Is market down due to Eid of muslims?

[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.