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Author Topic: Does Chinese New Year Affect the Market?!  (Read 528 times)
pabpete
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February 17, 2018, 02:17:34 PM
 #61

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.
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Masy scurity
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February 17, 2018, 02:21:24 PM
 #62

For me is not affected because I see their markets all coin before the Chinese new year and Chinese new year still was running as usual price of all markets is still not stable the ups and downs of prices.

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February 17, 2018, 02:22:39 PM
 #63

Holidays affect market before holidays not on holidays, because people withdraw money to spent it on holidays, not after Smiley
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February 17, 2018, 02:49:46 PM
 #64

No significant effect as we can all see. Events like this may or may not affect the market. We really don't know. I still think that February is too early for bitcoin to rise. It is still in the correction stage. There will still be lots of happenings that will affect the market.

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February 17, 2018, 02:52:05 PM
 #65

Yes, it sure does. Most money in crypto is from chinese investors and they go the fiat way during chinese new year which brings the price of crypto down. Its just a momentary phase and nothing one should be concerned about.

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February 17, 2018, 03:21:11 PM
 #66

To some extent, the Chinese New Year, which is celebrated on February 16, has to do with the depreciation of the crypto currency. However, this, in all likelihood, is largely a seasonal decrease in its price. This year, a sharp decrease in the bitcoin rate was due to its sharp December increase, the presence of shortcomings in bitcoin due to its insufficient scalability, negative world news about the crypto currency, and to a large extent false. Unsurprisingly, after the flow of these negative news ceased, bitcoin slowly began to rise in price.

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February 17, 2018, 03:27:56 PM
 #67

I am also very curious about this problem, when all people think Chinese New Year Chinese people will cash at that time, so instead of rise in the price of the bitcoin, it makes me very don't understand, what it is because. Huh

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February 17, 2018, 03:39:12 PM
 #68

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
Some people consider holiday seasons as a contributor for bitcoin and altcoin value.  In broader sense, investors attitude toward seasons might be a factor but logically do not barely lies on it.  The deflation of bitcoin value for the first month of January is due to the correction of price due to very high price bitcoin reach on the early week of December plus the bad rumors, news and speculations regarding bitcoin affect bitcoin value on the preceding days.  Last Chinese New Year, we experienced a bit increase in bitcoin value because bitcoin started to gain trust again from its investors because negative news and speculations regarding cryptocurrency stops. 
Xanxus024
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February 17, 2018, 04:12:25 PM
 #69

We all know that Chinese community has a big impact in crypto world but I think it not affect the market at all because there are more reason why the other crypto become low,like bitcoin drops because some article said that bitcoin will be dead so therefore the other investor become panic and they sell their coin that's why the demand become low.
Chanock
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February 17, 2018, 04:19:03 PM
 #70

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


Maybe, because some people considered holidays season as a contributor in altcoin and bitcoin. Specially the Chinese community that have a big impact of the movement value of crypto community. For me there no something special for Chinese new year that can affect the value of cryptos.
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February 17, 2018, 04:19:20 PM
 #71

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.
I think I also agree with you, many people who do hold during holidays, especially in south korea and china. both are countries with high trader intensity
mmo_online_1981
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February 17, 2018, 04:20:44 PM
 #72

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
Yes! I think so! Because many member from China join to trading and now is China Holidays!
i thinks, all coin will grown up after next month!
Thanks
Iyanu14
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February 17, 2018, 04:39:12 PM
 #73

No, there are a lot of force moving crypto market beyond Chinese new year. The media most especially is the number one force moving the market whenever there is good news the price moon and when there is a bad news the price drops.
sentinus
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February 17, 2018, 04:42:27 PM
 #74

Many people said the reason of falling is chinese new year in this forum. I think they were right. It increases day by day

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February 17, 2018, 04:56:32 PM
 #75

I think yes instead of negative its positive, I thought it will go down the price of bitcoin because of chinese new year but no, bitcoin increase maybe they don't want to withdraw yet.    

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February 17, 2018, 04:57:46 PM
 #76

get ready for prise jump over 14000 usd .
if we can close 1 week over 14000 usd than it will be a nice supportline for this year

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February 17, 2018, 04:59:44 PM
 #77

Maybe Chinese New Year really affect the market since lately after the new year finished the bitcoin's price is rising, I think there are new investors  buying bitcoins coming from chinese people. Still there are many more aspect that affect the bitcoin's price so who could just a assume that chinese new year is one of them.
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February 17, 2018, 05:01:49 PM
 #78

Now we wait for 12k breaking. After that we can look further by results - success or no and how. If bullish trend that means china's traders are smart and nothing prevents them to trade. Now - simply wait
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February 17, 2018, 05:11:55 PM
 #79

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

yes for me Chinese new year has a big effect at market price  because, In Chinese New Year, people make a lot of purchases in the lead-up, and then over New Year itself they stop spending. So a lot of the spending happens in the month before New Year. In other words, Chinese people were cashing in their bitcoin gains to pay for the holiday excesses. There’s a lot of Chinese players in the cryptocurrency space. At Chinese New Year, some people are selling off to buy what they need to buy for the holiday. As an investor,this is a  good opportunity to buy cryptocurrencies.
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February 17, 2018, 05:31:31 PM
 #80

I think the effect of Chinese New Year is not due to the chinese traders cashing out to buy gifts. I think the belief of chinese crypto traders is that they do not want to get into large financial investments just before chinese new year, as they have a long period of rest and celebration. Hence they divest out of big investments especially the risky ones.

After the new year, then the Chinese will get back to the markets...Chinese New Year is an important event in China and families meet for reunion and share about their good news and brag about themselves over dinner and drinks. No one wants to go into Chinese new year being broke or without job... so usually chinese dun quit their jobs before Chinese new year and they also dun enter into risky investments just before the celebration.

If everyone noticed, the crypto markets started to recover after thursday night.. that was the most important Reunion Dinner where families meet up. After that dinner filled with bragging and sharing.. the chinese traders will be able to start trading and taking risk again.

This is just my speculations based on my observations over the years Smiley

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