Chinese New Year 2019

[Altero]

I think that during the Chinese New Year there will be a growth in cryptocurrency. I think the Chinese New Year will be the start for a new bullish rally.

I remember last year, many speculation appears during the season and many says Chinese needs money so they can celebrate and that cause the market to go deeper. I think there will be no major growth simply because of Chinese new year, we need a strong news and not this kind of celeberation to make the price go up again.

We do hope also that it could uplift the market a little bit high but not to expect to much for that cause we are in deeply unpredictable market and it have different from previous years. What ever happen during the celebration, we just accept it and do usual business.

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[BitHodler]

I remember last year, many speculation appears during the season and many says Chinese needs money so they can celebrate and that cause the market to go deeper. I think there will be no major growth simply because of Chinese new year, we need a strong news and not this kind of celeberation to make the price go up again.

I have seen that too, but it's pure nonsense. Every drop last year was linked to a certain event, which just shows that people don't know what's going on. They are going with the flow of what's trending on social media.

We also had a lot of people blaming the social media ad bans for the price to go down, while that was pure nonsense as well. I'm glad that people more or less understand now that it is just the speculative bubble that popped.

As for the good news to make the price go up, don't wait for it. I don't see anything other than an ETF approval be good enough news to initiate a pump, but we have to wait a couple of years for that....

[myohmy81]

So historically bitcoin price tanks around Chinese New Year, starting around 23 days before the event. (https://steemit.com/cryptocurrency/@budz82/coincidence-multi-year-bitcoin-crash-pattern-like-clockwork-btc-has-crashed-25-35-for-4-years-in-a-row-23-24-days-before-chinese)

Chinese New Year 2019 is February 5th, which means we are in the middle of the 23-day-period approaching the big bang. What do you think? Do you believe in the Chinese-New-Year-Theory? Think we have bottomed yet price-wise or will it go down further?

Chinese New Year can affect the market price if those Chinese will sell their bitcoin as they need to money for their spending but with the current market price I don't think that Chinese investors will sell their bitcoin because the price has little difference from the bottom. Anyways as long as those manipulators will not take advantage on the Chinese holiday this can't shaking the market price.

[DonFacundo]

well hopefully, I would be happy if bitcoin is increasing because of the Chinese New Year, it's a great opportunity to make money that upcoming event.

[bitcoin31]

I don't think they have effect of chinese new year in bitcoin price. Because they don't have any connected that event to the value of the bitcoin. But incase that can helptm to grow the value of the bitcoin that is good for us. And as far as I know China banned bitcoin already Correct me If that is wrong so they will not able to buy and sell bitcoin in their country.

[Herbert2020]

I think that during the Chinese New Year there will be a growth in cryptocurrency. I think the Chinese New Year will be the start for a new bullish rally.

I remember last year, many speculation appears during the season and many says Chinese needs money so they can celebrate and that cause the market to go deeper. I think there will be no major growth simply because of Chinese new year, we need a strong news and not this kind of celeberation to make the price go up again.

it has never only bee last year and not even only Chinese new year

they do it every time there is any kind of holiday. with obvious cases like Christmas and Chinese new year being the most popular among them. and the logic is always the same flawed one but for some reason these people still stick to it and so far in the past 5 years that i have been in this community i have seen them only be on point for 10% of cases which means it was purely coincidental.

[thecodebear]

So historically bitcoin price tanks around Chinese New Year, starting around 23 days before the event. (https://steemit.com/cryptocurrency/@budz82/coincidence-multi-year-bitcoin-crash-pattern-like-clockwork-btc-has-crashed-25-35-for-4-years-in-a-row-23-24-days-before-chinese)

Chinese New Year 2019 is February 5th, which means we are in the middle of the 23-day-period approaching the big bang. What do you think? Do you believe in the Chinese-New-Year-Theory? Think we have bottomed yet price-wise or will it go down further?

To be honest, this theory seems ridiculous to me. Bitcoin and the entire market cannot rise like this because of a holiday in one country. Here everything is much more complicated.

Also let's remember China has done all they can remove China from the Bitcoin market. When China accounted for the majority of bitcoin trading perhaps the China New Year actually had an effect, at this point China can't do much to negatively affect the Bitcoin price, and I certainly don't think a holiday in China is gonna do anything.

[marcbitcoins]

The Chinese believed in luck and prosperity during their new year celebration so expect an increase of price movement during the activity. Hopefully this time it will be different that it will trigger the bullish run so that the crypto currency especially Bitcoin investment will become great again.

[gentlemand]

We now have the luxury of not giving the slightest fuck about China. May it continue for ever and ever and ever.

Exchanges are now borderline impossible for Chinese folk to access. It's all P2P and OTC.

[senyorito123]

The Chinese believed in luck and prosperity during their new year celebration so expect an increase of price movement during the activity. Hopefully this time it will be different that it will trigger the bullish run so that the crypto currency especially Bitcoin investment will become great again.

I don't believe on that expectations mate, probably you're just day dreaming at all to that point believing on a Chinese superstitions. However I can't blame you specially when you're really affected with the bearish trend in past year. That Chinese new year celebration is just a part of their culture and it has nothing to do about btc price increase, most importantly you should consider the fact that more investors still hesitant to move all their money since market still tried to recover lately.

[figmentofmyass]

We now have the luxury of not giving the slightest fuck about China. May it continue for ever and ever and ever.

Exchanges are now borderline impossible for Chinese folk to access. It's all P2P and OTC.

i dunno about that. p2p trading is required to cash in and out of the ecosystem, yes. but that just means chinese traders are on bitmex, okex, binance, and elsewhere now instead of the old mainland okcoin, huobi, and btcc.

when china banned ICO fundraising in 2017, it triggered the dip from $5k to $3k. so i wouldn't say they have no effect on the market. china still controls most of the mining hardware manufacturing market and chinese miners are probably a big chunk of the hash rate. they're still pretty relevant, i'd say. the government just can't meddle with exchanges like back in the day.

[Awkward_Public_Stoner]

Two more weeks to go. Up to now price is (relatively) stable.

We'll see.

[wraithdot]

Hoping for the best to come, definitely some are expecting about the positive impact about it. We already witnessed the situation and still the price is being stable or doesn't move much as what we expected.

[bitbunnny]

We now have the luxury of not giving the slightest fuck about China. May it continue for ever and ever and ever.

Exchanges are now borderline impossible for Chinese folk to access. It's all P2P and OTC.

i dunno about that. p2p trading is required to cash in and out of the ecosystem, yes. but that just means chinese traders are on bitmex, okex, binance, and elsewhere now instead of the old mainland okcoin, huobi, and btcc.

when china banned ICO fundraising in 2017, it triggered the dip from $5k to $3k. so i wouldn't say they have no effect on the market. china still controls most of the mining hardware manufacturing market and chinese miners are probably a big chunk of the hash rate. they're still pretty relevant, i'd say. the government just can't meddle with exchanges like back in the day.

I can agree that China has certain influence on the market but still it's not so big as is considered to be, it has gone weeker with time. From my point of view China is not Bitcoin superpower anymore. Banning ICOs made instant but short term effect I would say. Personaly I don't think that Chinese new year will make some significant impact on Bitcoin price but I do allow to get positive surprised.

[2chase]

I think that the approach of the Chinese new year can play a negative role and lead to a decrease in the price of bitcoin up to the level of 3000 dollars. It is unlikely that the price will fall below this level, well, it is quite likely that within the next two weeks we can test the level of 3000.

[Harlot]

This again? I think we have proven last year that historical prices are highly inaccurate. Just take a look at other predictions that it will be a bullish 2018 4th quarter according to the previous years, well guess what? We have fallen down further to 3,000$ so you might want to open your eyes that historical charts are exactly what they are "history" and don't go saying "history repeats itself" because in this case it is highly unlikely to happen. If you want to forecast future price then you must analyze its current chart not the past one.

[figmentofmyass]

i dunno about that. p2p trading is required to cash in and out of the ecosystem, yes. but that just means chinese traders are on bitmex, okex, binance, and elsewhere now instead of the old mainland okcoin, huobi, and btcc.

when china banned ICO fundraising in 2017, it triggered the dip from $5k to $3k. so i wouldn't say they have no effect on the market. china still controls most of the mining hardware manufacturing market and chinese miners are probably a big chunk of the hash rate. they're still pretty relevant, i'd say. the government just can't meddle with exchanges like back in the day.

I can agree that China has certain influence on the market but still it's not so big as is considered to be, it has gone weeker with time. From my point of view China is not Bitcoin superpower anymore. Banning ICOs made instant but short term effect I would say. Personaly I don't think that Chinese new year will make some significant impact on Bitcoin price but I do allow to get positive surprised.

for sure, the ecosystem has ballooned in size. their influence has decreased over time. it's no longer just "china and the west"---hong kong, japan, and korea are major players now, and the entire global market is more distributed and liquid than the old days when "china bans bitcoin!" could crush the entire market.

but i'd still consider them a "superpower" for the reasons mentioned above. the position they occupy in mining and ASIC manufacturing is impossible to ignore, for the same reasons they are a worldwide leader in electronics exporting.

[auliasilvana]

The Chinese new year is coming soon and according to last year's experience that it does not affect the bear market in a big way. Crypto holders in China are big but all of them are only on coins from China, we will see whether the market will experience good or bad effects.

[el kaka22]

So historically bitcoin price tanks around Chinese New Year, starting around 23 days before the event. (https://steemit.com/cryptocurrency/@budz82/coincidence-multi-year-bitcoin-crash-pattern-like-clockwork-btc-has-crashed-25-35-for-4-years-in-a-row-23-24-days-before-chinese)

Chinese New Year 2019 is February 5th, which means we are in the middle of the 23-day-period approaching the big bang. What do you think? Do you believe in the Chinese-New-Year-Theory? Think we have bottomed yet price-wise or will it go down further?

It is china, of course they are a super power, however what is talked is that they do not have the influence as much as they did last year or any year before that.

To begin with miners in china are looking a way out and trying to figure out ways how they could still profit the way they profit without being under the constant threat of Chinese government and banks. That alone is getting power out of china to begin with.

One country could be too effective for bitcoin (usa with SEC for example) but that doesn't mean they can't lose power as well, China is not powerless country that we should not care about and just forget about, they are still great power but they are no where near the level they used to be which is a good news considering we are aiming at a decentralized currency.

[jrrsparkles]

New year is not associated with crypto currencies so don't predict the prices from time to time for different occasions,honestly I am not seeing any price bump because we are near to the CHinese new year so don't take anything serious just be yourself while investing.