Is bitcoin fall because of Chinese Spring Festival?

[RoftheN]

Oh really? Didn't have a clue about this. Now after reading about it, I think this may have affected BTC but not sure.

[jonruhoax]

From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD?

yes, almost every year in months 1 and 2 bitcoin always fall. from this bitcoin history record is common. I agree, china has no effect for now on bitcoin. but that we can not make a benchmark, because there are many chinese people involved in bitcoin today even though the country has been banned. in the world, the Chinese always exist and have become citizens. I believe any impact that occurs that causes the falling bitcoin will not last long. bitcoin will be able to return to normal

[airdrophunter]

I don't think that the coming Chinese New Year has something to do with the recent fall down of bitcoin's price that greatly affect the price of alt coins too. It's just a correction that needs to be done to make bitcoin even more powerful.

[KUMAR6]

i think that if indeed, it was very little effect and you cant blame it all on china

[alex_kir]

There is a lot to do with bitcoin with China, despite the fact that China is constantly trying to block Bitcoin, for some reason, but in any case I do not exclude the possibility that the drop of bitcoin is now connected with China

[bitcad4u]

From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD?

Still now many of the transaction are from China.Many chinese traders are still live in this crypto world.Out of 10 transaction 3 transaction from China.This is the reason for the price fluctuation during January and february.
This time also their will be fluctuation in the price of bitcoin.If you need of FIAT convert before this new year.

[p i e c e]

From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD?

I do not think that only China has a significant impact on the price drop. Every year many bad news appear and many people start to sell coins in a panic thereby reducing their price.

[picaszo]

I think it will have little effect. a week before chinese new year i guess the price goes down,but it turns out the opposite. so it seems the market will be fine

[bizonglimang]

From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD?

I don't think so.It may have some influence but not so influencial like this.

[Leyss]

The Chinese New Year definitely affects the depreciation of bitcoins and all of the Crypto currency, however how hard, it's hard to say. In January and February this year, there was a strong organized influence of outsiders with the aim of the greatest depreciation of bitcoin. Now this influence is no longer manifested and the course of bitcoin began to increase. So there were several factors to lower the bitcoin rate.

[Moblie_Legend]

chances are it can. but if I think that causes the bitcoin value drops because there are many issues regarding the name / bitcoin. because bitcoin is very sensitive to the issue of issues that circulate in social media / sosmed