Is market down due to Eid of muslims?

[noisybit]

in my opinion is not arena  causing bitcoin prices fall because the current market is in the period of ups and downs so for that cause the fall of bitcoin prices not because of it

[eashikde]

I believe that the market will not give such a drop only in the case of one news, but just at the given moment the time is like this. The calm before the storm. Therefore, a drop in this amount is a set of negative news and factors.

[calum holding25]

I think that the downturn market has nothing to do with the Muslims celebration of Eid. The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general. 

[Xising]

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.

Although I mostly agree with the idea that it has no correlating effect, and the occasion being celebrated by our Muslim brothers right now could not have anything to do with the decreasing value of coins in the market. I think that cryptocurrency having different factors that affects its value, may be affected by anything even this event that seems unrelated at all. So even if it is not big, there might be some little effects.

[hardrockstar]

No one can change in the market down due to Eid of muslims because only the exchanges knows the life of bitcoin.

[TahuDiniHari]

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 it can happen, surely the market is a big influence. maybe some of our Muslim friends are selling some bitcoin they have to welcome a happy day (ied) with their family and loved ones.

[fathoni20]

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?

[alex M]

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.

Yes, I agree. It is not justifiable that a downtrend in the market is caused by a muslim religious celebration. I think it is due to negative news about crypto or bitcoin. But normally crypto market price is greatly affected by low demand or many are dumping their coins.

[cmaxwell]

from experience, i have never heard it that any religious celebration can affect the market value of crypto currency. it is a wrong conception to now think that muslim celebration of EID can affect the market value of bitcoin. please lets desist from this act of wrong conception about bitcoin.

[SaiWAFU]

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 question is plainly idiotic as well as the reason that made you contemplate on that question.

Blaming a religion because of bitcoin only spreads hate and false information.

And to answer your question, no it's not. Bitcoin has been falling for several months now, I don't think Eid lasted that long.

[kojoannan]

I don't see why anyone will make such comparism with a religious festival and that of financial asset. A big NO. Bitcoin has been down far before the Islamic festival.

[JohnDcosta]

It is not true, bitcoin and celebration are not related to each others.

[nayeel]

I think there is no relation for Bitcoin price falling in relation to EID MUBARAK.because not only muslim but also all religious people with in bitcoinz  every nation or nation has its own traditions and holidays. This does not mean that the crypto currency market will never rise.

[sarajahon]

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?

Yes, Off course its affect market because of Muslim fest.
Here is related info: https://coinpedia.org/news/mosque-bitcoin-donations-ramazan/

[Alifal]

I think there is no relation for Bitcoin price falling in relation to EID MUBARAK.because not only muslim but also all religious people with in bitcoin every nation or nation has its own traditions and holidays. This does not mean that the crypto currency market will never rise.so carefully hoped it is no mettar.

[ys fs]

do not corner Muslims with decreases in bitcoin prices, bitcoin prices have started to drop dramatically long before ied started,

[kopamo]

are you mad, Bitcoin and Eid  are no relationship with each other Bitcoin price failing other reason not for Eid  and Bitcoin price down is common matter

[Futurm]

I don't think there's anything in Muslim eid and bitcoin prices.
Unless you think they're going to sell bitcoin for Muslim eid, I don't think that's realistic.

[mohammedhwang]

I believe that the market will not give such a drop only in the case of one news, but just at the given moment the time is like this.The primary reason of the market falling is due to the governments negative attitude towards bitcoin and cryptocurrency in general.

[radjie]

the price movement of cryptocurrency is based on the demand, there is a possibility that a large Muslim celebration that is taking place can affect the market price movement because more sales demand than purchase because many people convert cryptocurrency to local currency. as we know the celebration of the Lunar New Year and Christmas in the past the price movement of cryptocurrency also tends to lower the price at that time