China New Year | Bitcointalksearch.org

Tanic

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

Probably it will make the price for bitcoin to fall, because of many of citizens will cash out their bitcoins to celebrate the new year. And as we know China is the number one by the number of bitcoin holders, so it just may not have any affect on bitcoin. Anyway we will see.

BrewMaster

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

if you ask me the only effect that the China new year can have for bitcoin is a very short lived dump where price can possibly come down <5% and then whales buy the coins from the weak hands and then price jumps back up >5%

nara1892

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Quote from: jacktheking on January 07, 2017, 11:15:12 PM

You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

If I am not mistaken, I was there when it happened. I mean I saw the price went up in Lunar new year, but people sometimes call it Chinese new year. I don't know exactly why. probably because it is near from chinese new year. so sometimes people are confused about the increasing price.

kumax

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Quote from: alichang on January 08, 2017, 10:50:55 AM

From which source is this graph?

It's taken from http://coinmarketcap.com/
You can find there a list of hundrets of coins with detailed statistics and graphs and also with information about markets and traded volume.
The graphs can be generated from any period of time, so you can easily analyze life cycle of the coin.
Very useful page. Wink

alichang

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Quote from: kumax on January 08, 2017, 10:06:41 AM

Quote from: slapper on January 08, 2017, 09:08:35 AM

Look at the last year chart and you will know what the Chinese usually do in Lunar new year. It is obviously that most of them will sell their Bitcoin in order to prepare for this holiday and it will make the Bitcoin prices even lower. However, after this event, those Chinese will return to their previous path and buy back some Bitcoin, this will make the Bitcoin prices skyrocket. I believe so

Last year the chinese New Year was on Feb 8th and I don't really see any big change in the graph.

And also the year before nothing dramatic has happened around Feb 19th, which was chinese New Year of 2015.

Yes, we can maybe see a little bump before the dates, but it's almost unnoticable.
And if you look on whole year graph, you can see that much much bigger impact was made by Cristmas for example.

From which source is this graph?

Nahl

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

all of china people will getting excited to greeted it because this is important moment for them but china new year was happened every year and i didn't see big news regarding the price of bitcoin in the previous year so my answers is there is no effect for bitcoin

kumax

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Quote from: slapper on January 08, 2017, 09:08:35 AM

Look at the last year chart and you will know what the Chinese usually do in Lunar new year. It is obviously that most of them will sell their Bitcoin in order to prepare for this holiday and it will make the Bitcoin prices even lower. However, after this event, those Chinese will return to their previous path and buy back some Bitcoin, this will make the Bitcoin prices skyrocket. I believe so

Last year the chinese New Year was on Feb 8th and I don't really see any big change in the graph.

And also the year before nothing dramatic has happened around Feb 19th, which was chinese New Year of 2015.

Yes, we can maybe see a little bump before the dates, but it's almost unnoticable.
And if you look on whole year graph, you can see that much much bigger impact was made by Cristmas for example.

Red-Apple

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Quote from: Cactushrt on January 08, 2017, 09:06:21 AM

I guess the price will go down Grin

Bitcoins users will exchange their bitcoin for upcoming chinese new year for their expenses so maybe i predict it will increase again two weeks after the chinese new year.

people were saying the exact same thing for Christmas too and you can see where i am going with this. price went up instead.
Chinese new year is also no different, there may be some volatility but they can not change the overall route that bitcoin is taking.

slapper

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Quote from: kumax on January 08, 2017, 08:40:31 AM

I don't think that bitcoin holders from China would spent their coins on food or some festive stuff just because of New Year.
If there is someone, who needs to change his coins for food, I don't suppose he has such a big amount of coins to influence the market.
Rather than this, I think that the volume of traded coins will be lower, so I expect calmer time.

Look at the last year chart and you will know what the Chinese usually do in Lunar new year. It is obviously that most of them will sell their Bitcoin in order to prepare for this holiday and it will make the Bitcoin prices even lower. However, after this event, those Chinese will return to their previous path and buy back some Bitcoin, this will make the Bitcoin prices skyrocket. I believe so

Cactushrt

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I guess the price will go down Grin

Bitcoins users will exchange their bitcoin for upcoming chinese new year for their expenses so maybe i predict it will increase again two weeks after the chinese new year.

kumax

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I don't think that bitcoin holders from China would spent their coins on food or some festive stuff just because of New Year.
If there is someone, who needs to change his coins for food, I don't suppose he has such a big amount of coins to influence the market.
Rather than this, I think that the volume of traded coins will be lower, so I expect calmer time.

error08

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Quote from: pooya87 on January 07, 2017, 11:24:36 PM

Quote from: jacktheking on January 07, 2017, 11:15:12 PM

You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

that only shows that price doesn't really get affected by these things.
the only thing that holidays can bring to bitcoin is less trading volume because traders are taking a break from trading and that goes both for buying and selling so price shouldn't really change anyways.
and also since the markets are not like stock markets, and instead is a 24/7 market anything can still happen during holidays too.

It's suppose to be that way as people get holiday and go on vacation but the fact like last year and the celebration of Christmas-New year that people should withdraw and take time off for family gathering, family meal, visiting friends and relatives.
But the price increasing instead of decrease, I think this Lunar new year could be the same thing happen. People may see it as a good time to invest in order to get fortune in the new year. You know about giving money in red paper envelopes, that could be one factor to buy more bitcoin Grin

noictib

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

I think the whole big fluctuations in bitcoin is only due to China . because before the beginning of new year the big Chinese trader made buy and they sold speedly after the two-three days of new year that results into down of price but today in present time no much impact is saw by China bitcoiner.
But it is. not a constant anything may happened in the bitcoinword .

dihari

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

Most of businessman especially traders usually do take profit when the feast day or holiday times come. They cut half or all of their money from any business to make their holiday great.
And I think it will happen in Chinese new year. The bitcoin traders will their money from exchangers and we all know what will happen if big amount of bitcoin just sell in one time.
Yes the price will drop. Imho

pooya87

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Quote from: AUDREY23 on January 07, 2017, 11:41:25 PM

Quote from: pooya87 on January 07, 2017, 11:24:36 PM

Quote from: jacktheking on January 07, 2017, 11:15:12 PM

You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

that only shows that price doesn't really get affected by these things.
the only thing that holidays can bring to bitcoin is less trading volume because traders are taking a break from trading and that goes both for buying and selling so price shouldn't really change anyways.
and also since the markets are not like stock markets, and instead is a 24/7 market anything can still happen during holidays too.

for now I guess there is no significant effect between the lunar and the price of bitcoin, maybe it's time to arrive later if there is an effect occurs because hopefully it will have a positive impact for the users bitcoin
happy chinese new year or imlek

well, in my experience these things mostly have the "news effect" in bitcoin price. in other words there is no real effect but when people start talking about something like that and then all the social media is filled with the news then some people may act on it and cause a change in price (in either way up or down)

Yakamoto

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Quote from: alichang on January 07, 2017, 04:07:46 PM

What effect wil the china new year have for bitcoin?

Chances are the Chinese new year is going to have a very minor impact on Bitcoin overall, but it might mean something for some savvier investors who think it's going to do something.

Like all comes down to their fortunes or whatever they get, I know some of the customs but I don't know enough about them to know it all. Gifts are a significant portion from what I've read, but I don't know how that impacts it.

AUDREY23

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Quote from: pooya87 on January 07, 2017, 11:24:36 PM

Quote from: jacktheking on January 07, 2017, 11:15:12 PM

You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

that only shows that price doesn't really get affected by these things.
the only thing that holidays can bring to bitcoin is less trading volume because traders are taking a break from trading and that goes both for buying and selling so price shouldn't really change anyways.
and also since the markets are not like stock markets, and instead is a 24/7 market anything can still happen during holidays too.

for now I guess there is no significant effect between the lunar and the price of bitcoin, maybe it's time to arrive later if there is an effect occurs because hopefully it will have a positive impact for the users bitcoin
happy chinese new year or imlek

pooya87

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Quote from: jacktheking on January 07, 2017, 11:15:12 PM

You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

that only shows that price doesn't really get affected by these things.
the only thing that holidays can bring to bitcoin is less trading volume because traders are taking a break from trading and that goes both for buying and selling so price shouldn't really change anyways.
and also since the markets are not like stock markets, and instead is a 24/7 market anything can still happen during holidays too.

U2

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Quote from: QuestionAuthority on January 07, 2017, 05:14:33 PM

A giant 10 foot tall Chinese rooster is going to peck on your nads until you squirt out a Bitcoin.

Holy crap hahaha. That's terrifying!

Trading will be light, people will be with their families. There will be a huge buy before Chinese new year though just like there was for normal new year's event. The trading volume on Chinese exchanges has been huge the past few weeks. That's where the pump is coming from so I would expect the same for Chinese new year

jacktheking

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You mean Chinese New Year or to be more specific, Lunar New Year?

Well, last year we see an increase in the price of Bitcoin during Lunar new year. I believe this is due to the fact the the exchange closes in China during Lunar new year and hence people search online for alternative 'money-making' trading platform and found out about Bitcoin. I am not too sure though.

This year will probably still be the same. So hold onto your Bitcoin now or buy if you haven't. If you need to sell, sell it on the first or second day of Lunar new year.

.

Topic: China New Year (Read 1262 times)