Bitcoin will boost like a rocket after this Friday (Eid Festival Celebration)

[Superzpay]

As all of the Muslims are withdrawing their money for this Eid which will be on the coming Friday or Saturday the price of bitcoin is reducing. After that none of them will need that money and they will recover their previous portfolio and for that they will buy back their bitcoin which they sold now. The price of bitcoin will rise again. Stay tuned as it is June and the price of bitcoin will boost like a rocket.

[coralwoods18]

I was thinking the same. Why suddenly all the coins price fall just before Eid. If your reason is true than I hope to see a big push after Eid.

[syarifudin]

because before the bitcoin celebration will fall in price, for example yesterday before the price of bitcoin prices had fallen, and after the price returns stable

[Maestro75]

I thought bitcoin was Haram to the Muslims. OH, have they embraced this new money also now?

[dothebeats]

I thought bitcoin was Haram to the Muslims. OH, have they embraced this new money also now?

I also thought of the same, though there's a chance that there are different Muslims who don't treat it as such. But tbh, I don't see a strong link of Eid on the price losing steam since most of the time, BTC/USD doesn't care whatevee holiday it is; no matter how the weather, what event it is, BTC/USD always trades and therefore never loses people doing some action behind the graphs. Hopefully this is true, since price just broke one key support earlier thiss day, and that's increasingly worrying I should say.

[scooby_doo23955]

I agree with you on this. I think for celebrating the Eid, Muslims are cashing out their money and this resulted to ta price fall. If this is the reason then after the Eid celebration is over we can certainly hope for a new beginning and a peak value of bitcoin.

[Wheelige]

I thought bitcoin was Haram to the Muslims. OH, have they embraced this new money also now?

I also thought of the same, though there's a chance that there are different Muslims who don't treat it as such. But tbh, I don't see a strong link of Eid on the price losing steam since most of the time, BTC/USD doesn't care whatevee holiday it is; no matter how the weather, what event it is, BTC/USD always trades and therefore never loses people doing some action behind the graphs. Hopefully this is true, since price just broke one key support earlier thiss day, and that's increasingly worrying I should say.

The only real correlation I've seen between a holiday and btc/usd is Chinese new year, but there wasn't a massive pump after that this year like expected. People seem to keep pointing to different events and news when BTC takes a drop and dont consider the TA. Why would price pick up immediately after a bunch of people take money out? Taking that would have a knock on effect to a greater population than the people that initally sold and thats may be whats happened a few times this year.

[avikz]

As all of the Muslims are withdrawing their money for this Eid which will be on the coming Friday or Saturday the price of bitcoin is reducing. After that none of them will need that money and they will recover their previous portfolio and for that they will buy back their bitcoin which they sold now. The price of bitcoin will rise again. Stay tuned as it is June and the price of bitcoin will boost like a rocket.

That's probably the real reason for bitcoin's price decrease. The most valid reason that makes sense. Same thing happened in 2017 during Chinese new year as well. I was not able to get any proper reason for the current market plunge which made the entire situation more confusing. Really hope this happens.

[BTCdoaA]

As all of the Muslims are withdrawing their money for this Eid which will be on the coming Friday or Saturday the price of bitcoin is reducing. After that none of them will need that money and they will recover their previous portfolio and for that they will buy back their bitcoin which they sold now. The price of bitcoin will rise again. Stay tuned as it is June and the price of bitcoin will boost like a rocket.

Are you serious ? bitcoin price speculation has nothing to do with regional festivals around the world ! it depends mainly on developments , adaptation and many other factors .for example if gulf countries legalize bitcoin as main currency to be used between those countries will increase demand and the price moon fast . 

[Superzpay]

I thought bitcoin was Haram to the Muslims. OH, have they embraced this new money also now?

No it is not haram in Muslims but it is a new technology and there is no bad to adopt the new and advanced technology which do not have anything wrong. Islam only forbid those things which give harm to the people and to the society while bitcoin is giving much benefits to the people and to the society. It is giving jobs to many unemployment. So Islam accept that type of technology which have benefit to the people and to the society.

As all of the Muslims are withdrawing their money for this Eid which will be on the coming Friday or Saturday the price of bitcoin is reducing. After that none of them will need that money and they will recover their previous portfolio and for that they will buy back their bitcoin which they sold now. The price of bitcoin will rise again. Stay tuned as it is June and the price of bitcoin will boost like a rocket.

Are you serious ? bitcoin price speculation has nothing to do with regional festivals around the world ! it depends mainly on developments , adaptation and many other factors .for example if gulf countries legalize bitcoin as main currency to be used between those countries will increase demand and the price moon fast .  

Do you not know that when people sell bitcoin on a large scale then the price reduces? Do you not know that for celebrating a festival people need money?
Because of mass selling the rice dropped.

[Baimovic]

when today we see bitcoin prices fall drastically, I think people who will withdraw bitcoin will be less. and they will choose to hold or buy more bitcoins with a gift from Eid.

so, Eid Festival Celebration will not make bitcoin fall deeper.

[zap2per]

As all of the Muslims are withdrawing their money for this Eid which will be on the coming Friday or Saturday the price of bitcoin is reducing. After that none of them will need that money and they will recover their previous portfolio and for that they will buy back their bitcoin which they sold now. The price of bitcoin will rise again. Stay tuned as it is June and the price of bitcoin will boost like a rocket.

This actually makes sense. I didn't think of it but there may be a very big number of transactions and the price of BTC suffered because of it.
Well I hope you're right.

[James andrew]

I hope this eid festival bitcoin price rise again now bitcoin down and down so I hope this eid celebration bitcoin pump again