Does Chinese New Year Affect the Market?!

[Deancooel1]

chinese feast may affect the rise of bitcoin prices, because the holiday is a happy day, many giveaway is implemented, many also discounted prices

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[IloveDigibyte]

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

I think Chinese people affect the market wit their actions. I don't think they are doing too much investing around Chinese New Year and their absence is what make the big difference.

[anhlandibo12]

The Chinese New Year affecting the cryptocurrencies market is undeniable. Currently, China has the most substantial number of cryptos owners in the world along with the Binance exchange floor. It can be clearly seen that now after the Chinese New Year and the market is showing signs of recovery when Market Cap has increased by 10% compared to last week.

[Yuuto]

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

So the theory is that before the Chinese new year people sell their BTC because they need cash. And that sort of crashes the market a little, and the rest of the people just follow suit and everyone dumps in January historically.

I think that it's just hype, but hey, it's giving us a chance to recover from the terrible losses in January.

It does affect the market, just dunno how it does. Nobody knows. But i think it's all psychology.

[Pa1n]

No one cares chinese new year i think . Lets says it effected, its good for us. Otherwise, it doesnt matter. So, no efficient

[mornabo]

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

I think Chinese people affect the market wit their actions. I don't think they are doing too much investing around Chinese New Year and their absence is what make the big difference.

I don't really understand the direct influence between Chinese new year with bitcoin market? Chinese new year is over and currently bitcoin market is in the recover stage, prices continue to rise, before many people predict prices will go down because of chinese new year? but that did not happen at all and I can speculate that Chinese New Year does not have a significant effect to bitcoin market,

[Man21]

It can, but this time around it has not had a huge effect. More often than not the reason for price movement is anticipation of an event rather than the event itself, and if everyone is expecting a certain effect at a certain time, then it is already priced in.

Why you said that is not huge effect? Did not you notice the huge correction this time?
I dont know what make this correction but i know one of the reason is chinese new year and also other reason combine.

[rhayot]

There’s a chance that chinese new year affects the prices in the market. It’s just like last year when the month of october to december hits the demand of the value of the altcoins. Holidays really affect the prices of the altcoins and it’s a good thing for us, so we can have a good profit when we invest.

[SW33T]

I think it does in some sense because of Chinese people makes a lot of purchases. It is undeniably a fact that when the market plummets through January, in February it will rise up again. The Bitcoin price fell as low as $6,200 as many proclaimed the death of Bitcoin for the umpteenth time. However, Bitcoin is back at $10,000 and keeps climbing as the Chinese New Year approaches.

[TheCryptoChaser]

I might affect in someway cause as you can see the market price is going up. I don't really know what is going to be happen in upcoming weeks. Wait for the March !

[kopijos]

very influential, because we know if china is a big cryptocurrency market in the world so with chinese new year with sell or buy i think will affect the market and result in up and down market price.

[hotcoin1234]

I agree with you my answer is yes also. From my perception is that CNY most people need to buy many different things range from food to decorations, and that means they need money in order to by those items. One they might not have the money to go invest into the market at this moment, secondly they need to withdraw out theoir btc or eth to buy all this things.

[cepot9]

indeed there are certain days of influence, but sometimes not necessarily and imlek too this time does not contain an amazing increase or decrease

[DRVX]

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

I haven’t in mind any idea why and how Chinese New Year can be influential on cryptocurrency market. But seeming the tabs  and graphs I think that some connection is exist. At last time many coins started to rise.

[kinki32]

Not goverments, not Chinese new year, not another mystical things about dropped price. Thats only correction and manipulations to price.

[SW_Lee]

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

I haven’t in mind any idea why and how Chinese New Year can be influential on cryptocurrency market. But seeming the tabs  and graphs I think that some connection is exist. At last time many coins started to rise.

Yes, but as many ppl expected, I thought Chinese was going to sell their coins for the annual event, which means the price had to decrease again. However, it is increasing somehow! so I really wondered how this happened and could be explained.

[denulh]

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

every year the  closer we get to chinese new year eve, the higher the chance there will a strong drop of all coins on the market, this drop happens every year when we close to Chinese new year, because of many investors wanted to sell their coin into money to use in their hollidays, that is why the price drop in this month of every year.

[flashmark]

As you already saw, there is an affect. In past few years market dropped before Chinese new year and then recovered strongly after the new year. I think same happening this year as well.

[RomanPetrush]

Yeap, when thousands chinese miners sell their's Bitcoins, it affects to the market for sure. Probably that's the only reason why BTC is not the moon right now.

[lil_jb]

Does end of year profits for the Chinese mean anything.