Is market down due to Eid of muslims?

[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

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[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!