Topic: Bitcoin price on Chinese New Year - page 2. (Read 352 times)

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.

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.

You have a good analysis of the Chinese New Year, and I guess this year will not be different at all but if we get a drop because of the Chinese New Year event it will not create a big impact because there is a huge jump of the price before that event, and it seems that Iran scenario is helping the market to get up and it is still happening, so this is going to be interesting to watch, will the Chinese event pulls the price down or the IRAN events pull it up more.

Much is happening about the rise in bitcoin pumping, in particular, is coming halving, Iran and the USA are heating up and the price of bitcoin in Iran has been high, a lot of big pickles this year, and now it will reach Chinese New Year. Is that the reason? maybe it could be from one of the causes of the rise in the price of bitcoin at this time, and this is still slowly not significantly.

I dont think this Chinese New Year will affect the Bitcoin price, there is but probably a pump side. Chinese people are usually rich and they can afford to prepare holidays without cashing out their crypto assets. But instead of cashing out probably others are this is the buying point of Bitcoin for them. They will receive a red envelope and it has a monetary inside comes from their families and relatives, which is they can invest in bitcoin. As far as I know, the amount of the red envelope is 200 to 1,000 CNY for kids while 1,000 to 5,000 CNY for parents. So, I think this is too much to invest in Bitcoin this Chinese New Year.

For some people they would but if Chinese want to sell their bitcoin today because of the upcoming holiday, i don't think the price would boost just like this? There's some odd happening here that we don't know yet what exactly is the reason of this recent pump.

 I don't know if we are looking at the same charts but according to what I am looking at there is no major movements at all, all those "small drops" and increases are tiny movements and when you stretch it to days and weeks, there are of course bigger movements, there are bigger movements in almost all 2-3 month period of bitcoin as always.

 I feel like nothing major will come out of this year neither, or at least nothing major because of chinese new year, if we go up we go up, if we go down we go down, none of it will be because of chinese new year, they will all be things that will happen no matter if there was a new years there or not. However one thing is for sure that we started the year very well and I am hoping for it to become even better in the following weeks which will happen to cross chinese new year, so I am hoping for this year chinese people will buy crypto to each other lol.

I don't think also that people are going to spend their Bitcoin now, the fact that they are now going to hold it until the halving. Bitcoin halving is now getting closer and everyone are preparing for it so I don't think they are going to spend it.Exactly. Besides, they can use their fiat instead of using crypto especially Bitcoin. I am not seeing any reason to sell their coins at a cheap price just to celebrate the Chinese new year so I don't think that there will have a big impact of celebrating that event in the price of the Bitcoin and other coins in the market.

I don't think that many people would sell their crypto hodings and especially Bitcoin for clothes or food. If you would hold an investment would you liquidate a part of it to pay some festive expenses or would you use fiat instead?

Chinese Lunar new year is the largest festival in the world by volume. And it's not just limited to china. This festival also marks the end of festive seasons around the world. Bitcoin always had a struggling price in Dec and Jan until the Chinese new year. And after that it's generally a correcting market. The ingredients are right till now for a bull run in 2020.

It's only natural that most of the people who are going to celebrate the Chinese new year will sell their portfolio so they can celebrate the upcoming new year happily.

So let's brace our selves this coming Chinese new year and make a wise investment as there is a big possibility that the price will bounce back after the celebration. And I saw also that the upcoming world war 3 will surge the demand of crypto assets.

Only year 2014 has the year to date(ytd)  price when chinese new year is the bear price action, the rest are positive.

And I am curious about new year, some people said that Chinese New year is much important for Bitcoin compare to literal New Year.

I think, it's because chinese tradition and much asian are have some superstitious about Chinese new year.
But still, not all people in the world celebrating Chinese New year, so for me, the literal new year is much important for Bitcoin and for everything.

I don't think Chinese new year effects to Bitcoin price that much. On this occasion, people might need more money to prepare for the holiday but the percentage of Bitcoin user is very low and it doesn't require too much money.

We'll see it on that real time of event. There are lots of happenings or events that may affect the price. Chinese new year is most likely be affected by chinese investors. However, we all know that they are clever about it. If there are rise and fall of prices we are always ready about it.

after everyone is busy talking about the rise in bitcoin because of problems with America and Iran, now discussing the Chinese New Year, adding some FOMO to the forum, I don't see it as a trend where people should sell their bitcoins or buy it in Chinese New Year , it seems like it's just a coincidence, so in my opinion there is nothing interesting in the Chinese New Year, even prices will continue to run according to trends, it's interesting charts

The chart does not look like there is a certain pattern of the price of Bitcoin during Chinese New Year. I think there will be no significant effect of this occasion to the price of Bitcoin. The chinese are going to buy new furnitures, wares, and all but I don't think much of what they are going to spend is coming from Bitcoin.

On 25 January 2020 we will faced Chinese New Year. Chinese New Year is not only in the China or Asian, but also for people who have chinese tribe or his descent. So, its will impact to all regions. People usually buy a lot of things to prepared that big day such as new clothes, decoration, foods, traveling, and many more. So that people will sell his bitcoin to buy it. Although not all people doing that i think most of all will do.

I took some bitcoin chart on 2014-2019 when is on celebrate chinese new year.


*Note : Red point is Chinese New Year


If we look it, the price of bitcoin before Chinese new year will slowly drop by time to time until it's happened the day. But, after that the price will grow up and stable again. In 2014 the price get dropped after Chinese New Year is because in 2014 bitcoin get stolen around 744.000 by hacker. And other case in 2018 the price also drop, i think its because Facebook, Google, and Twitter prohibits to promoting online advertising cryptocurrency.

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