Bitcoin price on Chinese New Year

[Dart18]

It is almost the same as Christmas and New Year's Eve. People love to spend at this time.
Chinese New Year though, it had been celebrated by a lot of countries specially in Asia who supports Chinese residents too and respect them.
This had been a tradition for most of the people.
Even though it will not be a worldwide event, Chinese are scattered all over the globe.

I think it could affect the bitcoin price just a little bit though.
Spending makes them withdraw to use fiat currencies.

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[karanggatak]

When looking at the chart I think Chinese New Year has no impact on bitcoin price movements. and in my opinion the Chinese will not sell part of their bitcoin to celebrate the Chinese New Year I'm sure they already have the funds to celebrate the Chinese New Year. I don't think big holidays like Christmas and Chinese New Year will have an impact on the price of bitcoin.

[michellee]

Bitcoin price can go to any price, no matter if we see a Chinese New Year or not, and I guess that this year will not be the same as the last year. Maybe we will see a chance for bitcoin price to start rise before that Chinese New Year so we can celebrate that New Year by selling some bitcoin to make a profit. We don't know what will happen in that New Year, but we can be ready for the coming, so from now on, we should make preparation, so we will see what will go in that day.

[inanilujimi]

The Chinese New Year is like Christmas and the New Year does not have a big influence on the value of bitcoin because not all Chinese people know bitcoin, so for me there is no connection at all.

[Taskford]

Is there any significant changes to the price if their's a festive coming? Well no maybe on other years it creates a coincidence since there's an event nor hype news come that's why we see some certain changes to the price. But now it's totally a different story and we should not look those day as certain indicator since it could turn us down remember that the demand is the major factor for a pump and we should look up for the event that will give a good contribution rather than expecting on chinese new year.

[mrdeposit]

As can be seen from the graphics the new year always affects the price. I remember that after the big increase in 2018, it affected the price enormously. So, this year we are likely to see the same result. This new year is the holiday of a billion people and not a few million, and if 0.5% of these people make sales, it is enough for the fall.

[bitvalak]

Looking at some of the graphs you show if you take the average there is no significant thing before and after the Chinese New Year.
Prices only move a little, maybe between 1% -4%. This could happen maybe because China is a country that has high economic stability, so not everyone sells bitcoin at that time.
It might even be just opinions that make people influenced to sell bitcoin during the Chinese new year for fear that there will be a decline such as assets and other commodities which will certainly reduce the volume of trade as well.

[panganib999]

A bit of price increase, but that's it. Any long term effect regarding the Chinese New Year is honestly non-existent. Price movement is also quite minimal, but nonetheless possibly enough for day traders to make a bit of a profit, I'd say around 1 or 2%? Still, there are a lot of possible influences back then, I didn't really do much research but in general, Every yearly holidays should be thought of as something that increases the price of BTC, albeit only by a few percents, and the change doesn't really last, maximum of a few days I'd suppose.

[killerfrost]

The Chinese New Year is like Christmas and the New Year does not have a big influence on the value of bitcoin because not all Chinese people know bitcoin, so for me there is no connection at all.

In Asia, there are many countries with Lunar New Year. And in this period most cashew investors don't trade any markets because it's customary and they preserve their money and use them to shop and spend for the new year, so During this period the market was very boring and prices tended to go down. So for me, the Lunar New Year has a lot to do with the development of this market

[dark08]

Chinese new year have bad way for bitcoin back whit lower price, two weeks later for ready whit Chinese new year and you have sold your bitcoin before this day coming, believe me one time because bitcoin is not get positive respond whit higher price during Chinese new year, just keep save your bitcoin assets in USD after Chinese new year pass more than one week later.

Welp, whatever the people chooses it's still good though but if they planned on holding it for a long term investment. They shouldn't get affected with this recent growth because it is still far from the reality if Bitcoin starting to get bullish. It may pass the ATH in 2017 since the Bitcoin halving is just getting closer.

To think bitcoin would surpass ATH on 2017 still very far. Bitcoin halving which will be happen on this year won't make price of bitcoin pump so high as you can see from history if almost all pump happened after bitcoin halving.

OP, bitcoin price didn't always increased on chinese new year, so you shouldn't worry about that

Yup the current price of bitcoin was too far to its all time high most people think this 2020 will give a big move for bitcoin becase of its halving but who knows what will happen to 2020 halving.

Regarding to OP images on past chinese new year history chart its look like no effect on bitcoin price.

[bitcoindusts]

In my opinion the bitcoin price will only drop a bit or stable while facing Chinese New Year 2020. The impact of World War 3 is more influential than other things. All sector such as economic, politic, society, goverment, security can be changed. This can make a country's financial stability and money value unstable. And then bitcoin will be the best option to save their money from inflation or deflation. High demand from people who want bitcoin makes the price of bitcoin go up so that it can covering expenditure on Chinese New Year.

Thats my opinion about bitcoin price on Chinese New Year, how about you guys? Let's discuss it 

I  think Bitcoin movement will be different this time.  It won't drop but would go sideways at worst.  I think we can see a small recovery of the price probably the prediction of $10k will happen.  It is just my speculation though anything will happen of course since Bitcoin price is so unpredictable.

[Oceat]

Chinese new year have bad way for bitcoin back whit lower price, two weeks later for ready whit Chinese new year and you have sold your bitcoin before this day coming, believe me one time because bitcoin is not get positive respond whit higher price during Chinese new year, just keep save your bitcoin assets in USD after Chinese new year pass more than one week later.

Welp, whatever the people chooses it's still good though but if they planned on holding it for a long term investment. They shouldn't get affected with this recent growth because it is still far from the reality if Bitcoin starting to get bullish. It may pass the ATH in 2017 since the Bitcoin halving is just getting closer.

To think bitcoin would surpass ATH on 2017 still very far. Bitcoin halving which will be happen on this year won't make price of bitcoin pump so high as you can see from history if almost all pump happened after bitcoin halving.

OP, bitcoin price didn't always increased on chinese new year, so you shouldn't worry about that

Yup the current price of bitcoin was too far to its all time high most people think this 2020 will give a big move for bitcoin becase of its halving but who knows what will happen to 2020 halving.

Regarding to OP images on past chinese new year history chart its look like no effect on bitcoin price.

Yeah I know, I am just referring to the long term investment because I'm fully aware about of the halving effect that's going to happen probably next year. This halving in May will not make any major changes in the market.

Short term investment is not profitable IMO if the situation of the market is most likely a bull trap.

[asus09]

Look the same situation for bitcoin price down on Chinese new year in 2020, after four time whit chine new year bitcoin always have lower price because many China investor will sell their bitcoin assets for ready their new year, two weeks later for ready whit Chinese new year you have enough time to keep save your bitcoin become USD or convert to your local money.

[btccashacc]

Since China is one of the countries with the most bitcoin users specifically in mining industry, they will probably cash out some of their bitcoin for preparing the new year and it will affect price but I don't think it will bring such a big impact for the price, it might affect the price but will not down drastically as we've seen in previous years. There's still halving which takes place within 4 months where people still collecting bitcoin as much as they can.

[bamboylee]

The chart seems normal bitcoin movement to me. There are a few fluctuations in the price before the Chinese New Year but not enough to conclude that it was caused by the event. You can actually see that kind of fluctuations throughout the year whether there is a special holiday or not.

[barabarian1]

in my opinion the Chinese new year will not affect the price of bitcoin. bitcoin prices can go up and down suddenly without a reason. and i see op chart there is no increase or decrease during chinese new year. if later in the Chinese New Year bitcoin increases I think it's just a coincidence. or this is a whale manipulation that utilizes the moments of the Chinese New Year.

[cotton ball]

Chinese new year have big effect how bitcoin will go down because many investor from China will sell bitcoin how ever price because they want to celebrate their new Chinese new year, once year always have moment where bitcoin always have timing about bitcoin could higher price later, maybe stop for waiting and big hope with Chinese new year bitcoin have higher price.