Chacha1000
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June 15, 2018, 10:17:06 PM |
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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
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PacePay
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June 15, 2018, 10:21:41 PM |
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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. |
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charlzyeby
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June 15, 2018, 10:27:38 PM |
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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.
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Hazaki
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June 15, 2018, 10:30:11 PM |
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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 .. |
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bitterguy28
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★Bitvest.io★ Play Plinko or Invest!
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June 15, 2018, 10:39:21 PM |
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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. |
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PacePay
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June 15, 2018, 10:49:44 PM |
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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. |
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300pips
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June 15, 2018, 10:56:39 PM |
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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?
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Google (http://www.google.com)
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neya
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June 15, 2018, 11:08:43 PM |
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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.
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Kelvinid
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when lambo...
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June 15, 2018, 11:13:19 PM |
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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. |
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ivrynx
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June 15, 2018, 11:21:36 PM |
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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.
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neliawesome
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June 15, 2018, 11:21:48 PM |
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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.
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sammyp
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June 15, 2018, 11:31:16 PM |
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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.
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azhariusman1981
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June 16, 2018, 01:10:42 AM |
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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.
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Olafs
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June 16, 2018, 01:18:02 AM |
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Yes, I have an uncle, he is a crypto trader, he gives allowances to his relatives using money from bitcoin.
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crypto360 (OP)
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June 16, 2018, 01:29:59 AM |
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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 |
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Boldcom
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June 16, 2018, 02:07:34 AM |
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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. |
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roshanface123
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June 16, 2018, 02:25:02 AM |
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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. |
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cryptojaani
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June 16, 2018, 04:54:12 AM |
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I don't think thats the reason.
By the way 'EID MUBARAK' to everyone.
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cryptomichael87
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June 16, 2018, 05:53:21 AM |
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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.
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chidrawarster
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June 16, 2018, 06:09:54 AM |
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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.
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