End of Chinese holiday... any effect on Bitcoin Price??

[Kakmakr]

Just put yourself in their shoes. You just spend a lot of money on expensive gifts and expensive holidays.

How long does it take for you to recover from this? Most people funded these gifts and holidays with debt, which is even worst. Last year a lot of people bought bitcoins with debt and some are still paying off that debt and cannot buy back in, before that debt is paid.

The ripple affect of these holidays take months to go back to normal. I predict that it could take up to 6 months, before we start seeing a real recovery. 

[Qartersa]

I have the same experience as last year. Although, may I add that based on my data which is two years old, when there are forthcoming events such as Christmas, New Year, both in Roman calendar and Chinese, prices spike in anticipation of such. But whenever the day itself has arrived, the price is at a halt and begins to go mainstream on the same level. That is why I can say that I have expected this rise but at the same time saw the mainstream level that Bitcoin would have to undergo. As of writing, Bitcoin decreased in value by -1.02% at $10,584.43 from its immediate rise to above $11,000 in anticipation of the Chinese New Year and a few hours after the CNY has passed.

[makngeerwork]

The market seems stagnant and maybe chinese new year not really affects the price but maybe this little growth is due to some certain scenarios came with bitcoins but maybe we can see the huge series of pump when the real season came on bitcoins since if we based on the market charts bitcoins mostly reach its New ETH on year ends and suddenly dump on january-february.

[vasrasus]

The market seems stagnant and maybe chinese new year not really affects the price but maybe this little growth is due to some certain scenarios came with bitcoins but maybe we can see the huge series of pump when the real season came on bitcoins since if we based on the market charts bitcoins mostly reach its New ETH on year ends and suddenly dump on january-february.

New ATH may occur by the last quarter of the year so keep holding till then, Chinese new year doesn't seems affect crypto now since most of them were not into crypto this much due to some banned exchanges.

[yonjitsu]

As you can see the market is bleeding again. I don't know if the Chinese New Year has something to do with the current dips of cryptocurrencies today. Hopefully this current dip won't last long anymore.

[PETES]

As you can see the market is bleeding again. I don't know if the Chinese New Year has something to do with the current dips of cryptocurrencies today. Hopefully this current dip won't last long anymore.

We can see the market to recovers by end of the month or first week of March after being in stagnant price like it's just getting a hard time dealing will all of these even though good news is embracing it. Let's just give time bitcoin to recover fully amd let bitcoin do all the job.

[Vaskiy]

The major reason for the recent price increase causing the price go above $11000 is the China New Year. Now the price fell to a small value down and soon it has started to grow forward. The price growth is expected to sustain with more growth being experienced on bitcoin as well other digital currencies.

[jtbcoins]

For now it's growing, but very slowly. I don't know what to happen in the next few month. Hoping for the best!

[vicvicto17]

Bitcoin price is increasing and it should rise more and more. it will get to another all time high in the next few weeks. So if you have extra penny their then i suggest you can buy more coz it will take off very soon. Bitcoin price afftected due to an event celebration of CHinese New Year this is a yearly cycle.

[timerland]

Price increase??

Or decrease??

Or nothing??


How about your opinion?



I think there will be a little bit of price up coz Chinese investors should purchase some Bitcoin after coming back from their holiday.

I think that prices will first decrease, then increase.

We're in the decrease stage right now.

Why this happens is because the Chinese New year event has generated so much hype that when it dies off, people will question whether or not it actually had an effect on the market and sell. But in my opinion, Chinese people will have the chance to purchase coins after the Chinese New Year, and they'll probably be a lot more confident coming out of the new year seeing the prices increase like it has and buy instead of before the CNY.

[quality.crypto]

The market seems stagnant and maybe chinese new year not really affects the price but maybe this little growth is due to some certain scenarios came with bitcoins but maybe we can see the huge series of pump when the real season came on bitcoins since if we based on the market charts bitcoins mostly reach its New ETH on year ends and suddenly dump on january-february.

New ATH may occur by the last quarter of the year so keep holding till then, Chinese new year doesn't seems affect crypto now since most of them were not into crypto this much due to some banned exchanges.

Yes, I agree there is no effect Bitcoin market and one thing Chinese government ban the forgien exchange due to because there are many users in their country are using cryptocurrency trading, so in this case loosing some potential to their currency, so only they ban the forgien exchanges.

[Budugbass]

I think chinese new year is not very affecting the bitcoin and other crypto  price 

it could be, dude.. of course the citizens in each countries are not all not involved with the Chinese New Year's Day, and all activities will be stopped a while.. surely will be tended first on that day, some are maybe doing selling crypto also other activities are stalled, and after that activities related with crypto re-run, they are certainly doing buying back & doing a various effots that can be affecting to the price. I'm more tended thought.. for the next & so on, the price will be increasing unexpectedly (slowly but sure).

[snowdropfore]

why all of you hoping chinese to help rise the bitcoin price ? when the bitcoin price is crash, all the people shout :f*k china ??chinese has nothing to do with it .

[Xardasim]

In my opinion its not true because when 2018 has came not only Chinese every world began sold their coins but price has not dumped.Bittrex, Cex, Bitfinex, Binance has stopped registration when new year has came. Price is dumping now. Why? I think bearish market's reason is panic selling not other reasons.

[futureofeth]

why all of you hoping chinese to help rise the bitcoin price ? when the bitcoin price is crash, all the people shout :f*k china ??chinese has nothing to do with it .

Exactly, people should get more awareness about the Chinese is Big country but most of the Bitcoin is not traded by themselves. So only it is not affecting Bitcoin much, it is because every year Bitcoin price is corrected in order to become more strong in the market.

[alyssa85]

I think there will be a little bit of price up coz Chinese investors should purchase some Bitcoin after coming back from their holiday.

You know that China banned bitcoin in the spring of last year, right? All the exchanges were shut down - and it made no difference to the price because it turned out they weren't players in the bitcoin market, it was all fake volume.

The end of the Chinese new year will have no effect because a) they can't buy bitcoins, they haven't access to exchanges and b) they weren't very into bitcoin in the first place, it was all fake.

[BingoDog]

No, I don't think this will have any influence on bitcoin price. Generaly speaking the influence of China is not that big as people beleive it is and the bitcoin price is not falling nor rising (only) because of them.
Currently market looks like it's recovering, the price is slowly rising crossing 10000$ but I don't think this has anything to do with China.

[audaciousbeing]

Times without number, we only want to give ourselves reasons where none or the right one exist. When the Chinese were about to start the new year, and the price of bitcoin was going down, I remembered that someone was explaining the reason to mean because the Chinese were starting the new year but along the line the price starts to increase and my question is Did the Chinese sneak out to trade in crypto currency in other for the price to increase?

The fact is, whatever happen to price is a cumulation of factors that are even unknown to a lot of us and any obvious festival that happen at that point in time, is purely a coincidence and not anywhere related to the direction of price swings.

[plastcom]

In my opinion its not true because when 2018 has came not only Chinese every world began sold their coins but price has not dumped.Bittrex, Cex, Bitfinex, Binance has stopped registration when new year has came. Price is dumping now. Why? I think bearish market's reason is panic selling not other reasons.

This account, Xardasim is stolen !! You are a thief - please, give back !!

The information has been forwarded to cyrus - bitcointalk admin.

[carlisle1]

Price increase??

Or decrease??

Or nothing??


How about your opinion?



I think there will be a little bit of price up coz Chinese investors should purchase some Bitcoin after coming back from their holiday.

so what now?its how many days after Chinese newyear ?is there a good effect?well for me i guess theres some small affect because bitcoin price is stabilizing now and doing better ..so best thing to do is to wait for another week for improvement