Here comes the CHINESE NEW YEAR!

[Kokoy]

So, what would be the effect of Chinese New Year in the market on Feb 16? Any thoughts? Is it a big deal?

Edited

I expected so much this Chinese New Year cause most of the salary that I have gained says that the distribution will be after Chinese New Year, and now look what happened I just put myself into expectation and they demanded for another weeks, I have been waiting this since last year and now , still waiting for it to come.

[Xenrise]

did you mean 16 feb ? i think it will affect so much, every year since 2014 chinese lunar new year always affect the market, march will be a bullish month

I also think that March will begin a slow growth of bitcoin. The Chinese will begin to return their money to the market. By the way, today the dogecoin started to grow in price. Not that the Chinese decided to buy it for good luck. It is symbolic for this year to buy a little doge 

LOL, nice symmetrical event. I believe that bitcoin after the Chinese New Year will be bullish on the month after that. And the month after the Chinese New year is March. Bitcoin will have its bull run on March.

[Pan Troglodytes]

Yesterday, the Chinese new year came, and the cryptocurrency market began to improve significantly (turn green) . Perhaps the Chinese give gifts to each other with bitcoin and altcoins ?))

Yes it was what I predicted too (read my post above). I don't know mechanisms behind it and I don't know how to explain it, but it just happens every year, this year too

[spiker777]

I always see people claiming that following Chinese new year there is a surge in bitcoin price. Why is that exactly? Do people think that just because its Chinese new year that people don't have time to trade or invest? Or that people suddenly have more money to invest. I see that in the past BTC tends to increase in value around February, but see no reason why it should be attributed to Chinese new year.

[Pan Troglodytes]

I always see people claiming that following Chinese new year there is a surge in bitcoin price. Why is that exactly? Do people think that just because its Chinese new year that people don't have time to trade or invest? Or that people suddenly have more money to invest. I see that in the past BTC tends to increase in value around February, but see no reason why it should be attributed to Chinese new year.

it is the same as with Catolic Christmas and end of the year, traditionaly it is a great time for shares and bonds (it is I think related to some large founds realizing their profit) and since a few years it is great for Bitcoin too, but I doubt anybody has a good explanation, you know, Bitcoin is around for 9 years only and it has been seriously traded for how long - 4? 5? years. I think anything we may hear is just speculation. But the phenomenon has definitely been there all those years and this year too

[ivrynx]

i think the Chinese new had a great impact on bitcoin's value today, since we can see the market going stable at 10k usd level, this might be a sign that more Chinese investors are returning since they want to have a prosperous new year ahead of them.I think we can also based it on the historical trend, that before any major occasions the value would rise weeks before then goes down a few days before and after the celebration, then comes to be stable afterwards, ten we have to wait again for another major occasion that would take place, I agree that it is somehow similar to what had happened during the holidays, but this time the percentage of the gains and loss is not high, compared last December. there are still FUDs that we see on the news but it doesn't seems to affect the value that much, since what I see is most of the investors that are HODLing today have strong hands and probably had already learned some valuable lessons in the past,. there are also those who had waited for this moment, that the price of bitcoin to go down and will probably grab mow the chance to invest, we can also see some altcoins being affected, knowing that the price of bitcoin has gone down people are taking profit from altcoins and converting them to bitcoins, thus make the value increase. also at this time of the year, the value might rise again since half of the world will be enjoying summer breaks and they will need to gain profit and then the cycle will just go on, until we reach another all time high.

[shata]

So, what would be the effect of Chinese New Year in the market on Feb 16? Any thoughts? Is it a big deal?

Edited

Maybe. I think yes, because China is one of the countries that really supports Bitcoin. Maybe we can assume that it will decrease its price  before and after Chinese New year. Chinese are cashouting their bitcoins in able for them to get money and they will use it in their foods. They will buy many foods and many things that they want and it will cause the Bitcoin’s price to decrease.

[kimochidesh]

Professional traders are expecting a slow growth pace until Feb16. ie Chinese new year. China has a very significant role in making crypto-miners and other hardware instruments. China has a culture of celebrating their New year with great enthusiasm and Chinese people spent a lot on this festival, therefore china's crypto market remains stagnant these days and hence slowed the crypto growth at world level.

[Nebell]

Professional traders are expecting a slow growth pace until Feb16. ie Chinese new year. China has a very significant role in making crypto-miners and other hardware instruments. China has a culture of celebrating their New year with great enthusiasm and Chinese people spent a lot on this festival, therefore china's crypto market remains stagnant these days and hence slowed the crypto growth at world level.

You do realize that it's 18th today and China has gone bananas on crypto and scared its citizens from buying and selling?

What we're seeing now is total opposite from the last year. Instead of dipping before and during the Chinese New Year, we're seeing some nice gains. Because most small time Chinese investors are not in the game anymore. And those who are in the game are rich people who keep their crypto in HK or overseas and have no need to sell because they already have enough money.
Bitcoin bull run has already begun.

[Fire316]

     Chinese new year has already finished. Before it,others said bitcoin price will decrease but it is opposite to what they say because bitcoin now are continuesly increasing after a big drop.

[rehydrogenated]

A lot of people have been pointing to the chinese new year as the reason bitcoin crashed. I never really believed that the crash was caused by that factor... Yes it makes sense people want to cash out a bit and maybe buy some things, but the fall was a massive technical correction first and foremost. It is fun that the new year is coming and I am very excited about The Year of the Dog. I think it will be a huge year for the world economy and a very positive one for all markets, especially bitcoin.

The Chinese government has already cracked down on crypto, so they aren't as big of players as last year.

[Baimovic]

I see the Chinese New Year this year will not affect the value of bitcoin, altcoin and market, but it may be slightly decreased.

after that will be much support from asia in february and march, so bitcon price and market will be stable again. and also bitcoin will get support from USA, Canada and others.

[Ris88]

So, what would be the effect of Chinese New Year in the market on Feb 16? Any thoughts? Is it a big deal?

Edited

Cold China will issue a new breakthrough, certainly in all areas of ICO or also share gift gifts, that we know right now, China wants to raise bitcoin in their country, even they are not tangung tangung to build a bigger mining this year .. .

[keycellko]

The chinese are one of the big investors of bitcoin. It has been a trend every year hat once the chinese new year is approaching the bitcoin price always decreases because these investors would cash out their investments so they will have money to use for the new year. After that, bitcoin will zoom high coz they will put back their investments. So lets prepare for bitcoins recovery.

[rappydoo]

every chinese new year most markets in the world are affectef, expected to be bearish. simply because chinese knvestors halts any kind of business or money outflow during these season.something to do with their beliefs.

[Indrawan77]

China is one of the biggest crypto users in the  world, the Chinese New Year is one of the biggest event for them, and in that time they tend to celebrate and spending money, so I think some of them will cashed out crypto and maybe give crypto as gift, so I think it's affecting the transaction volume of the  crypto currencies

[gua86402]

Recent market information feedback, Chinese New Year seems to have no impact on the BTC market!

The BTC continues to grow during the Chinese New Year, not "red".

I want to finish the New Year in China, people return to work, BTC will continue to rise!

[Jashhh]

Recent market information feedback, Chinese New Year seems to have no impact on the BTC market!

The BTC continues to grow during the Chinese New Year, not "red".

Dude, the drop is supposed to be BEFORE the Chinese new year actually happens. As it was indeed. As the Chinese new year approached, markets rised. Or could've started right after, doesn't really matter. If you ask me, both Christmas and Chinese new year every year seem to have an impact.

And usually february/march starts the rise towards the end of the year. Hopefully again this year.

[ghost07]

So, what would be the effect of Chinese New Year in the market on Feb 16? Any thoughts? Is it a big deal?

Edited

it also affect the price of bitcoin i think bitcoin pumps almost 1k$ in that day thats good for us because we earn some profit because of chinese new year. now bitcoin continues in pumping hope this will be the biggest comeback for bitcoin road to 50k i think.

[jamiebear]

I firmly believe that chinese new year will help the market rise. Investors especially the asians will put their money back in the market and hopefully March will be a bullish month for us.