Chinese New Year - Effect On Crypto

[The Alchemlst]

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).

True, I was expecting a more dramatic changes in the market not just on bitcoin but to altcoins as well since it is even expected to have btc moon because of Chinese New year but then again I guess it just proves on how unpredictable the market is.

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[Indra32]

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..

often a big day or a particular religious event becomes the cause of the rise or fall of the value of a stock. this of course also applies to crypto currency that could be affected, but that's just my opinion alone

[peter0425]

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).

True, I was expecting a more dramatic changes in the market not just on bitcoin but to altcoins as well since it is even expected to have btc moon because of Chinese New year but then again I guess it just proves on how unpredictable the market is.

After what's all been said and done. There was no dramatic changes in the market as everyone has suspected. We are all very happy thinking that the end of the Chinese New Year will bring new hope to all of us to end this bearish trend, sadly though it was not the case.

So its safe so assume by now that in the next coming years, no holidays will have a big impact on bitcoin. Its still based on what people though about it, whether investing on it for short/long term, or quickly dumping it during crashes or if they needed fiat ASAP.

[Kidmat]

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..

often a big day or a particular religious event becomes the cause of the rise or fall of the value of a stock. this of course also applies to crypto currency that could be affected, but that's just my opinion alone

On that day we could really expect price is fluctuating that affects always the market. Price drops down because of that event it is also a good to buy or invest in crypto.

[Boysen]

A lot of chinese bitcoin enthusiasts or even those who just celebrates Chinese New Year and have invested on cryptocurrency cashed out their tokens amd converted them into fiat to buy things and foods for the chinese new year. Resulting to a drop in value last February.However, since there are more people supporting and actively engaging in the bitcoin industry we didn't felt the impact that much.

[xieqieshangu9]

It turns out that Chinese New Year has little impact on BTC!

China has shut down many of its exchanges.

And Chinese people like to speculate, buy BTC when the market is low, sell at high time!