13, 2018, 03:49:43 AM
 #36

I guess, some people are crazy when theirs an event coming but I don't believe in that kind of way.

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February 13, 2018, 04:01:27 AM
 #37

not only chinese new year, but i think the bitcoin price fall because fud that spreaded.
that makes bitcoin holders sell their bitcoins, so the price fall.

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February 13, 2018, 04:44:35 AM
 #38

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.

True, china plays a big part in the world's economy and so does in the cryptocurrency they even expected btc moon to happen during chinese new year period which we may see bitcoin to rise again in its market. I think these events greatly affects the market regardless of country.

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February 13, 2018, 05:04:02 AM
 #39

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.


I dont know what will happen after chinese new year. I heared some of my friends talking about bitcoin that it will rise after chinese new year. How i wish it is true.

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February 13, 2018, 05:05:32 AM
 #40

Thinking of the effects of new year on the price of bitcoin (not just bitcoin but other stocks as well) the price tends to go down then increase again after the new year. for both the regular new year and the Chinese new year. We cant really be sure how bitcoin price will behave considering the overall news and the banning and the regulation impending.

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