Does Chinese New Year Affect the Market?!

[BettingTips]

Yes of course. Chinese new year is the most important holiday in a year for Chinese people, it's the time people stop working and cryptocurrency trader and investor are not exceptions. Beside China is the biggest country in the world related to cryptocurrency and it's also one out of the biggest cryptocurrency market all over the world so when all the trader and investor in this country stop working for a week, it'll affect a lot the the market and it's also the main reason why few rencent weeks the whole market painted in red.

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[Zachwolf]

Chinese New Year does not affect the crypto market. I think that the crypto market fell not because of this holiday, but because the correction should have happened long ago.

Double opinion. One part of me agrees, the other part does not agree. Most likely, both factors worked. And the new year in China has made its own contribution, and the correction is the same.

Even though China is one of the country that not accepting bitcoin/crypto currencies. I think Chinese New Year will not affect the market because they only celebrate there yearly tradition as a chinese people.

[nunzio2012]

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

I think - no. Why you think otherwise? Only based on the hype around or?

People are overestimating dates, events, etc. Holidays like any others. You could expect a lower trading volume and that's all.

[globalcitizen]

I don't believe it is the Chinese new year celebration alone that is pushing the market upwards. It may have contributed but they are several other market forces that is dictating the market movement.

[sp01_cardo]

Theres nothing to do about chinese new year to make the price increase in the market. Maybe it is only a coincidence that many trade or bought some coins during that day.

[xrpdavid]

I honestly don't know. Many people are telling me it is but I have my doubts. I don't think many people will suddenly start investing because some 3-4 week holiday is over. However I'm not too familiar with Chinese culture so it might. Just remember there's a lot more factors and even if it does affect the market, other things could affect it the opposite way around the same time.

[vincentong17]

It may or may not, It's always in transition period, Wait for another bull run buy and hold some coins. Right now the market is going healthy and it's going back to it's correction. Just hold your coins and don't sell anything.

[MISS_nSTASSY]

When the price is moving up and down everybody tries to find rational explanation of what is happening at the moment. And in that case you should remember that whales have their own goals and explanations. I think it affwcts on market, but not that much as people are talking

[allcryptominer]

So right now its the second day celebrating right? No major price fall so far, btc still over $10k. And as I understand its only this weekend right?

[RAmondragon]

It might be just coincidence. If bitcoin drops or not, its just because its designed that way.

[Vaflia]

I believe that the Chinese new year has an impact on the market, but now even that is not enough to drop the price.

[sserge009]

It seems that everyone is trying to convince that there is impact. Although it is not clear in what exactly it can be and whether it should be taken into account at all. anyway, happy new year for everyone!

[SW_Lee]

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

Somehow it can affect the market,because if most of these big chinese players cashout their money simultaneously it will result to a market dump.Most of these people will surely cashing out their money because need some cash to be spent in their holidays if you asked me it is like what happened from the previous christmas and new year.

That is true ! Thx for sharing your opinion

[o.ogurlu]

yes it affected because this new year holiday very long. and china have %50 bitcoin market. so 20-25 day not doing any operation about crypto

[feny.blackpink]

i think it is not only the factor that affecting bitcoin price.
there are some other factors too such as uncertain regulations that make peoples sell their bitcoin.

[mpufatzis]

Do you think that the Christian new year affects the market price? Or the Muslim new year?
Which do you think affects more the Chinese, the Christian or the Muslim?
I believe that now, you have noticed that all these dates are just simple days as any other of the year and none of them influences more than the other.
The only impact that can have on you is that you will probably not trade this day because you will celebrate with your Family.

[Boomber]

In my opinion at this time bitcoin began to rise because before the new year many people who sell their coins because it takes money to celebrate the new year and holidays.
This time the period has passed so people start to maintain their coin so the price goes up again.

[virtualhero]

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

It slightly affect the market but the real reason why the market is rising is because of supply and demand. There are many people now that are aware of Cryptocurrency and they are the one who moves the market to rise.

[airdrophunter]

Chinese New Year has arrived and i can't see any significant change of bitcoin's market price that is why the cryptomarket is still stable before and after this big Chinese event.

[pabpete]

i think it is not only the factor that affecting bitcoin price.
there are some other factors too such as uncertain regulations that make peoples sell their bitcoin.

The Chinese New Year could have a significant effect on cryptocurrency markets.Chinese and South Korean bitcoin investors frequently exchange their crypto holdings for fiat currency during the holiday.