Will Chinese New Year boost crypto market cap?

[timerland]

With Chinese New Year coming up on 2/16 what do you think will happen will the market cap get an influx of new money from China or not? I'm thinking we will and hoping it will boost prices for all coins but of course, this is just speculation, what do you think?

It has had its affect mostly one day before the Chinese New year. And we also saw bitcoin go up to more than $10000 today.

This is a very good example of how market perception can change a lot over a short period of time without anything changing. All that has happened was that we had a stable patch and bullish sentiment started growing.

Don't worry too much about government intervention, because BTC is not reliant on governments being behind it. When prices go down because of government controls, generally you know it's a good time to buy some.

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[JL421]

It looks like it is but if you see the graphs this rise hasn't been from china it is just a rumour that people thought chinese new year would increase the price so they bought but eventually it got pumped without any chinese involved in it
What I'm trying to say is this rise to 10000$ isn't because of chinese investors

[haroldtee]

I think chinese new year cannot boost the market. But if China will let their people invest or trade cryptocurrency this will be a big impact in the cryptocurrency market.

You really think since China has been laying some strong hold on cryptocurrency market, the chinese people have not been trading? That makes me laugh. These guys are smarter than you can imagine and I do not expect the government policies to affect whatever they want to do. Moreover, why do you think overnight, JPY became the most traded currency pair with bitcoin?

Personally, I do not know if the new year will have a huge effect, but still I will not doubt anything that cannot be impossible knowing they have had some impact over the years, and even though little now, an impact is still an impact.

[Apened]

With Chinese New Year coming up on 2/16 what do you think will happen will the market cap get an influx of new money from China or not? I'm thinking we will and hoping it will boost prices for all coins but of course, this is just speculation, what do you think?

It goes up and not go accordingly with my prediction that it will dump and going up after chinese new year. Chinese was stop from producing now materials many of them before chinese new year and will go back again after which a good sign with bitcoins as the money is coming to it. Like before negative news all coming from their country.

[wuvdoll]

What is it with the Chinese New Year and Bitcoin's recovery? Why do some spammers, I mean, people believe the Chinese will suddenly pour all their money in Bitcoin on that day?

It does not make sense. Please explain what the Chinese culture is regarding investments and speculation when their "new year" comes.

Spammers? lol even a Legendary member agrees with me... "Historically January has been a month of declining prices only to recover and grow again after Chinese New Year. I expect the same to happen this time, especially with some of the recent good news like the positive notes on crypto in the US."

History repeats itself doesn't it? At the very least in the Chinese crypto economy the traders that took off will be back in the game, so on a micro level, it will go up if not greater on the Macro based on history.

Love not Hate will uplift and fulfill the prophecy of Nakamoto my friend.

Right, history repeat itself and even though people have been skeptical about the Chinese or basically those who the lunar holiday affects, to have major effect on the prices of bitcoin, one way or the other the highest pump has always come from there which was the reason coinmarketcap had to remove the exchanges from their platform anyway. I am not sure if after the new year, new funds will start popping in from here, but whatever is good for volume now is good for me.

Hopefully, we will get to see many massive boosting to happen this year. History always has a way of repeating itself, and if that ends up happening, then that would affirm another level of history repeating, and removing some people's doubt. I am optimistic that we will start seeing some volume kicking in now even with the situation of the market, so from here onward, we get to see where it leads.

[lopez cryptomania]

Good comments overall and kudos to you all who also remember that Chinese New Year does not only affect China but other nations nearby that have holidays during this same time, it's more than one nation.

[minthit]

Chinese new year is becoming a marker in bitcoin price action. Again, it occurs this year too. As long as people keep believing it's because of chinese new year, there will still be price action during that period.

[raven7886]

I think prices will boom again after the end of Chinese new year celebrations.
China is on of the biggest countries and have a big impact on the cryptocurrency market. Such phenomenon happens every year and we see the same pattern: prices drops then start to recover by the end of February, I hope the same will happen this year.

This has been true almost every year in the past and it will happen again this year, but for another reason. Not simply because Chinese New Year will be over, but because institutional investors waited for the dip and now they are satisfied with the relatively low price so they already started buying and the pump to 20 or even 30k will follow soon. And then another crash.

Yeah and that could just be pure coincidence. Like you said, we have institutional investors involved and I am sure they are already loading up right now and waiting for the change in trend of the market, which I believe will change anyway.

Nevertheless if we end up having some pretty good volume coming in after the china new year, based on the fact that they would want to start investing, then that also will be fine. One way or the other, we are all just hoping that we can start a new uptrend pretty soon.

[KorakPawon]

I think it will decrease, due to the demand in the market so that there is little inflation on the bitcoint itself

[katrimans]

What is it with the Chinese New Year and Bitcoin's recovery? Why do some spammers, I mean, people believe the Chinese will suddenly pour all their money in Bitcoin on that day?

It does not make sense. Please explain what the Chinese culture is regarding investments and speculation when their "new year" comes.

Spammers? lol even a Legendary member agrees with me... "Historically January has been a month of declining prices only to recover and grow again after Chinese New Year. I expect the same to happen this time, especially with some of the recent good news like the positive notes on crypto in the US."

History repeats itself doesn't it? At the very least in the Chinese crypto economy the traders that took off will be back in the game, so on a micro level, it will go up if not greater on the Macro based on history.

Love not Hate will uplift and fulfill the prophecy of Nakamoto my friend.

I hope so. A lot of people have been talking about this, and I think the feel on the market itself is making some impact. I am not really sure yet how this would end up, but if it does, good and fine, who would not want this anyway. Moreover, only time will tell.

Sure, we have had some major shit from this region which has totally been pissing people off when it comes to relating the movement of bitcoin with China, but who knows?