Chinese new year crash from today | Bitcointalksearch.org

moneyangel

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

I see a green sign on the Bitcoin price all day as it climb to $9.6k. This is a clear indication that Chinese people are not a big holders of Bitcoin anymore, after the Chinese government give order to prohibit their citizens in all cryptocurrency activities or transactions.
We will see a Bitcoin price at $10k this weekend's just a little push.

magneto

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

We're seeing growth in the exact opposite direction, though.

As I've said in previous posts, I think that it's still a bit of a myth whether Chinese New Year actually affects bitcoin prices or not. But the myth is so huge and so many people believe in it, that it's actually becoming a reality. Either that, or it actually does happen.

It makes absolutely no sense for markets to go backwards because of Chinese New Year though.

Let's assume that Chinese people do cash out before CNY in order to buy gifts or whatever in preparations for the new year, then the crash would have came way earlier than today, and from tomorrow on price should actually start recovering. If this isn't true, then price should not be affected whatsoever. None of these outcomes specifically results in a falling BTC price.

Tyrantt

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Day by day closer to the end of the lunar new year and february coming to an end and the price is, slowly and steady, climbing up. We'll see a jump at the start of march. There will be no crash, maybe a slight drop. Stop spreading panic.

Troysen

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January was a good month for bitcoin during the three year period of 2012–2014, while the performance was mixed in February. Let's hope it doesn't crash even more.

kokowannabe

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just believe in your hearts that bitcoin will not come down, just hold and dont sell all your bitcoin ok? Grin

Nakakapagpabagabag

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So what ? Bitcoin and chinese new year are not connected. So we do not believe in such words. So far the price of bitcoins is rising, so you should not say that.

mitchel_am

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People can say whatever they want to say. Bitcoin will not crash and it doesn't depend on this chinese new year

bob123

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

The cashout for the chinese (lunar) new year has started 3 weeks ago.
They arleady bought their presents and their ticket for travelling.
Usally bitcoin will start to pump after lunar. Which is in 2 days (16th february).
Additionally its the year of the dog, which stands for a good financial status (and less for healthiness).

This could (hopefully) mean there is much more money flowing into bitcoin than we expect.

pitiflin

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That is bull shit. Upfront bullshit.
You people think bitcoin will crash during every fucking festive. Don't you itself think you're sounding ridiculous and nothing but shit?
It won't crash,maybe the price will go down a little,and that by no means is crash. Learn something ,alright?

cryptohunter

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china = becoming a non event in crypto

cho99

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

I'm not worried at all , bitcoin is going up slowly since this morning going now to 9.3k and all analysis saying that he should break the support line of 9.5k very soon and maybe before midnight , all altcoins are recovering also , I expect that he will continue to rise to 11 K for this weekend . It's Valentine's day , such a lovely day when you say the green colour every where , I love bitcoin <3

zentdex

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I don't think so, at the time of this posting the bitcoin just raises from 8k to 9k, and as far as I know those chinese value their investment as much as possible. They will not expend a lot of money that are already invested in thus, they will use what they have earn for the last year. Bitcoin could even go up after the chinese new year because it will open up new opportunity to them.

nsasuiteb

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I think it does not affect the market much, if bitcoin can break $9500 then we are probably going to see it above $11K, but I don't think it can break $9500 it is hard.

ukw

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

Yes, the Chinese New Year is very close, but it can not affect on the market of the next 24 hours.
What influenced the market was sales a week or two before the Chinese New Year. According to me.

Bondho Kompeni

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Quote from: Crypto Jaga on February 14, 2018, 11:12:33 AM

Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

hmmm, but up to now, it is the opposite. Not only for bitcoin, but also for altcoins. With many regulations, maybe Chinese contribution is not significant now, or maybe they already cashed out as they should have bought gifts etc by now. Now maybe with meeting friends, they talk about cryptocurrency, and will see increase in prices.

Less than 24 hours in my place will be celebrating the Chinese New Year, but bitcoin prices just go up and now reach $ 9350, usually they will sell a week before china new year or have passed and soon those who receive the gift will buy bitcoin.

Brito

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

Hhmm at this point is + 7.75% for the day.

BTC
And the Chinese New Year is on 16.02. so I do not think there is any negative impact on the market, at least on this component.

jakelyson

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Quote from: sann111 on February 14, 2018, 10:47:12 AM

Uh oh Chinese new year is 1 day away and people are cashing out and bitcoin will be falling again starting today.

The opposite is actually happening. The price has risen almost 8% since yesterday. I believe the Chinese New Year drop was over a week ago and started recovering since then. Which is actually reasonable because you would not withdraw money for the event a day before the event. I hope this recovery continues until we reach a new ath.

onemoretime8520

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the impact that the CNY was expected to have on the market has already happened and after this time the cny in my opinion won`t affect the market too much cuz cny starts 2 weeks ago than the actual date and the impact was then.

Dudeperfect

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Now Bitcoin has grown rapidly and past few years and now incidents in any single country or part of the world won't affect Bitcoin network like it used to affect earlier. Thus, I don't see any crash due to Chinese new year because we have recently experienced the correction process and market is not yet recovered from that crash of about 65%. However, on a global level, things are still in the chaotic mode and I am expecting 40 to 50 days from now for a bounce back.

damrianto

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New year's Chinese accidents were only due to a lunar eclipse earlier this year but had no effect on bitcoin prices. this is often a barrier for them is the decline but it did not happen at all. this could be an issue of accidents because chinese new year is coming ..

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