Chinese New Year? - page 9. | Bitcointalksearch.org

mmo_online_1981

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Quote from: manlyxman on February 04, 2018, 09:18:16 AM

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

I think there will be a lot of altcoin and tokens going down in Chinese New Year because there are a lot of investors from China. New Year is a shopping occasion!

cryptomorphines

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Quote from: manlyxman on February 04, 2018, 09:18:16 AM

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

Might be the reason why the market crashes and the marketcap is still declining because we all know chinese has most of the bitcoin,which makes them dominant in the market,a lot of FUDs are spreading which can be a big factor to the community's mindset.

chocopapaya

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I think I can give some insight into Chinese New Year.

I've lived there in the past for quite some time and I spent the last couple days talking about crypto with some Chinese friends who are heavily involved in the crypto network there. (there is a vast community of miners, intermediaries, and investors who created a community through wechat).

What they told me surprised me.
Actually, the Chinese market is basically frozen.
They don't plan to buy or sell. In fact, they are mostly just setting it aside for two weeks as they go back to their home towns and spend time with their families.

When I told them that a lot of people in the western world are afraid Chinese will cause the market to continue to crash as they sell things off to have cash for Chinese New Year, they just laughed and said, "Who is stupid enough to sell at a 60% loss?"

What we gathered, is that speculative fud caused by non chinese about chinese is what people should be afraid of.

Of course, it's only a handful of people I talked to, but they assured me that the vast sentiment of the crypto community is to do nothing the next three weeks.

Inkdatar

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Quote from: Svelto on February 05, 2018, 09:42:53 AM

I think Chinese New Year is a big thing to the Chinese. So I am expecting there might be another dip before Chinese New Year. But to be safe, I have stocked up some coins now and will buy more before Chinese New Year if the price is good.

This is most expectations during Chinese New Year that price might suffer another dips. Most sell before that event and maybe after we can see a good news by that time. Many speculations happen and maybe too I could buy at this time to save and hold some btc. Because we might see a good price of btc to increase.

Hexah

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Well, probably this could be the reason of the bitcoin dip and I am hoping that is the relevant of that. I would probably gonna hold and wait more of what's coming but I am optimistic that after the Chinese New Year a bitcoin being bullish is what I am gonna see on the market. Chinese are one of the big crypto market player so if there's dip and uprising of value of bitcoin they could be the one factor.

Lerikaweb

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The Fourth Generation of Blockchain in DeFi

This is one of the situations for which I can say that quantity is power:) the Chinese control so many different aspect in people's lives all over the world only by the number of citizens. I don't think that btc will cost a penny, but it might fall reasonably.

Svelto

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I think Chinese New Year is a big thing to the Chinese. So I am expecting there might be another dip before Chinese New Year. But to be safe, I have stocked up some coins now and will buy more before Chinese New Year if the price is good.

Xairmair

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From February personally I waiting low prices not only for BTC, but also alts like Ethereum, because of a lot of forks

KTPU777

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AMON - Crypto Debit Card for Everyday Purchases

Yes. I think just at the Chinese New Year we will be able to see the lowest price of bitcoin. Then the market should turn around and the price increase will begin. How will actually see.

Landakhitam

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Quote from: manlyxman on February 04, 2018, 09:18:16 AM

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

it seems this is indeed because chinese new year,
people are preparing money for it all,
and the average people in china invest in bitcoin very much

axiline

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To be honest, my nerves are at their limit. I very much hope that all this disgrace that occurs in the market will soon end.

worldooftanks

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The Chinese did a good job as soon as their new year,the whole crypt is falling off a cliff,no wonder they say that in February the market is better not to look nerves are the goals.

Asmonist

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I'm also expecting that and its a great opportunity to buy at a very low price. I think this quarter is the time of buying. Its quite sad but we need to hold until the best price to sell.

Kryten12

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TREEBLOCK

I think that most of the drop in the value of Bitcoin and the alts is already baked in. I would be shocked to see a further decline with the Chinese New Year this year but I guess we should never rule anything out

sourish

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The Chinese New Year is like Christmas, New Years and Thanksgiving all rolled into one.In the weeks leading up to the Chinese New Year, the market drops because the Chinese are pulling out their money for the New Year.
As such the bitcoin price is expected to turn around and go back up again eventually.

TrumpD

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Quote from: trudovik on February 04, 2018, 09:23:19 AM

Yes, the Chinese New Year is certainly something very much anticipated, because it is said that in the Chinese new year bitcoin will cost a penny, because the Chinese will cash their money to celebrate the new year.

This is a very interesting theory, and I would lean towards it. I do not believe that it is just a mere coincidence that the Chinese government made their decisions to ban all cryptos just before they celebrate one the most important festivals in the country. It looks definitely as a ploy for individuals to become more liquid (that is change their bitcoins into cash) so that the cash would be spent, used or traded heavily during this season of festivities for them. They more cash circulates within the season the more growth you see in the economy. Otherwise people would have held their bitcoin and other alt-cryptos, anticipating more growth for future gain. You may even have the situation where instead of people investing in the festival period, you see more investment in crypto-currencies which could damage Chinese economy. This seems like a major move for the Chinese government within this period.

Gandalphlegrand

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Quote from: manlyxman on February 04, 2018, 09:18:16 AM

What are your thoughts on the whole Chinese New Year speculation?

A lot of people think there's gonna be another crash during that time. Did you buy during this initial crash or are you waiting for mid Februar.? I'm leaning towards the latter.

The market being horrible since january let's hope it iwll bounce back after chinese new year

anjohyx

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Quote from: sehoon on February 05, 2018, 07:26:46 AM

I'm looking forward to mid-February and I'm not hoping for another crash. I actually hate red days because the coins are becoming really less profitable and every day it's just getting worse. Maybe 5 days from now or just a week bitcoin and altcoins will be back (just my speculation).

it's not just you , all of us also don't like red day , it's already 1 month , today all market price down again , I don't think market crash main reason is Lunar Chinese New Year investor need money to celebrate , When all the coins price green again Huh

sehoon

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I'm looking forward to mid-February and I'm not hoping for another crash. I actually hate red days because the coins are becoming really less profitable and every day it's just getting worse. Maybe 5 days from now or just a week bitcoin and altcoins will be back (just my speculation).

Haley craft

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The Experience Layer of the Decentralized Internet

I think Chinese New Year has a big impact on the price of bitcoin.
In the last few years, the problem of Chinese New Year caused the whole cryptocurrency market to fall sharply. I think after the Spring Festival, the cryptocurrency market will rise again.

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