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Author Topic: Chinese New Year - Effect On Crypto  (Read 221 times)
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February 20, 2018, 12:49:32 PM
#1

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
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February 20, 2018, 01:46:58 PM
#2

There's a trend that Bitcoin crashes a few weeks before Chinese New Year, which may be one of the reasons why January is traditionally considered a bearish month. It still seems to hold true this year, despite the extremely low Chinese Bitcoin trading volume, which is weird.

No one really knows what to expect, but if we follow the trend of the past years, February typically performs much better than January, with the rebound starting to occur around the time Chinese New Year drops.

Correlation =/= causation though, so this might have nothing to do with Chinese New Year at all. Trends only go on until they stop, too.

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February 20, 2018, 02:09:22 PM
#3

Lunar New Year this time not so big impact on the decrease of bitcoin, bitcoin only down about 9% only.
Now the Lunar New Year has passed and bitcoin has increased by about 9% just as before (running in the same place).

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February 20, 2018, 02:25:51 PM
#4

The Chinese New Year has an impact on the economy that leads to a decrease in bitcoin, but not too low. That's because the people who celebrate Imlek prefer culinary shopping and spend a lot of money for the needs of Chinese New Year. But after the, bitcoin back up as before.

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February 20, 2018, 02:28:54 PM
#5

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
I guess the impact this year is not that great when compared to the effects we have seen in the past few years because there are more support from people today. Also, I don't think that Chinese new year is not a significant event to watch out anymore when it is related to bitcoin price since it doesn't impact price that much. For sure, market cap would be lowered on some coins but expect recovery after Chinese new year hype is gone.
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February 20, 2018, 02:32:03 PM
#6

Not all Chinese are in CHINA, We also know that Most countries have CHINA TOWN on their places,
Chinese believe that they must have the money in celebrating the new year, they want to have wealth on the time the Year Change!
I believe that they are converting their tokens and coins into FIAT and now that the Chinese New Year ends, they are now coming back into crypto and this is the reason of the rise of the market.


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kevoh
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February 20, 2018, 02:42:37 PM
#7

The chinese New Year did not make much of an impact on Cryptocurrency this year when compared to 2017.

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February 20, 2018, 02:47:39 PM
#8

The past month has been a challenges on bitcoin that price over went down. And this Chinese New Year has really effect on crypto that makes price decrease. But if we can observe now after this event price seems a plus sign to increase in the market.

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February 20, 2018, 02:55:45 PM
#9

Yes, it can be affect on Crypto because the Chinese celebrate the new year for the happiness tand enjoying they season so the marketing in the Chinese affected and maybe decreasing in this days for temporary but the value It will also disappear when some days have passed.
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February 20, 2018, 02:56:44 PM
#10

in fact, the upward trend of market has happened a few days before china new year, so it seems that it does not matter much, the most influential in my opinion is a global issue that is trying to be developed massively

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February 20, 2018, 03:01:16 PM
#11

The chinese New Year did not make much of an impact on Cryptocurrency this year when compared to 2017.

The year has started well as the price this time is moving more stable upwards rather than rising instantly and than crashing back badly. So instead we should prefer rise happening slowly and having a resistance which can support at a certain level will help all the investors and traders as well.




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February 20, 2018, 03:10:57 PM
#12

The past month has been a challenges on bitcoin that price over went down. And this Chinese New Year has really effect on crypto that makes price decrease. But if we can observe now after this event price seems a plus sign to increase in the market.
I feel like that has to do with the big crash from last month , maybe the profits were to small to take .
Maybe we still will get the bull run after new year next month.

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February 20, 2018, 03:13:55 PM
#13

I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

this speculation came out more than a month ago. in fact it is more like the January effect for bitcoin: https://bitcointalk.org/index.php?topic=2767038.0 and it happens every year where we have a sizable drop in price of bitcoin.

i seriously doubt that anybody is actually "cashing out" for any holidays or festivities or anything like that because it is absurd! you never hear people selling their stocks, golds, real estate, ... or any other kind of investment to go on a holiday. they instead use their profit from these things, their bonuses, their saving,... to enjoy the holidays!

Quote
What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
since it already happened there is no more "fuel" left in this news to cause anything at all in the market. so i expect nothing because of it.

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February 20, 2018, 03:25:15 PM
#14

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..

I really think that Bitcoin and other market crashes during Chinese new year. As we all know that a huge number of investors are from Asia, and maybe they dump most of their holdings to celebrate the holiday. A lot of people are also contributing to the crash because of panic selling. This gives a good opportunity to investors because they can buy coins at cheap price.
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February 20, 2018, 03:28:26 PM
#15

I really think that it has something to do with the recent market crash. Maybe most people from Asia withdraw their money. That's why it's always safe to dump before the New Year starts, so that you can take advantage of the dump and buy coin at cheap price.

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February 20, 2018, 03:31:50 PM
#16

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..

There is no exact effect to bitcoin with regards to chinese new year. As you can see on the chart bitcoin price is still rising and with the chinese new year already done, i guess there is no other holiday that could make an excuse for a drop of price. So hopefully the price hike would continue until the end of this year.

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February 20, 2018, 04:50:10 PM
#17

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..

I really think that Bitcoin and other market crashes during Chinese new year. As we all know that a huge number of investors are from Asia, and maybe they dump most of their holdings to celebrate the holiday. A lot of people are also contributing to the crash because of panic selling. This gives a good opportunity to investors because they can buy coins at cheap price.
Yes, some Asian investors sell coins to celebrate Chinese New Year and holidays with family .. this opportunity is also used by some investors to take some advantage because of the cheap price ..

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February 20, 2018, 05:31:18 PM
#18

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..

I really think that Bitcoin and other market crashes during Chinese new year. As we all know that a huge number of investors are from Asia, and maybe they dump most of their holdings to celebrate the holiday. A lot of people are also contributing to the crash because of panic selling. This gives a good opportunity to investors because they can buy coins at cheap price.
Yes, some Asian investors sell coins to celebrate Chinese New Year and holidays with family .. this opportunity is also used by some investors to take some advantage because of the cheap price ..

I think the January/February crash we have witnessed the last few years in advance of Chinese Lunar New Year is somewhat of a self-fulfilling prophecy. I do not think that the actual effect of the new year would be so great on the market. But as people have attributed previous crashes to it I now think that many expect it and withdraw funds from the market in advance of it, thus the timing is right but the reasoning isn't exactly.

Whales are also fully able to take advantage of this to manipulate prices, if they know that there will be a reasonably sized sell off they can use that event to create panic and cause a much bigger dump.

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February 20, 2018, 05:56:43 PM
#19

What do we see now? Bitcoin was already at the bottom, now began to grow, but the celebration of the new year in China does not allow him to show all his growth. I think by the end of February, bitcoin will reach the level of 13-14 thousand dollars.

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February 20, 2018, 06:47:43 PM
#20

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
My thought is that it will bring new faces to the ecosystem and the old investors going back as well. So that's what we are currently seeing, the price has been increasing specially after the Chinese New Year, current price now: above $11700.

So the previous trend still holds as of now. But we shouldn't account everything from the Chinese New Year itself. Maybe investors from other parts of the globe are also flocking again the pushed the price to this levels. Let's see. But it looks that we are now out of danger of a slide.

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