Is market down due to Eid of muslims?

[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.