Is market down due to Eid of muslims?

[crypto360]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

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[Lorna111]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

[shaw1]

Yep. I'm thinking the Muslims are to blame for bitcoin crashing.

And not only are they to blame, but it is because they are giving gifts! Like billions of dollars worth of gifts.

That sounds logical and fair.

Let's go with that one, instead of blaming bitconnect style idiots who wanted to double their money fast, and then panicked when the market didn't keep going up. Let's blame a whole religion, instead of blaming prices going up wildly without any clear relationship to the rate of adoption of the currency. Let's blame gifting, instead of the whole bitcoin futures fiasco, that has brought bitcoin back to a reasonable point, from its overinflated cap.

Don't get me wrong. I'm bullish on bitcoin, and blockchain technology in general. But it went far too high, far too fast. And nobody was using it. (Much. Obviously people are going to disagree somewhat, but the basics are there.) You can't buy on amazon with bitcoin. You can't walk into most grocery stores and pay with bitcoin. The gas you pump does not accept crypto.

We need that kind of adoption. Slower, yes, but sustainable. That's how you get real value. Bitconnect didn't have a use. So it crashed to zero. Bitcoin has a use, but not nearly as big of one as many speculators thought. So bitcoin is crashing. (Just not to zero.)

Bitcoin hasn't won yet. It isn't an inevitability. We still have to show the world why it needs the blockchain.
And we'll get there. But blaming a religious holiday for bitcoin's price not continuing to soar?
That's just ridiculous.

[baconlike]

After 30 days of vegetarianism, the Muslims of the world attend the Eid al-Fitr mass prayer, then enjoy the most hearty breakfast of the family after 30 days of dieting. . That is not the reason the market is down for that holiday

[gstar - ross]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

HAHA u crack me up buddy

[Gogochen]

People are always looking for reasons to fall.
Most of the time, however, these are not the reasons for the fall at all. The fall is the behavior of the market.

[pooya87]

lets say you have bought some stocks of a company like Facebook for instance. when it is Christmas are you selling your stocks to buy gifts for your family and friends or will you just use your money instead?

so why do you think bitcoin is any different? this has nothing to do with this "Muslim Eid" at all. it is a dumb trend that has been going on for a while. they started it with Chinese holiday and then repeated the same thing every time there is anything remotely like it!

[arief.sutono]

For whatever reason, Muslim celebrations have nothing to do with Bitcoin prices, please read the indicator why Bitcoin prices go up and down, you post a rather sensitive question to post on this treed. Remember the Market is Volatile, anything can happen at any given time, the market reacts based on the volume of investments entered by a number of investors in the trading market and NO RELATIONSHIP WITH CERTAIN RELIGIOUS AGE on this Celebration even if we assume that they use Bitcoin to buy gifts or anything that ever it is only a small part of market cap.in the trading market will be posted. Thanks

[player514]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I highly doubt this is a thing. People wouldn't take their money out of stocks and real estate just to buy gifts would they? If someone needs money that badly for gifting to other people, they:

1) Wouldn't have the money to invest meaningfully anyway
2) Probably wouldn't know about crypto and bitcoin in general
3) Would be making a big mistake since there will likely be fees associated with moving money out of an investment.

It doesn't make sense for anyone (not just Muslim people) to take money out from these sources just for gifting purposes.

[samcrypto]

Definitely not, they will surely not spending much of giving gift because Muslims doesn't live this way, they are quiet living in a simple way. I don't really think it can affect the market price even if they withdraw a hundred of bitcoin. Better to find another reason why this market is dumping or focus on just accumulating more coin since the price are still cheap.

[Tylev]

The crypto-currency market also fell before this Muslim holiday. In general, there will be some holidays in the world, every nation or nation has its own traditions and holidays. This does not mean that the crypto currency market will never rise. Here there are their own processes. While bitcoin is not ready for its growth.

[Menawikitajodohkok]

the price of cripto money down it's not because of the good fortune Idul fitri, down because every time the market price on what day can go up, sometimes Eid can fit up, I never ngalamin in the new year also down .

[umar22pk]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I don’t think is it any connection of bitcoin falling value with Eid ul fitar, but we can say there is a lot of rumors  related with bitcoin by social media & some government authorities as well is the main reason of this bubbling.
If we talk about correction of bitcoin then it will be also not false, because after a high rise in January 2018 correction was also necessary.

[Nerman]

Although because of the upcoming holiday for our Muslim brothers and probably some are selling their Bitcoin to cash out and use the money for this holiday, I do not think that it is not enough to cause any type of Bitcoin crash. There  are a lot of going on and the price downtrend is a cumulative of all the FUD.

[CAPT.DEADPOOL]

there is nothing to do with eid muslims in the fall of the market because the market crashes because of bitcoin so many losers and investors and now hold their job so they do not lose the way so you do not lose the cheap to recover you

[Beehives]

I doubt it. There’s anyone has a figure of muslim population doing crypto? If only base on population it will not really hurt the market. I think the reason why the market suffer because of the whales playing again to gain more on their advantage.

[Dr.Osh]

it is possible that many bitcoin Muslim entrepreneurs sell their assets and make the bitcoin price down a bit. well, we know that so many very wealthy Muslim entrepreneurs, like the dubai people.

[marc_a]

I think we had this discussion also when it was x-mas, and it will all be better wehn the chinese new year starts.
I think most poeopl will not sell because it is an important day in a fairytalebook

[richminded]

The current drop is nothing to do with the Muslims its more on the manipulation of the whales. Let’s not connect every event to the fall of bitcoin or any other cryptocurrency remember that this market is drive more on the negative news and the weak emotion of a new investors.

[Helex]

I don't think so because the last 4 month market is down. There are no connection between market and Eid. I heard similar words during Christmas and valentines.

[SMD.Shuvo]

It seems to me that due to the Eid, the market is very low because of Eid. After the Eid maybe the market will increase a lot. If the market increases, it is much better for ordinary people like us

[batang_bitcoin]

Yep. I'm thinking the Muslims are to blame for bitcoin crashing.

Why would you blame them? I can't find the correlation between Eid/Muslims to the market down of bitcoin.

They even passed with their sharia law that bitcoin is compliant with their religious law so they can be part of the increase instead of the crash. I'm only thinking about the whales and bitcoin futures right now but it never came to my mind that their festival has something to do with it.

Since first quarter, they are the ones to blame? no.

[Azial]

Maybe they are one of the factors why the market went down but there's still alot of other factors so we can't blame it all to the Eid of muslims.

[Phyton76]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

You have quite a point there ut gow did you find the relation of bitcoin and muslim celebration? Our muslim brothers and sisters are just celebrating their feast and bitcoin has nothing to do with it. We must practice respect and civility. Just remember that noone really knows why cryptocurrency prices go up and down but it is its characteristic that is called volatility.

[dothebeats]

I don't see any strong correlation about the Eid and the market. It might be that most traders just timed their profit-taking so that the Eid is to blame for the actions and not look for any underlying reasons as to why the market is down. It could also be that there are Muslim traders who took profit shortly before the Eid, which would somehow explain why the gloomy aura in the markets are to be found. Nevertheless, festivities and holidays, I think, aren't to blame for the market crashes; we just are tired of analyzing and we look for easier targets to put the blame at.

[cahbagus555]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that will give huge effect on cryptomarket. Many market like forex and stocks exchange still running and have big transaction volume. Eid just affecting on most muslim country

[Jeffpod]

I think the crypto market went up a little so I don't think this is the cause.  You never know though since its so volatile, we might see a nice spike once Eid is completed.

[imyashir]

ramadan does not have connection to bitcoin. We do not blame a religion for them to respect them. Learn how to analyze the crypto market so we can avoid repentance.

[Herlina]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think the market turns red in the last few days is not caused by it, maybe FUD is the main cause
Some mainstream media horrendous public by creating FUD from little cases like Coinrail Hack and the investigation of four major cryptocurrency exchanges, new investor confidence is broken because of this FUD and panic selling

[AliMan]

I don't think so because the last 4 month market is down. There are no connection between market and Eid. I heard similar words during Christmas and valentines.

No it doesn't have the connection at all so I don't know where did you get that kind of idea. Let's respect the eid of muslims hence it doesn't affect the situation of market. As far as I know even before the eid market was already in trouble so eid of muslims has nothing to do with it. And even the rise of market doesn't need the eid of muslims so don't relate each other,

[vonnyaries]

please we all know herer that eid mulsim is doesn't have related with bitcoin price, we all know that the price of bitcoin is affected by bad news yesterday and we all know that eid muslims is not a bad news, so please take away your perspective with this article.

[gabbie2010]

There is no statistics to proved that the recent fall in the price of bitcoin is as a result of Eid of Muslim celebrations considering the ratio of population of Muslim hodlers to other hodlers is quite small and for the fact some Muslim faithfuls might have exchanged some btc to fiat I believed that wouldn't have any impact on the price of btc.

[taranbam]

I think this crazy idea. They simply do not have enough volume of the crypto currency to influence the market and the value of the crypto currency.

[maicahlove]

I don't think that Eid is the cause of market down because it doesn't have relation to a holiday celebration. I think the cause of bitcoin market price down is due to people who are into panic selling and huge amount of bitcoin are sold so thats why it is very low today.

[crypto360]

I am not judging or blaming any religion just everytime we see this trend in the market whenever we have these holidays whether it be christmas, Chinese new year or Eid

[xali]

no.. this has nothign to do with it and it would be impossible to see a downside only because of it, they are not moving billions of dollars to be honest, not even a half of it

[hardtargetbtc002018]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think the religious activity of our muslim brother is not the reason why crypto are falling because theres no strong connection of the Eid to bitcoin investment.

[Abdullah.dhariwal]

May be yes or may be not. i am not sure about this but as far as i know Muslims makes new investments and businesses on their festivals. so don't worry because this bear will ends soon

[kaimenh]

Oh my God. I don't think so. The reason for the decline is that funds are not ready to come in. The dollar is sucking gold. The World Cup is also sucking gold.

[anyixuan]

I don't think it's their Eid.. haha. I think it's too bad for Saudi Arabia to lose. Go back and communicate with the Arab countries. Demonstrate anger on the game with action!

[Chrisjay29]

I think cryptocurrency market is not connected to the eid of muslim they might be coincidence and im not surprising with the market now because my opinion this month will be dept

[zhengqiurong2@163.com]

Your logical thinking is invalid. I don't think Eid would affect the cryptocurrency. Cryptocurrency is a global movement. I think this is the reason why current funds are not willing to enter the cryptocurrency.

[indayburakday012]

No way it could be like that because in muslim religion they are fasting and will not eat anything so it will make sense on holding their crypto or bitcoin instead of selling it. Besides times are not good to sell bitcoin instead the time for now is good to buy bitcoin. I do know that there will be another comeback on it in the market price in the next few months.

[Crypto_Sassy]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

What made you think like that. Look like that for every price fluctuation we need something to blame.
They can give bitcoin as a gift too, no need for them to sell it and buy something else. (just my thought).

I do not understand , why people blame drop in market to some factors when nobody is still able to explain what cause market to reach at $20K USD.

[hualy2]

I don’t understand what the relationship between Eid al-Fitr and Bitcoin is. There are a lot of things they don’t have very close relationship with Bitcoin, but some people always like to link them together. This is very ridiculous.

[sangkler11]

so many factors are affecting the current bitcoin price, and Eid of Muslim may be one of them because all Muslims need a lot of money to celebrate. but I think the effect is very small

[crypto360]

Guys let me be very clear again i am not here to blame anyone or any religion this trend is normally seen before every holiday and we can very eaisly expect muslims whales to be there too of Saudia arabia and dubai they are very rich they can eaily manipulate the market by selling and even they would want all muslims to buy crypto at a very cheap rate as a gift of eid 😁

[zolfa]

I think eid day is not the cause of the falling bitcoin, because, before the eid day, bitcoin has fallen. and many Muslims do not sell bitcoins, they are trapped by long correction. so they prefer to hold in a long time.

but, maybe eid day can also be the factor that makes bitcoin fall, but on a small scale, and does not dominate the fall of bitcoin.

[alfs75]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

thats is the big mistake that because of Eid of our brother muslim the exchange market is going down,because there is no connection between the feast of the islam religion to digital currency investment,even there some our muslim brothers exchange there crypto coins into fiat in order to buy a gift for there love ones,because since from the start of this year the block chain market faces so many problems and this Eid of our Muslim brother is  no affection to the things happen in cryptocurrency.

[cardo]

I don't think if Muslim holidays will affect Bitcoin prices, there are lots of factors that bitcoin price falls down, Bitcoin dumpers, fake news about bitcoins are the reasons why Bitcoin have a bad price.

[Easteregg69]

The yearly magic carpet flights should take some weight of the market.

Try from a high place..

[jagdeepjd]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

We were in a downtrend since January so I don't think this fall hs any relation to the festival of Eid. It is just the big whales dumping to grab the cheap bitcoin. Also, we were supposed to hit such low for a healthy reversal as per the Technical analysis of many analysts.

[THATBTC]

Yep. I'm thinking the Muslims are to blame for bitcoin crashing.

And not only are they to blame, but it is because they are giving gifts! Like billions of dollars worth of gifts.

That sounds logical and fair.

Let's go with that one, instead of blaming bitconnect style idiots who wanted to double their money fast, and then panicked when the market didn't keep going up. Let's blame a whole religion, instead of blaming prices going up wildly without any clear relationship to the rate of adoption of the currency. Let's blame gifting, instead of the whole bitcoin futures fiasco, that has brought bitcoin back to a reasonable point, from its overinflated cap.

Don't get me wrong. I'm bullish on bitcoin, and blockchain technology in general. But it went far too high, far too fast. And nobody was using it. (Much. Obviously people are going to disagree somewhat, but the basics are there.) You can't buy on amazon with bitcoin. You can't walk into most grocery stores and pay with bitcoin. The gas you pump does not accept crypto.

We need that kind of adoption. Slower, yes, but sustainable. That's how you get real value. Bitconnect didn't have a use. So it crashed to zero. Bitcoin has a use, but not nearly as big of one as many speculators thought. So bitcoin is crashing. (Just not to zero.)

Bitcoin hasn't won yet. It isn't an inevitability. We still have to show the world why it needs the blockchain.
And we'll get there. But blaming a religious holiday for bitcoin's price not continuing to soar?
That's just ridiculous.

lol u right, but the bitcoin it's gaining this force
https://btcmanager.com/cryptocurrency-for-the-cannabis-industry-gains-20-percent-after-diplomatic-apprearance/

[@oweljayr]

I don't think there is connection at all with regards to Muslim's Eid celebration.  Even other religion's feast wont affect any ups and downs value of bitcoin or any other cryptocurrencies.  Even there are no feasts to celebrate at all, cryptocurrency values fluctuates.

[badakjawa]

I think that's not the main reason why bitcoin falls. but the main reason for bitcoin falling deeper is because of many problems in the crypto world, like many scams on every ICO project, a few days ago titanium bar did fraud against some investors. and the SEC directly arrested the CEO of titanium bar. then also coinrail exchange hacked.

[stompix]

Let's see, largest Muslim country by population...

Indonesia,largest exchange Indodax, volume......$1,444,440  LMAO!!!

Pakistan, largest exchange.....shut down...

Urdubit, a cryptocurrency exchange that first launched in 2014 with the goal of building a base of support in the region, said in the wake of the statement that it will shut down.

 LOL!

India, largest exchange, Zebpay, volume.. $934,197 ROLF

Bangladesh, ups bitcoin is banned here

Egypt, largest exchange..oh.. there is no such thing.

So, Eid what???

[darkangel11]

OP's comparison reminds me of those people who are always looking for the simplest, nonsensical explanation.
BTC lost value in December? - People are selling to buy Christmas presents.
BTC gained value in December? - People are buying to add BTC to their presents.
Can we really get more ridiculous than this?

[nanasei]

I don't think there is a correlation between a religious festival and the rise or fall of a cryptocurrency assets. If the Muslim are using cryptocurrency as a payment which they won't be able to use again,you can then assign their festival to the downsized of the market.

[Ootsumasu]

I think it could happen because of the habit in every day of the world's big day, the market will tend to go down.
Moreover, the big day that the population has many followers in this part of the world.

[altcoinanalyst1]

The muslims giving gifts has no relation with the crashing of Bitcoin price. If you are thinking they need to give million dollar prizes then trust they have enough money to buy hundred of these, they need not to sell bitcoin in order to buy gifts.

[iram3130]

I dont think there is any logic behind this. I have muslim friends and they are trading even in Ramadan season. On the contrary, Crypto market is ready to rise back and a small green bar may get some good volumes in the market right now.

[roadwell890]

I think all Muslims in the world, wanting to need fiat money that is used for charity and sharing pleasure, as it is when Christmas, all crypto has dropped dramatically and immediately bounced quickly

[m. yasir]

Maybe you are not calm. Prices up and down are normal in the market. Without having to blame any religion and remember everyone can buy when the price goes down. Hopefully you are more wise in seeing the market situation.

[kcirnhoj15]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

People nowadays are always thinking and predicting what are those possibilities that some of the crypto makes them down 
Are muslims do really affect the crypto market ?  Are all these investors that makes the market changes? Come to think of it, there are bad and fake news that affect the market, there are scammers and because of these some of the investors are making their path for what is the best. Last year on December, a lot of investor sell their bitcoins - and the price or value doubled 

[anrian062]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

well. the fairest answer to this question is MAYBE.
Yes, some of Muslims usually spending more money at the end of Ramadan to celebrate Ied Mubarak. and maybe some of money they invested in crypto will withdraw for the sake of Ied Mubarak, and yes market capitalization for BTC is falling at the 9th June 2018.

but, remember that we Muslims are spending money into the market.
lest see this Ied Mubarak as an annual economic event worldwide.

[LarryX5]

No, it`s not the reason. At December there are Christmas holidays and if I remember good, bitcoin price was at the highest level.
And for sure, it wasn`t because of Christmas.

[GoldenLad]

Nah...the Muslim celebration has nothing to do with it. I personally don't think that religion celebration mostly has anything to do with cryptocurrency. Many people may be thinking that any holiday can affect the cryptocurrency but it doesn't work that way. Most times, its an event that mist occur to affect the price of cryptocurrency by pulling it down.

[siagh357]

If more Muslim are into trading cryptocurrency then I could say yes the market is down due to the muslim celebration because either majority won't be trading or most will be converting their crypro into cash for gifts and enjoyment

[belyakovali]

I do not think that it has anything to do with bitcoin prices.Their population in the world is quite high but there are very less investors.

[markiplier.jack]

No, definitely not. FYI, the recent hack in Korean Exchange, regulatory concerns, the investigations of four major crypto exchanges on alleged price manipulations, the low trades, the so-called short sellers in trading exchanges, criticism from the world's established financial industry, and so on are sensible reasons behind the fall of BTC prices.

[athanz88]

I dont know, maybe if you can give the exact number of how many muslims who have only bitcoin in their pocket and have no cash to prepare for eid, then maybe we can calculate the percentage of the muslims effect on bitcoin prices.

Nah, im just kidding. The price has nothing to do with big day of any religion. It is because the market's law.

[AK47-]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

How that even make sense? As much as I know, people invest more during celebrations. What we saw last year after Thanksgiving, Christmas and New Year, according to my point of view, people rather love to invest in more during such period. Muslims did have their Eid last year as well. But last year, this time period was rather bullish. So assuming anything of this sort is a stupidity as market is experiencing this downtrend for a long time now. It started all back in February.

[Marlo Stanfield]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Seems pretty highly unlikely that this would have enough of an impact on the market at this point.

People also said similar things about East Asians and the lunar new year. That they were selling for the same reasons you mentioned. But it really seems quite far fetched in my opinion.

[taeewo]

its doesn't relates at all as i never see any reason it will affect muslim celebration will affect Crypto..

[Vivif]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I am a muslims but I think muslims is have not the correlation with Bitcoin price. price down is because Demand-supply and another economics factors.

[crypto360]

Reading all your replies i found one comment which really makes sense, which is muslims do have to to pay zakat(charity) which is 2.5% of their annual earning. Let’s think an example for a sec, if a person(whale)has 1000 btc he will have to pay 25 btc!!

Upto my thinking this is a strong case

[keninu]

In celebration of Idul Fitri, Muslims do not like to spend their time selling their Bitcoin and giving gifts to their families. What Muslims do in Eid al-Fitr festivities is mutually bera'af-ma'afan for errors of one brother to another. the decline of bitcoin prices has nothing to do with the Muslim festivities today.

[huige007]

The muslims giving gifts has no relation with the crashing of Bitcoin price. If you are thinking they need to give million dollar prizes then trust they have enough money to buy hundred of these, they need not to sell bitcoin in order to buy gifts.

i think you are new here in crypto market the festivals are relation with crushes of bitcoin price when peoples need money they sell their bitcoin and here are alot of muslims investors who need money for EID and sold their bitcoin for EID shopping. because here peoples invest their money just for profit and when they get profit then they sell their bitcoin and withdraw money, if you look at the back  in last year the market was crushed because of EID and now just like previous year now in  this year also the market are down because of EID.

[boakyei]

This assumption is fallacy. To assume that every crypto trader who is a muslim will sell his valuable asset in cryptocurrency just for a gift for Eid. Even if your assumption is granted, it will be hard that such a sell off will make the market red.

[Caxton10]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Seriously! I don't think Islamic religion has any effect on the price at the moment. Who knows, the percentage of muslims into cryptocurrency might not even be up to 1/3rd of the total crypto market.

[Chacha1000]

The market down could be truly from Eid of Muslims b because many will sell off some of their tokens to have a good time with families and friends

[PacePay]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

I have some friends from Arab and I saw that they are treating bitcoin as money and they have all of their money in bitcoin and when they need money for any thing which is not available then they sell some of their coins. In this time there are a lot of Muslims in bitcoin and they may also do the same as Muslims do not like banking system and they will have the alternative as bitcoin so they will withdraw their money and will use them.

[charlzyeby]

lol...I think the bearish market started long before Eid. And how do you know the number of religious groups involved in bitcoin? This cannot be right in anyway you look at it.

[Hazaki]

As a proud Muslim , i won't feel offended by this topic , not at all ! It probably made my day and made me laugh more than anything else in this whole week because it shows how much people can be simple minded ( no offense to the OP ) .. The correlation between the market's fall and the Eid is not only nonsense , but represents an amount of unique way of thinking ,like you're Sherlock Holmes but in one of those care centers for retarded people   ..
Let's talk in a more serious way , so when Christmas comes people won't accuse it if the market is going down : Let's imagine you bought some stocks, and some event came up , will you be selling your stocks in order to celebrate that event ? ..
And i guess we'll blame the Jews if the market goes up right ? XD ..

[bitterguy28]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

haha its possible but your imagination is very wide even the special day of  muslims celebrating Eid you can connect for cryptocurrency price falling down and obviously if the  muslims sell of their bitcoin during this time nothing possible affecting the price dump.

[PacePay]

As a proud Muslim , i won't feel offended by this topic , not at all ! It probably made my day and made me laugh more than anything else in this whole week because it shows how much people can be simple minded ( no offense to the OP ) .. The correlation between the market's fall and the Eid is not only nonsense , but represents an amount of unique way of thinking ,like you're Sherlock Holmes but in one of those care centers for retarded people   ..
Let's talk in a more serious way , so when Christmas comes people won't accuse it if the market is going down : Let's imagine you bought some stocks, and some event came up , will you be selling your stocks in order to celebrate that event ? ..
And i guess we'll blame the Jews if the market goes up right ? XD ..

Comparing with the Christmas you have a logical reply. It is really the same as happens at the Christmas when people have to celebrate their festival then they sell their coins for getting some extra money the same happened right now. Many people think that they will not sell and many people reply without thinking bitcoin as a money if they will consider bitcoin as money then they will understand more easily.

[300pips]

Dude it has nothing to do with the muslim or islam event. Bitcoin is making a very long accumulation to face 20k and higher.

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

[neya]

In my own opinion the falling of crypto market dont have connection to the muslims eid.if muslim want to give gifts they have own money i think.no need to sell their bitcoin just for gifts.but maybe some muslims that have bitcoin to celebrate eid same with cathoric if we celebrate christmast we sell bitcoin also but not all but only some bitcoin.

[Kelvinid]

In my own opinion the falling of crypto market dont have connection to the muslims eid.if muslim want to give gifts they have own money i think.no need to sell their bitcoin just for gifts.but maybe some muslims that have bitcoin to celebrate eid same with cathoric if we celebrate christmast we sell bitcoin also but not all but only some bitcoin.

I also agree.Even before this muslim celebration,the market price has been already falling.So i think this has nothing to do with the dropdown of price.It's just part of bitcoin's fluctuations.

[ivrynx]

There is no connection, unlike the christian holidays wherein they will go into a spendig spree becuase it is said to give gifts on christmas day, but actually, religion doesn't have any affect with the price of the market, there will always be speculations sayings it is due to holidays, these are somehwat giving us fake news, the market is down, because of FUDs and if you check the volume, it is much lower than usual only a few percent of the community is trading bitcoin. I think we should respect the holidays of different religion and stop relating it to the market, since the market knows no religion.

[neliawesome]

Whats the connection of Eid's muslim tradition?Even if they bought gifts to their love ones as what you said, I dont think that will cause the crypto market down.They can afford to buy things with their own pocket not using bitcoin or other crypto coins just to buy those stuff.

[sammyp]

If there is a reason for the fall of bitcoin I would not attribute it to the Muslim festival. The correlation between the two is very weak.

[azhariusman1981]

I think the market down has nothing to do with holidays Idul Fitri the Muslim, there may be other factors that cause prices to fall, possibly due to the regulations set by each country today.

[Olafs]

Yes, I have an uncle, he is a crypto trader, he gives allowances to his relatives using money from bitcoin.

[crypto360]

For all the folks who are asking or curious about how much do muslims spend on Eid may refer to the following articles which says muslims have a putchasing power of approximately 200 billion dollars in US and 20 billion pounds in UK respectively.. Remember these are only two countries (non muslim states), you can eaisly guess the remaining mulsim world purchasing power on Eid

*https://www.[Suspicious link removed]amp.timeinc.net/fortune/2018/05/16/party-city-ramadan-2018-eid-al-fitr-islam-muslim-retail

*https://www.[Suspicious link removed]s/amp.ft.com/content/9763b2c8-8692-11e7-8bb1-5ba57d47eff7

[Boldcom]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With all due respect, let’s not put the blame to muslims celebrating Eid. It may not have an effect at all. Cryptocurrency price is just so volatile. Veteran cryptocurrency investors know this to be a fact. Let’s not put the blame to anybody.

[roshanface123]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I also think so. They will sell their bitcoin for buying gifts for their loved ones. It will affects the market and as a result market gets down.

[cryptojaani]

I don't think thats the reason.
By the way 'EID MUBARAK' to everyone.

[cryptomichael87]

I don't think so. Currency is a midden of exchange. When some event comes up circulation of currency in increase. which ensure the involvement of more people, it works like an advertisement. So I think "Eid of muslims" will makes more coverage.

[chidrawarster]

I don't think so. Everybody loves withdrawals and spending in their families and loved ones. The market runs on a theory of supply and demand and also the existing volumes. It's all the market cap which keeps the volume intact and also moves in the direction of trend or volume. Hence I would suggest, let's not make this matter sensitive and blame somebody for price drop or rise.

[candy69]

I think that the downturn market has nothing to do with the Muslims celebration of Eid. The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general.

[ambisyon]

I really don't agree with the subject thread topic, it's nothing to do with a Muslim celebration of their festivity regarding any market drop of crypto currency. This bear market are just part of the adjustment period of cryptocurrency where it can happen at any time or any day due to the volatility of cryptocurrency.

[doraegun]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

For additional information to newbie,  organization or religion will no longer connect to bitcoin so all changes and transformation of price of bitcoin is not because of that celebration. try to research in different site like google and you tube about  bitcoin and also her in bitcoin forum you learned a lot about  the good benefits of Bitcoin.

[Ronaldcoin2017]

I think that the downturn market has nothing to do with the Muslims celebration of Eid. The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general.

Yes i agree on that we cannot put the blame on EID Muslims. Because the bitcoin price is not depending on any celebration or anything else on our community. It depends upon the volume of the investors and investors is  depend on the bitcoin feedback so then if we can see that the price is now falling I think it is all because of some negative issue on the feild.

[xfaqs01]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

what on this world did that question came, of course not! i dont see any connection to that, this price drop sure has a lot of factors to consider but its not because of eid.

[Lazada]

I actually feel that ied makes Bitcoin prices stability and even tends to increase. after the last week happened-price decline then the current price has started to show a positive thing. During the holidays this time also turns out a lot of Bitcoin transactions, it seems there are many withdraw against FIAT. I am optimistic after this long holiday then Bitcoin price will be able to increase again.

[StokaySatoransky]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

You have a good argument. however, did you study about this? I mean before you take a suspicion you need to back up your argument with data. So, where's your data now?

[crypto360]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

You have a good argument. however, did you study about this? I mean before you take a suspicion you need to back up your argument with data. So, where's your data now?

Check my other replies to this thread you would find the data

[yuni52]

I think the price drop has nothing to do with ied mubarak, please read the clarification why the bitcoin price goes down, please do not discuss religious issues here

[Markettoken]

very imposible Idul fitri be the reason for the decline in the price of bitcoin because when Idul Fitri all the goods even more expensive and actually up and down in the world of commerce it is very ordinary even has become like the right and left

[CoinstarF]

The current drop is nothing to do with the Muslims its more on the manipulation of the whales. Let’s not connect every event to the fall of bitcoin or any other cryptocurrency remember that this market is drive more on the negative news and the weak emotion of a new investors.

Let's not put any doubt to the Muslims Eid, we all know that bitcoin is volatile and many have trusted here why should we make anything that can make it rise and the whole users can benefit in here I know there's people hiding behind to have a kind heart and stop thier manipulation.

[bp124]

this is really funny but in as much as we have muslims in this forum i don't think they are the cause of the fall in price of bitcoin. Cryptocurrencies are volatile so the fluctuating price of bitcoin is expected at some point in time.

[longwintershere]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I'm sorry but that is ridiculous. People usually don't store the money in bitcoin they would need to use the buy the gifts, also I don't think bitcoin is big in Muslim world.

[9emb3lelit3]

I think the crypto currency market has fallen before EID MUBARAK. And the decline in Bitcoin prices has nothing to do with EID MUBARAK. The fall in the price of Bitcoin in my opinion because of the increasing number of issues or bad news that is not good for this Bitcoin, which causes the decline in Bitcoin prices. And this for me is a natural thing with the fall and rise of the crypto investment market.

[Al-Geron]

why ied mubarak linked to the fall of bitcoin prices, before its coming ied mubarak bitcoin prices have gone down, maybe its a lot of news tilted so bitcoin down, or just maybe many parties holding the price of coins make bitcoin be very step it also can make the price fall

[bitfocus]

so, you are spreading some conspiracy theory that affects two communities 1) bitcoiners 2) Muslims - please try to understand that your freedom of speech must not hurt anybody. If it does, it's not a freedom, its a crime. Please try to grow up a little and act like a grown person.

[adhikari98]

There is no link between price of bitcoin going down  and Eid of Muslims. Arabian countries are already very much rich, Muslims residing there don't need to sell bitcoin to purchase gifts for their festivals and Muslims who live in poor economy countries cannot afford to buy bitcoin. So, without possessing bitcoin they cannot sell either. So, it is wrong to blame Muslims for the price of bitcoin going down in the name of festivals and purchasing gifts.

[bitbunnny]

I have to say that this is the one of the most stupid explanations about Bitcoin price dump that I've ever heard. Even more than any conspiracy theory.
Realy can't understand how you have found any connection between Bitcoin market situation and muslim religious celebration.
I would realy like to hear explanation how many muslims have sold how much Bitcoin exactly to influence the market to dump the price. Get serious!

[ubay]

Bitcoin has nothing to do with Eid. Bitcoin has decreased in price due to the balance of other coins because we know everything needs balance. Regarding bitcoin in banned on Google and Facebook is also a major factor about this price reduction, but it will not be not too long.

[tayecrypto]

I don't think  cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

[Tigorss]

Bitcoin has nothing to do with Eid. Bitcoin has decreased in price due to the balance of other coins because we know everything needs balance. Regarding bitcoin in banned on Google and Facebook is also a major factor about this price reduction, but it will not be not too long.

yes for this matter I agree any religious celebration will not affect the value of bitcoin and any major religion could have this value could be reduced because there is more gambling like gambling world cup today.

[KID_28]

I think it has nothing to do with the said event, and i don't think majority of bitcoin or crypto holders are from the Muslim group. Maybe it is just a coincidence, besides the market depends upon the reaction of the crowd, i think the fall of the market nowadays is due to the news about the bitcoin manipulation blurted out by some programmers and i think it didn't work though, cryptocurrency world is still standing strong.

[jcmansah7]

Well i beg to differ but i don't think it is as a result of the festivity of the Muslims. Cryptocurrencies are volatile and so their price can fluctuate at any point in time. Well if you are in a haste to sell some coins please hold on for a while because from crypto financial analysts green days will fall upon us in no time.

[gabmen]

I don't think  cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

Lol. This trend has been ongoing way before the ramadan season for muslims. It's funny to even think there's a connection whether direct or indirect. People are just trying to connect this decline to prettt much anything that's happening outside crypto

[glowing10]

I don't think  cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

This does not have to do anything with the EID. Infact market is being down now by last couple of months as it was 8k and then keep falling sometime and then rise a bit. So nothing new in this and festival as said rightly is not the reason. The reason what it could be is due to panic selling where people are not sure if it will fall further.

[etin06]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Well that might be a partial  reason for last weekend red market. We also witnessed similar thing during the Christmas and New celebration.  Let see if there will be a bounce from Tuesday.

[Nilda]

I don’t think that any holiday will ever affect the cryptocurrency market. The Chinese New Year passed without even making a dent. That’s close to 2 billion people, almost the same number as the celebrators of the current Muslim holiday. So please, stop making trading plans based on a holiday.

[damrianto]

the atmosphere of the crypto market during Idul Fitri celebration of Muslims is very quiet, because the traders are busy with their respective family events welcome idul fitri, so it could be possible market atmosphere can be quiet and without any transaction usually before Eid fitri come the market atmosphere enlivened by the people Muslims who want to transact ..

[icecream sandwich]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that those things are related because that is really dont it is pure coincidence for me because muslims are not gonna sell bitcoins or cryptocurrency in that day maybe some of them but that is not because of eid of the muslims that is because of their free will amd own reasons. There are eid every year but not everytime that day comes bitcoins are falling so that is coincidence do not make some excuse for the bitcoins holiday do not affect that price it is up to the majority of us.

[speedy963]

the atmosphere of the crypto market during Idul Fitri celebration of Muslims is very quiet, because the traders are busy with their respective family events welcome idul fitri, so it could be possible market atmosphere can be quiet and without any transaction usually before Eid fitri come the market atmosphere enlivened by the people Muslims who want to transact ..

I am just being curious how does the celebration being relevant in crypto? I know some of our brother and fellow muslims are using crypto but as far as i know it doesn't have any relevance at all. Aside from that let us respect the celebration, and let us not involve their religious belief in the economic problem. Ever since i have heard since then about them are almost negative at all, and it is like they are the ones to be blamed by every negative happenings all over the world, and even here? Oh come on. Let them celebrate peacefully.

[cosmoo]

That's very funny that you thinking like that
A year ago I thought that holidays can affect the price of Bitcoin too. But I began to monitor this and understood that cryptocurrencies market not that easy.

[Ineedtopee]

Lol I hardly doubt this is enough to affect the market value that much. Even if all muslim investors were to sell their crypto for gifts I'm not sure gifts would amount to that much. And also, I'm not too sure about other counties but over here muslims don't buy each other presents for eid, they gift  a little money to kids

[bloodyvio]

i do not think it has anything to do with Eid Mubarak of Muslim
market down due to investor interest began to decrease
fomo began to disappear, unlike August last year until January this year
it is the moments of fomo cryptocurrencies rising dramatically
and now fomo began to calm down

[Singbatak]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

The "Eid of muslims" is not the reason that the crypto is falling today. And we should not connect it. There are so many reasons that the Bitcoin price falls and I'm sure that's not it. This can be due to the dump of big investors who manipulate the price.

[yanixbtc]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that the Muslim Eid had something to do with the market fall. It has no relation to it because the bitcoin value is falling already and it just keeps that way even without the muslim celebration. That is the markets normal behavior and that is bitcoin’s norm. With all due respect to the Muslim society I don’t think it has in some way related to the market downfall.

[crypto360]

Reading all your replies i found one comment which really makes sense, which is muslims do have to to pay zakat(charity) which is 2.5% of their annual earning. Let’s think an example for a sec, if a person(whale)has 1000 btc he will have to pay 25 btc!!

Upto my thinking this is a strong case

No one has discussed about the zakat muslims have to give to poor and discussed my case i wrote here

[Nakakapagpabagabag]

I don't think  cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

Lol. This trend has been ongoing way before the ramadan season for muslims. It's funny to even think there's a connection whether direct or indirect. People are just trying to connect this decline to prettt much anything that's happening outside crypto

There are many reasons why bitcoin price decline but any religous thing is not part of it. For me, the main reason why bitcoin price drops is because of its volatility, it changes rapidly, unpredictable if its going to increase or decrease. Its price now is decreasing, so maybe later before the year ends, it goes up. Connecting any non technology thing on bitcoin is not making sense.

[Redhead5]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that the Muslim Eid had something to do with the market fall. It has no relation to it because the bitcoin value is falling already and it just keeps that way even without the muslim celebration. That is the markets normal behavior and that is bitcoin’s norm. With all due respect to the Muslim society I don’t think it has in some way related to the market downfall.

I would disagree too that Muslims celebration of Eid affects bitcoin downfall trends. Because even not yet celebrated Eid bitcoin value was declining already and this is not unusual behavior of bitcoin. Bitcoin was subjected already of volatility even without any holidays happened world wide. This is normal truth of bitcoin for being unpredictable and volatility in behavior as well.

[5ensei]

Muslim countries are not known to be big investors of bitcoin, and it was only quite recent that bitcoin was declared legal according to Sharia law. I don't think Eid has any effect on price at the moment, but perhaps it will in future

[Sandus_Cryptolover]

What? How on Earth can you tag the current red market trend to the Islam festivity? This is socially unfair and ungodly as well. Anyways I look forward to the market recovery in no distant time.

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

[ZZ8ZZ]

I'm pretty sure that Eid and Muslims has nothing to do with the market being down. People look for all kind of reasons why Bitcoin is dumping, but the reality is that there is so much manipulation going on, that you can't even predict what will happen after few hours in the crypto world. That's why you should take advantage now, because the market will not be like this forever

[zero714309]

I think this is not the reason,this is the direction a lot of bad news about bitcoin,the last is the matter of the exchanger of korea in hack,korea is a country that is very influential on the movement of bitcoin like the country of japan and also china.A few months is too much negative news and even 1 positive news still can not change the state of the bitcoin

[stynos]

The Eid celebration has nothing to do with the fall in price of btc just like every business there are times of highs and lows.

[Kimchu kuno]

The current drop is nothing to do with the Muslims its more on the manipulation of the whales. Let’s not connect every event to the fall of bitcoin or any other cryptocurrency remember that this market is drive more on the negative news and the weak emotion of a new investors.

As a mature personalities we should not blame Eid of Muslims causes of downfall of bitcoin. There are many negative news spreading  by haters some are doing manipulation example whales  they wanted that only few who's going to joined in order that all profits will goes to themselves. If this characteristics plenty in bitcoin maybe investors will retrieved thier investment we need to be friendly and kind be a giver not to count of what we received because in business we need to be patience.

[Aryadwipanggah]

I think Eid fitri is not a good reason why bitcoin prices are going down even though in one of the Muslim countries the Idul Fitri celebrations need big funds and maybe sell their bitcoin to have the funds in this celebration, but I am sure not to have a big effect on the bitcoin price in general.

[Nanashev]

The fall of Bitcoins has no relationship with the Eid Fitr celebration. I do not think any serious investor or bitcoin holder will love to see the coin just because of a festive season. If that is the situation then what will happen during christmas and easter? There are several  reasons that let to the fall of bitcoin, afterall the coin dropped before the celebration of the Eid of muslims. Lets leave muslims out of this please.

[alroys]

I think not, Muslims do not really like the excess. they will not sell their Bitcoin just to merayakaan, feast of Eid al-Fitr. I believe that, Muslims prefer simplicity.

[yvuj101]

it is possible that many bitcoin Muslim entrepreneurs sell their assets and make the bitcoin price down a bit. well, we know that so many very wealthy Muslim entrepreneurs, like the dubai people.

I agree with you, there are many Muslims around the world most of them are connected with business entrepreneur in this celebration of Eid  they focus on thier belief set aside all those transactions of economy after finished thier celebration we should prepare the price may goes up that's may bet.

[Ishiro5]

It most likely has nothing to do with that, it's a continuous perpetuation of the remnants of the FUD that has been created affecting buying and selling attitudes. If Eid were to be the reason, i guess we would not have seen such an epic rise in December due to the Christmas then too.

[Dainye_dyep]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Why does people out here are just taking all the recent scenarios having the connection with the continuous drop of Bitcoin price? Although it is do really possible that Muslims the uses crypto might be doing such thing, I think it is not necessary to include their celebration to be the topic of this thread just to put the blame why does the price is continuously going down. It is just that many groups of people around the globe maybe including the Muslims are just doing their thing of using their crypto for their own purpose that even it is not related to their Eid celebration.

[jpespa]

I don't think so because as far as I remember that some muslim people said that bitcoin is banned to them so if it is banned to them in the first place then none of them can use it therefore whether they have their holidays or not they will not affect bitcoin price. The reason I can think of is that some people just like to sell their bitcoin to avoid further loss if the price fall down again.

[ModGirl]

Bitcoin has nothing to do with Eid. Bitcoin has decreased in price due to the balance of other coins because we know everything needs balance. Regarding bitcoin in banned on Google and Facebook is also a major factor about this price reduction, but it will not be not too long.

yes for this matter I agree any religious celebration will not affect the value of bitcoin and any major religion could have this value could be reduced because there is more gambling like gambling world cup today.

Well EID is nice and good celebration which has no bad effect on the price of bitcoin, infect I think celebrations makes price of bitcoin even more higher as people use bitcoin to send gifts online to long distance love ones so they use bitcoin for this purpose, according to me bitcoin gets high whenever anyone celebrated any custom of any kind of other celebration religiously.

[Gatot84]

There are several factors that affect the current bitcoin price. In the last year in the middle of the year the price fell the same as this year. Many people sell for their holiday needs when Muslims celebrate the day of victory for their relatives away from home, so they exchange bitcoins with banknotes to share with their siblings. That's just a small effect only bitcoin prices will return to normal and increase as the previous year.

[Dava.Dina]

Eid is a sacred and sacred day for Muslims to celebrate.

In Idul Fitri they forgive each other.

This is an important moment for reciprocity and we also apologize if the words in this forum are wrong.

So Eid and Muslim have nothing to do with falling markets.

[bilal_jan321]

Crypto market is down since the start of this year and I don't think Eid festival has something to do with the current price decline. BTC went down to 6611 USD on 07 Apr 2018 (source).
Just HODL and don't worry. We will see bullish rally very soon.

[chipzeru]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

In my opinion, eid mubarak has nothing to do with the market crash because muslim countries or countries with huge muslim population are not influential countries in cryptocurrency. When Bangladesh and Indonesia's government banned bitcoin, it didn't affect the market at all. Also their religion teach its followers to be more concerned with the afterlife than the real life so that's why muslim countries are not as advanced as western and east asian countries, not much contributing to the world including cryptocurrency.

[morex0123]

The Eid celebration has nothing to do with the fall in price of btc just like every business there are times of highs and lows.

I never think muslim celebrations can negatively affect the market. Some people keep blaming on something when there's a downtrend of price, not knowing that it is just only a normal market trend. Fluctuations of market price is only a normal behaviour in crypto business industry.

[Nonie]

maybe it could be but I think it has no big effect. the biggest factor why the market went down I think due to the negative issue of hackers going on in korea

[airdnasxela]

Obviously,  no,  there is no connection from the Eid of Muslims to the downtrend of bitcoin.  Just watch or study the indicators in the market. In addition,  this downtrend has started even before the Eid of Muslims,  it started wayback Chinese new year. Don't blame the Muslims to this downtrend. 

[dedens212]

I think there is no connection between the feast of Ied Fitri with the decline in Bitcoin prices. It is not fair if the decline in the price of Bitcoin is associated with the Muslim holiday. It's just a coincidence, when the Bitcoin chart goes down, the time coincides with the feast of Ied Fitri.

[ipanks]

I don't think so because Bitcoin does not depend on what is happening in the real life or one event like Eid of Muslims. maybe it's because many people selling their bitcoin because they really need that money and it pushes the price to get down. I think after this downtrend, the price will increase higher and people which selling their bitcoin too early will regret this unless they can buy back bitcoin while the price is at the lower price.

[wisdomcn]

It's possible because this is one of major ceremony in Islam, and Muslim do celebrate it in a big way.  Many will definitely need money to celebrate it which will lead to some people selling their coin.

[Gotumoot]

maybe it could be but I think it has no big effect. the biggest factor why the market went down I think due to the negative issue of hackers going on in korea

Eid of muslim is nothing to do with the down of cryptocurrency. Any religious things is not connected to crypto currency. The reason why the market is down is due to the volatility of crypto currency, and many more. Dont blame the eid of muslim for the crypto market down, it will cause another problem, maybe the muslims will be against to crypto because of the wrong speculations.

[BulbaLord]

I dont see that eid of muslims are connected to the market down . If market down at the same day of eid of muslims i think its only a coincidence.

[badungs]

I think the current market price drop is not due to the day of Eid al-Fitr. and I think that rising and falling prices are not caused by the great day of a religion. I further believe that the decline and rise in prices is caused by negative news about bitcoin. is not the price down from a few months ago. we must realize that the nature of all cryptocurrencies is fluctuating, like the waves in the ocean that occur because of the wind. in cryptocurrency I think the wave is due to positive or negative news about cryptocurrency.

[kasurnya]

I think the fall of bitcoin prices has nothing to do with Eid Mubarak. Bitcoin is too valuable to waste as a means of payment for the cost of Eid.

[rightway00372018]

I think the fall of bitcoin prices has nothing to do with Eid Mubarak. Bitcoin is too valuable to waste as a means of payment for the cost of Eid.

I think the falling cryptocurrency market is not related or affected by any muslim religious activities because most of muslim countries did not not supporting the use of bitcoin.

[aezotxmb]

I don't think this is directly related to the fact that most of the purchasing power in the encrypted world is in North America and East Asia.

[Demughni]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

No, I think with reason respect to Muslim celebration has nothing to do with Bitcoin prices. The bitcoin price down is a market correction. I believe the market will go up soon.

[ipinkang]

Iam not agree if Eid of moslem make bitcoin and altcoin the price down because moslem  sell their asset, more make sense bitcoin and altcoin the price down because exchange on korea hacked abd loss their asset .CMIIW

[Dudeperfect]

To be honest, I don't think that any festival has anything to do with Crypto market because we don't have users from specific religion or continent. Bitcoin and cryptocurrency market is consists of users across the globe so we won't see any collective influence unless and until there is something that will affect every one everyone from the Bitcoin users community. In other words, Crypto market is still immature but still, it won't respond to any specific incidents.

[goodfortune2018]

To be honest, I don't think that any festival has anything to do with Crypto market because we don't have users from specific religion or continent. Bitcoin and cryptocurrency market is consists of users across the globe so we won't see any collective influence unless and until there is something that will affect every one everyone from the Bitcoin users community. In other words, Crypto market is still immature but still, it won't respond to any specific incidents.

Agree and its really different religious activities to investment and i still believe that the market fall is caused by many people trying to destruct the image of bitcoin in the world market.

[ballerin and giroud]

It's just a downtrend course, someone who has an investment will intensely look at the price developments and see the latest information. So they will know the drastic price drop and they make the same decision to sell their investment. Crashing the price of cryptocurrency is not only happening on this day alone, before there has been a great crash and this incident will give effect to the investor.

[ucingucingan]

not because of Idul Fitri holidays the price of bitcoin has declined, actually the downtrend has started to show in early 2018 this is one of them caused by very extreme price increase at the end of the year 2017 which trigger many bitcoin owners to sell their bitcoin in the hope of getting many profits, plus bad news that befell this bitcoin cause a lot of bitcoin holders to do panic selling for fear of loss, and this became the domino effect until now

[Ferry22]

it is possible, because the price of Bitcoin falls as bitcoin supply increases and demand decreases, Bitcoin's price will fall. which is the question now is, whether Muslims at this Idul Fitri holiday many who sell their Bitcoin to celebrate Eid al-Fitr. if so, it can be ascertained the feast of Eid al-Fitr Muslim people currently affect the decline of Bitcoin prices.

[NIuok]

Does Eid al-Fit affect Bitcoin? If this reason is true, can I think that Christmas, Halloween, Chinese New Year can all affect Bitcoin? The price of Bitcoin is greatly influenced by market supply and demand relations and policies, but I don’t think any festival can affect Bitcoin.

[carlisle1]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

What?sensitive on what reason?you noob just posting without proper knowledge about the topic because OPs question is related to whats happening and i see no wrong about muslim brother withdrawing bitcoin to fiats just to spend on their Very Important occasion that only celebrates every year

Yes i agree about the affect of eid celebration to the bitcoin dumping and now its over hope we can recover again even just smal percent

[budi691]

more or less, I believe it affects the movement of bitcoin values. although not too big. the less is still the same as a big day like Christmas or Chinese New Year.

[alvinmtp]

I have to say that this is the one of the most stupid explanations about Bitcoin price dump that I've ever heard. Even more than any conspiracy theory.
Realy can't understand how you have found any connection between Bitcoin market situation and muslim religious celebration.
I would realy like to hear explanation how many muslims have sold how much Bitcoin exactly to influence the market to dump the price. Get serious!

[gentlemand]

Um, why would it be?

There are no muslim majority countries with a significant place in crypto markets. It seems to be very hard to get a straightforward declaration of whether crypto is cool or not with Islamic principles which isn't going to encourage people to pile in.

It's an irrelevance.

[royalparade01]

The current drop is nothing to do with the Muslims its more on the manipulation of the whales. Let’s not connect every event to the fall of bitcoin or any other cryptocurrency remember that this market is drive more on the negative news and the weak emotion of a new investors.

It's nothing affects the market down due to Eid of Muslims. I can't figure out if there's a connection of that event in any cryptocurrencies. We should take a risk that situations and we always think positive.

[Abete]

I have to say that this is the one of the most stupid explanations about Bitcoin price dump that I've ever heard. Even more than any conspiracy theory.
Realy can't understand how you have found any connection between Bitcoin market situation and muslim religious celebration.
I would realy like to hear explanation how many muslims have sold how much Bitcoin exactly to influence the market to dump the price. Get serious!

If there is a theory and conspiracy in value movements or bitcoin markets. I think irrelevant, bitcoin can survive today not because of theories, conspiracies or religious issues. Bitcoin can still be trusted by the market because of its breakthroughs and the technology it has.

[ngamuk tok]

I think the fall of bitcoin prices has nothing to do with Eid. The bitcoin value is too large and I think, it is not possible in a week of Eid celebrations to spend the sale of one bitcoin.

[vickybitcoin]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

You have a point but its not far from the truth that muslims who has bitcoin investments might use some of their money from the cryto space due to this celebration because it is important to them. But yes if this happens for sure its not the reason why the price will deteriorate.

[lodcoling]

With due respect to the religious festival of Muslim, I mean EID, I want to say there may no correlation with the EID. But one think can be said that the Muslim user of bitcoin may sell the bitcoin for purchasing EID gift and delicious food for the EID. The sell volume may increase for this reason. But this portion will not be very significant. This may a fraction of percentage. So there is no effect of EID. The price down due to normal market effect.

[CHENIEN]

Mostly when there was a big religious events in our countries, we can noticed that cryptocurrency price especially bitcoin would down their price market value, so I think there was a possible connections between religious events celebrations and cryptocurrency market situations. Knowing that the main reason why cryptocurrency prices are dropping because of demand and supply situations that high percentage on selling rather than buying, and we all know that big events are spending a lots of paper money that's why those people are converted their crypto coin stocks into real paper money for the purpose of the special days celebrations.

[Kotone]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I don’t think that a religion is the sole reason on why we think that there is a down time for the cryptocurrency market. I can’t think of a possible factual reason in which to point that there is a correlation to this. What I think is that this is a part of bitcoin, a side effect of its supposed decentralization and we can either use it positively and try to buy as much as we can as an investment until it gets stabilized or we drop all our cards then we fold.

[Mhd-Bobbi]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

yes I agree with your statement. has nothing to do with the festivities that cause bitcoin prices to fall.
news I found.
News from the US Securities and Exchange Commission (SEC) which investigates Bitcoin and other cryptocurrency currencies is the cause of the decline in Bitcoin prices on Feb. 28 yesterday.

[macartem]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Perhaps this does not affect the market. Because now very large volumes are sold by all holders of bitcoins

[Kayum10029]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

no no it is a scam news. religion can't bring a market down.please be control. Muslims and eid festival have no effect on bitcoin increasing and decreasing. it is universal market always pumping and dumping in its own way.

[bestbitcoinexchangesguide]

There is no relation of Bitcoin price to eid and it is ridiculous if someone even this that

[Troysen]

C'mon man, what does religion has to do with BItcoins, even if Muslims had the largest stakes in Bitcoins. What could they be probably doing that can cause dump? Nothing, it's only a holy month that Muslim dedicate to special prayers. Everything else goes on as usual,. Eid is just a celebration. It's like saying coin. Value drops because it's Christmas

[osasshem]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

The Muslim celebration has nothing to do with the deep in the price of bitcoin nor any crypto currencies. The deep of crypto started earlier this year, lots of celebration has taken place before now and at December 2017, the price of bitcoin and all crypto where at a good rise. The Christmas celebration observed in the whole world did not affect crypto. There is no relationship between bitcoin/crypto currencies and religions, know that.

[agiskasep]

it maybe happen but some people know it and grab bitcoin in the market with cheap price,be smart man then big profit soon.

[cryptokingdom]

So many factors are contributing to the depreciation of price of cryptocurrency, the market started going down long before Eid of muslim started. Eid of muslim do not have anything to do with cryptocurrency market.

[Yantoaja]

It may seem like this is a bit influential with the conditions of Muslims around the world where they need money to celebrate a big day like Eid Mubarak.

[Old God]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

agreed with u, and as i know, all ppl love money, dosnt matter what religion they believe or dont believe in anything

[shafi alam]

there is no relation with eid and crypto. And so many thing happened before eid. Many things happening right now.

Price of bitcoin, altcoin too much rising,  
its need price correction.

[crypto360]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

What?sensitive on what reason?you noob just posting without proper knowledge about the topic because OPs question is related to whats happening and i see no wrong about muslim brother withdrawing bitcoin to fiats just to spend on their Very Important occasion that only celebrates every year

Yes i agree about the affect of eid celebration to the bitcoin dumping and now its over hope we can recover again even just smal percent

Thanks atleast one person have understood the reason why I posted this

[MMA]

I think there is no connection between the feast of Ied Fitri with the decline in Bitcoin prices. It is not fair if the decline in the price of Bitcoin is associated with the Muslim holiday. It's just a coincidence, when the Bitcoin chart goes down, the time coincides with the feast of Ied Fitri.

But i think that as there is a big number of Muslims who are related to bitcoin, so if they have quit their bitcoin activities for few days just like Chris-miss, so chances are that the market has been disturbed a little by them. I think after two days when their Eid holidays will over they will again start their bitcoin activities and hopeful the market will also get some support.

[noisybit]

in my opinion is not arena  causing bitcoin prices fall because the current market is in the period of ups and downs so for that cause the fall of bitcoin prices not because of it

[eashikde]

I believe that the market will not give such a drop only in the case of one news, but just at the given moment the time is like this. The calm before the storm. Therefore, a drop in this amount is a set of negative news and factors.

[calum holding25]

I think that the downturn market has nothing to do with the Muslims celebration of Eid. The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general. 

[Xising]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

With due RESPECT, Muslim celebration is no relation on the Bitcoin price, please read the indicators why Bitcoin price goes up and goes down, you posted question is a bit sensitive one to post on this treed. Remember Market is Volatile, anything can happened at any given time, market react base on the Volume of investment put in by numbers of investors in the trading market and had NO RELATION on this Celebration even if we consider that they use Bitcoin to buy gift or what ever it is just a fraction of the market cap.in  trading market would be posted.

Although I mostly agree with the idea that it has no correlating effect, and the occasion being celebrated by our Muslim brothers right now could not have anything to do with the decreasing value of coins in the market. I think that cryptocurrency having different factors that affects its value, may be affected by anything even this event that seems unrelated at all. So even if it is not big, there might be some little effects.

[hardrockstar]

No one can change in the market down due to Eid of muslims because only the exchanges knows the life of bitcoin.

[TahuDiniHari]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think it can happen, surely the market is a big influence. maybe some of our Muslim friends are selling some bitcoin they have to welcome a happy day (ied) with their family and loved ones.

[fathoni20]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

[alex M]

I dont see that eid of muslims are connected to the market down . If market down at the same day of eid of muslims i think its only a coincidence.

Yes, I agree. It is not justifiable that a downtrend in the market is caused by a muslim religious celebration. I think it is due to negative news about crypto or bitcoin. But normally crypto market price is greatly affected by low demand or many are dumping their coins.

[cmaxwell]

from experience, i have never heard it that any religious celebration can affect the market value of crypto currency. it is a wrong conception to now think that muslim celebration of EID can affect the market value of bitcoin. please lets desist from this act of wrong conception about bitcoin.

[SaiWAFU]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

The question is plainly idiotic as well as the reason that made you contemplate on that question.

Blaming a religion because of bitcoin only spreads hate and false information.

And to answer your question, no it's not. Bitcoin has been falling for several months now, I don't think Eid lasted that long.

[kojoannan]

I don't see why anyone will make such comparism with a religious festival and that of financial asset. A big NO. Bitcoin has been down far before the Islamic festival.

[JohnDcosta]

It is not true, bitcoin and celebration are not related to each others.

[nayeel]

I think there is no relation for Bitcoin price falling in relation to EID MUBARAK.because not only muslim but also all religious people with in bitcoinz  every nation or nation has its own traditions and holidays. This does not mean that the crypto currency market will never rise.

[sarajahon]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Yes, Off course its affect market because of Muslim fest.
Here is related info: https://coinpedia.org/news/mosque-bitcoin-donations-ramazan/

[Alifal]

I think there is no relation for Bitcoin price falling in relation to EID MUBARAK.because not only muslim but also all religious people with in bitcoin every nation or nation has its own traditions and holidays. This does not mean that the crypto currency market will never rise.so carefully hoped it is no mettar.

[ys fs]

do not corner Muslims with decreases in bitcoin prices, bitcoin prices have started to drop dramatically long before ied started,

[kopamo]

are you mad, Bitcoin and Eid  are no relationship with each other Bitcoin price failing other reason not for Eid  and Bitcoin price down is common matter

[Futurm]

I don't think there's anything in Muslim eid and bitcoin prices.
Unless you think they're going to sell bitcoin for Muslim eid, I don't think that's realistic.

[mohammedhwang]

I believe that the market will not give such a drop only in the case of one news, but just at the given moment the time is like this.The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general.

[radjie]

the price movement of cryptocurrency is based on the demand, there is a possibility that a large Muslim celebration that is taking place can affect the market price movement because more sales demand than purchase because many people convert cryptocurrency to local currency. as we know the celebration of the Lunar New Year and Christmas in the past the price movement of cryptocurrency also tends to lower the price at that time

[Angna27]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think no, I monitor the market since last quarter, but the market is still low or red, so i think Eid of Muslim is not related to lower the value of altcoin. And I think many of muslim know about bitcoin, but again its not related to red the market. Market down because many of investor dump the market to buy more altcoin in cheap price.

[ipanks]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think no, I monitor the market since last quarter, but the market is still low or red, so i think Eid of Muslim is not related to lower the value of altcoin. And I think many of muslim know about bitcoin, but again its not related to red the market. Market down because many of investor dump the market to buy more altcoin in cheap price.

yeah, it's not related and the market still down in a few weeks ago so it is not because of Eid. just be patient for a while and stay calm. I am sure that after this, the market will change into green and many new investors will come to the crypto. I think people still getting panic because, in the last week, the price is down for more and makes people selling the bitcoin to get their money back.

[DavidCallahan]

I will hold it till the value reached in the good position.

[titan20]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Generally, I do not think it is serious to say that muslims are responsible for the decline of the crypto market. There are many reasons or prerequisites for the downturn in the market, but this is not one of them.

[MbakNarti]

I do not think it's a relationship with those who make Eid because that's their right if they want to sell all their virtual assets just like you want to buy a car but you have to sell your stuff just as they would sell all their stuff have to be able to make their family happy

[Cryptocb]

Bitcoin falling has been a serious thing in a coin market cap platform and other exchange, i think is not because of aEid Muslim, because bitcoin is still on session of investment to buy, not selling time.

[Chacon994]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I do not think this is the reason why market prices have fallen in recent days. The rise and fall of the market is a normal thing that we see everyday. We must not blame the Muslims

[cech makey1]

I hardly doubt this is enough to affect the market value that much. Even if all muslim investors were to sell their crypto for gifts I'm not sure gifts would amount to that much. And also, I'm not too sure about other counties but over here muslims don't buy each other presents for eid, they gift  a little money to kids.

[sniper23]

Muslims are more likely to be used as a scapegoat on terrorism-related events.

This is the time that someone blames the for Muslims for cryptocurrency crash and their eid.

I don't think we need a scapegoat at this point. Like we already have one.

 All I can think is whales that are manipulating the prices.

[techte7]

While it may be flattering to the sizable percentage of the muslim coin holders that are out there to consider that their holiday spending would have an effect on the worldwide BTC market. Muslims in general do not have a culture of gifting like the westernized commercialized type of holidays. The only gifted holiday is limited to new clothes given to mostly children. Toys are not much of a traditional part, but you may find more for sale at this time. During Ramadan, they might splurge on making extra food. Another thing about the entire month of Ramadan is that everything slows, productivity and subsequently the economy. Even this slowing isn’t quite enough to make a blip in the cryptoworld. The Eid that I assume you are referring to is the one right after Ramadan, where the one thing they spend on, save for, and often struggle to purchase.. Is a goat to slaughter. So, in a sense you are suggesting that BTC is taking a dip due to the buying of goats.   

[jajanggsr]

well i think cryptocurrency market is not connected to the eid of muslim they might be coincidence and im not surprising with the market now because my opinion this month will be dept and there is no connection from the Eid of Muslims to the downtrend of bitcoin.  Just watch or study the indicators in the market. In addition,  this downtrend has started even before the Eid of Muslims,  it started wayback Chinese new year

[Romeotom]

Absolutely With due RESPECT, in my opinion no have related about Muslim eid day and about bitcoin price.bitcoin price failed already start in this year 2018. It's not new matter , coinmarketcap huge down in this year.

[mrmanyaks]

I do not think there is any relevance,
a small amount may have been withdrawn from the market for shopping, but it has not even affected

[HudiBaba@06]

I don't think Eid is the reason for the market going down. and we should not blame Muslims precious Eid festivity either. as EID is all about meet and greet among their families and friends and I don't think Muslim's would be just dumping their Bitcoin as it's their festival to gift their loved ones. and moreover market has its own terms which we cant predict on what perfect timing the market is going to fall. So, there might be a big dumping of Cryptocurrencies done right at that time which we should not mistake Muslim's and their precious festival EID.

[Sarastiche]

I believe strongly that the market correction of  is still ongoing, the effect of the  EID celebration is just a minute effect on the market, thou festive season such as the china festival, christmas and the new year festival always have a major downward effect on the market, this is mainly because the season always fall to the end of the year and everyone globally always take out time for holiday, travelling and celebration, We are sure to experience the bullish raid soon.

[bering]

the market of cryptocurrencies were never sleep even it's holiday or not and bitcoin users not dominated by moslems people because the people who use cryptocurrencies are come from various religion with various countries so in my view there is no related between downtrend situation and big day from moslem people

[lutfor]

No it's not true at all. Bitcoin price was down from long time ago. So in this sense there is no relations between bitcoin price & Eid. On the other hand price up down is a part of our daily cryptos life. So there is no problems & it's normal situation. I hope bitcoin price will recover it's previous figure within very short time.

[eolitic]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

What?? what are you talking about? do you think it's funny or clever? religion is far from crypto, unfortunately stupidity and disrespectful behavior is everywhere.

[daturit]

I think the market turns red in the last few days is not caused by it, maybe FUD is the main cause
Some mainstream media horrendous public by creating FUD from little cases like Coinrail Hack and the investigation of four major cryptocurrency exchanges, new investor confidence is broken because of this FUD and panic selling

[maxreish]

I don't see any connection with the "Eid" of our muslim brothers and sisters around the world why bitcoin price go down,  one big reason why bitcoin value in the market collapse, because of the bad news coming from various countries about it.

[judejude]

Your logical thinking is invalid. I do know that there will be another comeback on it in the market price in the next few months.

[Malaya]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

How come the price of bitcoin was related to the Eid of Muslims? The red market days of cryptocurrencies cannot be associated Eid or any celebration around the globe. This is funny yet annoying. Asking for the obvious answer.

 

Your logical thinking is invalid. I do know that there will be another comeback on it in the market price in the next few months.

It's not even logical.

[sevenonetwo]

Yes, it might just happen. When Eid so many people who need more money to celebrate. When many people are in need of money and maybe their savings are just bitcoin then they will sell their bitcoin. When many people do this then the bitcoin price will drop dramatically. This happens because a lot of people are selling bitcoins rather than buying them so there is no balance between offering and demanding on bitcoins. This imbalance certainly makes the price also unstable. But, usually after the Eid, many people will buy bitcoin again when their finances are stable. They will look for more income to be able to invest again.

[addeqt]

Nice idea, are you just comparing it to Christmas time. As far as I knew Eid al-Fitr is the end of the religious holiday. It is not comparable to Christian celebration of Christmas. It is more likely as maud Thursday and Good Friday. Those events are not a gift giving event, and there is no reason that Muslims will spend their bitcoins to buy gifts and give it to their loved ones. If they spend bitcoins, it is more probably spend on traveling to the holy land.

[blazsqd]

Idul fitri has nothing to do with the market price down or I can say cryptocurrency market is not connected to the eid of muslim. As we know and its always happened, the market is sometimes up and sometimes down. There are lots of factors that bitcoin price falls down, Bitcoin dumpers, fake news about bitcoins are the reasons why Bitcoin have a bad price. So once again I don't think so.

[rexxarofmoknathal]

I think the market turns red in the last few days is not caused by it, maybe FUD is the main cause
Some mainstream media horrendous public by creating FUD from little cases like Coinrail Hack and the investigation of four major cryptocurrency exchanges, new investor confidence is broken because of this FUD and panic selling

Exactly. Just because Eid happened around the time the market had started to go down is shear coincidence. I do not think Eid had anything to do with it, but simply its the negative press and downturn on investor confidence

[shafi alam]

I think there is no connection between the feast of Ied Fitri with the decline in Bitcoin prices. It is not fair if the decline in the price of Bitcoin is associated with the Muslim holiday. It's just a coincidence, when the Bitcoin chart goes down, the time coincides with the feast of Ied Fitri.

But i think that as there is a big number of Muslims who are related to bitcoin, so if they have quit their bitcoin activities for few days just like Chris-miss, so chances are that the market has been disturbed a little by them. I think after two days when their Eid holidays will over they will again start their bitcoin activities and hopeful the market will also get some support.

I'm a Muslim also,  before eid I withdraw some bitcoin and sold it. and those who Muslim and involved with bitcoin they also would do the same thing.  but this is not effect for bitcoin as my opinion.

[BitRentXx]

I think not, although Muslims celebrate eid mubarak but bitcoin is too valuable for them to spend in a celebration.

[jamesmarkx]

i thought so too in the beginning but now it seems theres some other reason as there hasnt been much recovery since eid has ended, i think the fuel(new money) is slowly ending and we need some big news to make new money enter crypto then we can see some rise other wise it may float in 5-8k range for some months and 10k in best case scenario

[Daniel91]

In my opinion, market is down because of a few factors.
First, we have a lot speculation at the market from big investors.
Also, we had recently many bad news and rumors about bitcoin.
All this together created negative feeling in the market and price drop.
I don't think that Eid of muslims was to big and important factor here.

[ishinn99]

I don't see any connection with the "Eid" of our muslim brothers and sisters around the world why bitcoin price go down,  one big reason why bitcoin value in the market collapse, because of the bad news coming from various countries about it.

Yes you are right, this is because of the continues bad news happenings involving bitcoin, also I think it is all because of the big whales that never stop manipulating the price of bitcoin.

[Borisov]

Read the news-how many positive and serious events. Why not grow? Yes, everything is simple, large players need cheap bitcoin for purchase (at the same time and drive out weak hands) , very soon we will see the volumes.  we observe and if there is a Fiat, then we do not buy a lot, not at all , but in parts. since it is not known how many will reduce the price, it is possible that bitcoin and 2500 will be able to see, and then a sharp rebound.

[1goldhunter001980]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think the downfall price of bitcoin was not influence by muslim religious activity "Eid of muslims" because even before cryptocurrency market already dropping.

[market-beta]

if I think the price of bitcoin down is not just the feast of Eid al-Fitr Muslim. but also a long national holiday factor. because many are selling their assets for a road trip with the family .

[niteroy]

Now it is difficult to say unequivocally, because the prices in the market are heavily manipulated, but I believe that this is not so important, because the adoption by governments of Bitcoin and other crypto currencies is much more important, which will expand its scope and increase the community. After this, it is predictable and the price will go up and the panic will change for a fuss.

[SeVenlast]

This has nothing to do with Muslim celebrations this month, it's a bit strange to me.

[dartvaider]

I have to say that this is the one of the most stupid explanations about Bitcoin price dump that I've ever heard. Even more than any conspiracy theory.
Realy can't understand how you have found any connection between Bitcoin

[ngefek berat]

Most likely its main factor like that because during Eid of muslims the majority of need money so with the sale of assets simultaneously lead to more turbulent market and the impact that will arise very large later but traders must remain optimistic that in the future price will also increase.

[Tuznalinz]

The Eid celebration has nothing to do with the fall in price of btc just like every business there are times of highs and lows. 

[royal slave01]

For me I think the market fall down is not cause by muslim activities instead it is manipulated by some people want to buy crypto in low price .

[ajpandey]

Thank you for the explanation.  It really helps the ones who are interested in Learning about Bitcoins. Am interested in Learning about bitcoin and Crypto trading, So I think this forum would be a great resource for me.

[F.I.L.F]

whow this really has nothing to do with the market price causing it to be down, this is very disappointing, I as muslim still be patient on this.
it's better we do not connect every event with the fall of bitcoin. the main reason why the price of cryptocurrency decreases because of demand and supply situation which is a high percentage on sales rather than buying

[Thatsit]

Yes, for a festival people are very unimaginable, that is, the cost is greatly increased, so the cost is very high. And at one stage the demand for more money increased. It's not just for Muslims but for all types of religious people. But for this reason the market can not down as it happens. There are some systemic reasons behind this.

[S.R Rikto]

Bitcoin prices are no relation, why Bitcoin goes up in price and reads down the index, you post a question this treed post is a bit sensitive one. Keep in mind that the market any time does not happen, the market investors by number of markets, the investment amount is based on the reaction to the reaction occurs and celebrate any relationship, there is, even if we consider that they Bitcoins to use the gift or it's just the market cap is a fraction . Will be posted in the trading market.

[cryptoblue77]

I don't think so, it has nothing to do with the muslim's religious festival Eid. As bitcoin is not widely used in muslim countries, cryptocurrency market entirely depends on China, India, and other developed countries.

[nunibanuni]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Hello, we are both newbie here in this forum but i dont get how did you even think that Muslim Ramadan is the caused of this market going down. Well let say you are correct about them wanting to give their love ones a gift, but do you think that they will withdraw all their investment just because of Ramadan? I do believe that Muslims are also in cryptocurrency but your idea never touches my mind.

[Bellator]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

That is not the reason why the market goes down.If bitcoin was entered by the muslim community,their Ramadan has no relation with it.Bitcoins votality is inevitible,corrections happens and then it suddenly pumps up and its very natural to see this bearish market because theres always ups and downs in this cryptocurrency platforms.

[kemonojim]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I think not, that Muslim celebration has nothing to do with Bitcoin prices, because the market reacts on the basis of the Volume of investments entered by some investors in the trading market. They use Bitcoin to buy gifts or what ever it is only a small part of the cap market. it will not affect the bitcoin price.

[Vineeta2october]

It is still bearish market, who will we blame now for this?
Market was down because it was part of the market cycle. It goes up and down and then maybe there were some market manipulations. Nothing to do with EID.

[other_slides]

What are you talking about, this does not affect the price of bitcoin and the price of any other cryptocurrency. There are more significant events that affect bitcoin and which really have an impact on it.

[Transformbitz]

Not really sure about that some muslim country adopted blockchain technology but in this case of EID holiday i'm not sure if they had an impact. Well if it's a regular holiday like Chinese New Year then probably there is a big impact in the society specially cryptos.

[inspirone1]

I don't think that some particular group of people can cause the 6th in the world by capitalisation market to fall down, in my opinion the reason was preventing of institutional money to come.

[LuciferEveningStar]

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I do not think that eid of muslims is connected to cryptocurrency, people today are preferring to sell their coins due to fud or somehow they are pressured so they are panicking to sell their coins.

[St4yInTh3D4rk]

Market is still down even after the Bakrid,

I don't think there is no relation between the prices and the festivals maybe we can say that they will cash out their bitcoins to purchase for the festive things but is that makes the prices down to this level?

[TokenForUs]

why should i agree to your opinion? its too dumb to judge current market situation or the falling price were caused by Eid of Muslims. even they have to buy gifts or anything it doesnt mean all of Moslem had to sell their bitcoin or cryptocurrency, for your additional information, we dont have to spent a lot of money to celebrate this Eid, only a person who have a clear sign from only a matter of time.