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Author Topic: Is market down due to Eid of muslims?  (Read 937 times)
Helex
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June 15, 2018, 05:45:10 AM
 #21

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.
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SMD.Shuvo
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June 15, 2018, 05:51:02 AM
 #22

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
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June 15, 2018, 05:54:42 AM
 #23

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
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June 15, 2018, 05:55:58 AM
 #24

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
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June 15, 2018, 06:00:43 AM
 #25

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.
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June 15, 2018, 06:08:37 AM
 #26

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.

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June 15, 2018, 07:08:15 AM
 #27

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

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Jeffpod
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June 15, 2018, 07:34:26 AM
 #28

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.
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June 15, 2018, 07:47:45 AM
 #29

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.
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June 15, 2018, 07:48:40 AM
 #30

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

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AliMan
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June 15, 2018, 07:58:37 AM
 #31

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
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June 15, 2018, 08:00:21 AM
 #32

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.

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gabbie2010
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June 15, 2018, 08:00:44 AM
 #33

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.

       
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taranbam
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June 15, 2018, 08:07:01 AM
 #34

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.
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June 15, 2018, 08:10:08 AM
 #35

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
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June 15, 2018, 10:27:53 AM
 #36

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
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June 15, 2018, 10:47:18 AM
 #37

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

someone else had been posting on my account for over a year; Every post from January 10 2017 to June 18 2018 is NOT ME
Whoever this person was that got access to my account, felt the need to shill something called "bidium" in my signature
very surreal. is this normal? the internet is full of crooks... watch out
hardtargetbtc002018
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June 15, 2018, 10:53:13 AM
 #38

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
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June 15, 2018, 11:17:21 AM
 #39

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
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June 15, 2018, 01:59:21 PM
 #40

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.
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