Topic: Chinese New Year 2019 (Read 18556 times)
Till last year there'll be price increase by the end of the year and the same gets carried forward towards the falling year. This didn't took place this year, last year the price of bitcoin started tanking high from the days around Chinese new year. With all hope let's believe some form of growth happens by the time of Chinese new year this year as well.
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 unlikely that the onset of the Chinese New Year holidays so affect the price of cryptocurrency. Most likely, many processes at the beginning of the year influence in such a way that the cryptocurrency each year begins to grow approximately from the second half of February. Since January has actually passed and the prices for cryptocurrency remained the same, we hope that progress will begin to appear in the prices of cryptocurrency after the Chinese New Year. Various events may also occur that have a positive effect on the price of cryptocurrency. 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?
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.
There’s no sign of bigger pump in Chinese new year but hopefully it can be the start of the rise again. From my previous experience, it looks like there’s no significant movement during this season, well maybe it changes now since we are in a bear market. Let’s just all be part of this celebration. 
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.
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.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 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.
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.
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.
when china banned ICO fundraising in 2017, it triggered the dip from $5k to $3k. so i wouldn't say they have no effect on the market. china still controls most of the mining hardware manufacturing market and chinese miners are probably a big chunk of the hash rate. they're still pretty relevant, i'd say. the government just can't meddle with exchanges like back in the day.
I can agree that China has certain influence on the market but still it's not so big as is considered to be, it has gone weeker with time. From my point of view China is not Bitcoin superpower anymore. Banning ICOs made instant but short term effect I would say. Personaly I don't think that Chinese new year will make some significant impact on Bitcoin price but I do allow to get positive surprised.
for sure, the ecosystem has ballooned in size. their influence has decreased over time. it's no longer just "china and the west"---hong kong, japan, and korea are major players now, and the entire global market is more distributed and liquid than the old days when "china bans bitcoin!" could crush the entire market.
but i'd still consider them a "superpower" for the reasons mentioned above. the position they occupy in mining and ASIC manufacturing is impossible to ignore, for the same reasons they are a worldwide leader in electronics exporting.
This again? I think we have proven last year that historical prices are highly inaccurate. Just take a look at other predictions that it will be a bullish 2018 4th quarter according to the previous years, well guess what? We have fallen down further to 3,000$ 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.
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.
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.
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.
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.
Two more weeks to go. Up to now price is (relatively) stable.
We'll see.
We'll see.
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.
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.
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. 
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.
Exchanges are now borderline impossible for Chinese folk to access. It's all P2P and OTC.
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.
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 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.
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.
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.
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.
Jump to: