Not all Chinese are in CHINA, We also know that Most countries have CHINA TOWN on their places,
Chinese believe that they must have the money in celebrating the new year, they want to have wealth on the time the Year Change!
I believe that they are converting their tokens and coins into FIAT and now that the Chinese New Year ends, they are now coming back into crypto and this is the reason of the rise of the market.
Topic: Chinese New Year - Effect On Crypto - page 4. (Read 565 times)
Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.
What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
I guess the impact this year is not that great when compared to the effects we have seen in the past few years because there are more support from people today. Also, I don't think that Chinese new year is not a significant event to watch out anymore when it is related to bitcoin price since it doesn't impact price that much. For sure, market cap would be lowered on some coins but expect recovery after Chinese new year hype is gone. What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
The Chinese New Year has an impact on the economy that leads to a decrease in bitcoin, but not too low. That's because the people who celebrate Imlek prefer culinary shopping and spend a lot of money for the needs of Chinese New Year. But after the, bitcoin back up as before.
Lunar New Year this time not so big impact on the decrease of bitcoin, bitcoin only down about 9% only.
Now the Lunar New Year has passed and bitcoin has increased by about 9% just as before (running in the same place).
Now the Lunar New Year has passed and bitcoin has increased by about 9% just as before (running in the same place).
There's a trend that Bitcoin crashes a few weeks before Chinese New Year, which may be one of the reasons why January is traditionally considered a bearish month. It still seems to hold true this year, despite the extremely low Chinese Bitcoin trading volume, which is weird.
No one really knows what to expect, but if we follow the trend of the past years, February typically performs much better than January, with the rebound starting to occur around the time Chinese New Year drops.
Correlation =/= causation though, so this might have nothing to do with Chinese New Year at all. Trends only go on until they stop, too.
No one really knows what to expect, but if we follow the trend of the past years, February typically performs much better than January, with the rebound starting to occur around the time Chinese New Year drops.
Correlation =/= causation though, so this might have nothing to do with Chinese New Year at all. Trends only go on until they stop, too.
Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.
What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..
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