Chinese New Year 2019 - page 2. | Bitcointalksearch.org

myohmy81

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Quote from: Awkward_Public_Stoner on January 15, 2019, 04:23:01 PM

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.

BitHodler

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Quote from: creeps on January 19, 2019, 05:40:49 PM

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....

Altero

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Quote from: creeps on January 19, 2019, 05:40:49 PM

Quote from: Gary Levanevskii on January 16, 2019, 12:10:36 PM

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.

Oceat

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Quote from: creeps on January 19, 2019, 05:40:49 PM

Quote from: Gary Levanevskii on January 16, 2019, 12:10:36 PM

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.

I don't think any celebration would change the current trend of the market but one thing is for sure to me that we are still in a bearish trend and it wouldn't change just because of a holiday. If they can make the market move then I would probably gonna believe that they can really affect the situation in the market. Bearish market is not done yet, it might go find another bottom in time.

creeps

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Quote from: Gary Levanevskii on January 16, 2019, 12:10:36 PM

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.

buwaytress

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Quote from: tomahawk9 on January 16, 2019, 03:00:10 PM

I remember last year people were freaking out because the prices was tanking and everyone was blaming the Chinese New year without any hard evidence, truth was that bubble popped and we were bound to go down even without an "event" such as the Chinese New Year taking place.

I doubt we'll see any drops because of it this year, we'll probably continue the same sideways movement around the 3.4k-4k range. There was a time when the market used to react to chinese events, news, and whatnot, but that's in the past now, the crypto space has moved on and no longer cares about anything that happens in China.

Even I misjudged the Chinese effect on Dogecoin, thinking 1, most Doge miners/holders were Chinese, and 2, last year (this year) was the year of the Dog. Incredibly auspicious signs, but now I understand that crypto people, miners and speculators anyway, aren't as superstitious as other business people in China.

But yeah, Bitcoin's never been such a huge thing, especially not when there are thousands of other crypto to choose from now plus the rather strong sentiment for Neo. If the Lunar new year ever had any effect on BTC price, it's no longer apparent.

sheenshane

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Quote from: gabbie2010 on January 19, 2019, 11:06:06 AM

Quote from: Awkward_Public_Stoner on January 15, 2019, 04:23:01 PM

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?

The Chinese new year wouldn't have much impact as more countries are having more adoption of bitcoin thus withdrawal of Cryptos to Fiat shouldn't cause more dumps as the market had already been saturated with the bears for a very long period of time.

I don't think so if this coming Chinese new year will give a bullish trend on the crypto market, as like what happened on before the new year we much expecting the bull market come but it won't happen. Chinese people is one of the highest investors in cryptocurrency but I didn't know if it will give a great reaction to the market price movement or still those who manipulated the market will remain.

gabbie2010

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Quote from: Awkward_Public_Stoner on January 15, 2019, 04:23:01 PM

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?

The Chinese new year wouldn't have much impact as more countries are having more adoption of bitcoin thus withdrawal of Cryptos to Fiat shouldn't cause more dumps as the market had already been saturated with the bears for a very long period of time.

dodgrad

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Quote from: Awkward_Public_Stoner on January 15, 2019, 04:23:01 PM

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?

As far as I know, in China there are annual limits for investments. They are reviving at the beginning of the Chinese New Year. In my opinion, this is what causes cryptocurrency prices to grow. Let's hope that also this year Chinese speculators and investors will show us how strong they are.

Febo

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Quote from: Red-Apple on January 16, 2019, 07:10:14 AM

Quote from: Awkward_Public_Stoner on January 15, 2019, 04:23:01 PM

So historically bitcoin price tanks around Chinese New Year,

um, what chart are you looking at because i don't see it!!!

as far as i can remember each year people make the same statement and guess what, price has never fallen during that time despite what you guys claim every single year.

take 2017 for example. i remember clearly there was a big campaign talking about how there will be a big dump and price will crash to $600 (price was $900 at the time). then at the start of February price started going up and continued rising all through the Chinese New Year and reached $1100 (20% rise).
same with 2016: price went from $364 up to $452 during first weeks of February (24% rise)

the funniest part is that even in 2018 (which was right in the middle of the big bubble burst) the price went up from $5900 to $8900 (50% rise) LOL

So 3 years in a row price was skyrocketing during Chinese new year. That definitely predict that now will tank huge.

goaldigger

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If something happened on Chinese New Year Last year,it doesnt mean that it will happen again these year. In fact there are numerous holidays that passed through this bloody market. But, if the price changes after that, i am now sure that there are a large volume of chinese investors here in crypto world.

Awkward_Public_Stoner

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Personally I believe we are at the bottom now wrt to price, or close at bottom. You never know, but I don't believe it will dip much further. 85% from the ath would be the max historically (save 2011, which was an outlier).

We'll see.

sunsilk

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I don't think so, they have been gone out of the scene even before though there's still good number of Chinese that currently invested in crypto's but we just can't compare that on how much they greatly affect the market before.

Last year should be enough for that dip and fall that you are thinking which will happen before the Chinese New Year. But the reality, they no longer impact the price of bitcoin. Before it's yes but things has changed quickly.

Leonardo7

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This market has suffered enough, and the Chinese new year is likely not going to have any meaningful impact on the market. How do these guys who bought very high sell off cheap because of a new year? When we did our new year, the market didn't tank. Just be on guard.

Adriano2010

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I hope that in the New Chinese year we will have a grow, at least 4x from what is now but maybe only after Bakkt will start invest on bitcoin we can see a grow for all coins. Until then better hold bitcoin and get more and sell only on profit.

arpon11

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With the way bitcoin has been behaving I think it is going to go down further. Bitcoin is currently not doing well in other to make part for bullish trend and I am in support of those that said bitcoin is going to go down from now till the Chinese new year. It has been happening like that and this year is not going to be an exception. We are going to have bullish trend any moment from the middle of next month if ETF or any other technical issues we are expecting happened.

tomahawk9

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I remember last year people were freaking out because the prices was tanking and everyone was blaming the Chinese New year without any hard evidence, truth was that bubble popped and we were bound to go down even without an "event" such as the Chinese New Year taking place.

I doubt we'll see any drops because of it this year, we'll probably continue the same sideways movement around the 3.4k-4k range. There was a time when the market used to react to chinese events, news, and whatnot, but that's in the past now, the crypto space has moved on and no longer cares about anything that happens in China.

Awkward_Public_Stoner

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It appears most you think that it won't have no effect at all and/or is bullshit as a theory to begin with. Very possible.

Thank you all for your input.

aad140386

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simply getting the job done

I do not believe in such things at all. There are, of course, market patterns, but what you indicate is rather a common coincidence. In the current market situation, I would not wait for a special revival of the market before spring. In general, I am very afraid that Bitcoin will continue to fall after trading in the area of 200 EMA. And breaking through the level of support for Bitcoin can go into the region of $ 2000 for Bitcoin. I hope that I’m wrong and the growth will start. At least in the early spring. And it’s hard for me to believe that this time Bitcoin will quickly recover to the levels of 2017-the beginning of 2018.

aris av

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It is still limited to theory which is not necessarily true to occur, the market is still very complicated and difficult to predict. Despite what will happen to the market, I prefer to keep holding.

Topic: Chinese New Year 2019 - page 2. (Read 18556 times)