Topic: Does Chinese New Year Affect the Market?! (Read 642 times)
Yes, It does! because Chinese offices and factories close for about three working weeks, allowing workers time to travel back home to spend the holiday with their families. It is, therefore, the largest holiday week which obviously affects the trade and business, even if it is crypto business.
I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
Anyone can explain me?
Chinese new year really do affect the Crypto Market as the international major holidays like Christmas, Gregorian Calendar New Year and other important holidays around the world will do affect the Crypto Market because people tend to convert their investments into cash money in order to buy anything for the preparation, occasion expenses, gifts for loved ones and other important things for the special holiday.
That's why Crypto Market will surge back every time the world special holidays are passed like previous years, Bitcoin, Ethereum and most of Altcoins do have droppings on special holidays especially on Christmas and New years.
I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
There's nothing to do with the New Year and the Chinese, it should have happened sooner or later. Now everything went into small growth and started to please our wallets a little. Anyone can explain me?
I also think the same thing when I see the price in all market coin has decreased, I also think all this because of chinese new year, because most of our investors come from china and is currently a celebration oasti require a lot of funds then the price of all markets
I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
Anyone can explain me?
Yes, the New Year is affecting the market, but not all, and a lot of it is for other reasons.
China's Spring Festival has passed, and now the price of bitcoin is growing, which is a good sign!
Its like you are asking us if the market was affected because Donald Trump went to the toilet at 12 midnight..lol. Market was affected because we lost 2 big players on our network and there was a need to make a correction.
yes of course very influential, because ahead of Chinese new year, very many people cashing out to meet their need to celebrate chinese new year
true, china is a big player in the crypto market especially on the continent of Asia. the big Chinese miners even many who cashed it, because they certainly need money to celebrate the Chinese New Year. we can all see changes after the Chinese New Year through the crypto market movement is improving again, it is china taking the lead role in this largest trading of crypto. Yeap, when thousands chinese miners sell their's Bitcoins, it affects to the market for sure. Probably that's the only reason why BTC is not the moon right now.
If they sell their coins. Right now it seemed to be largely unaffected by their new year though i think.
Yup. Don't forget individuals need liquid cash to spend during festivities. So people will have to sell. Asia has one of the highest holders of crypto in the world. Also there is the case of the winter Olympics currently being held in South Korea
Just like the trend that usually comes with christmas, people usually spend/exchange their coins for fiat to be able to buy gifts for thier friends and family, and for us the Chinese New Year isnt any different but because of the introduction of regulations this time around the market has seen an opposite reaction which has caused prices to stablize and soar at the same time.
Binance said that 4% of users are from China. Binance has 5.8 Mil users. So you can imagine what Chinese are the largest exchange of the world...
Maybe this helps to answer your question
Maybe this helps to answer your question
I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?
Anyone can explain me?
it seems to me that yes, maybe whales, which are traders of news. These are people who depend on the whole market
I have seen a lot of people saying the lunar new year has a huge affect. Asia accounts for 60% of the market, 1 billion people travel, and spend 100 billion during the festivals. We will find out soon enough. Ends on the 16th, see how things look on the 23rd
yes of course very influential, because ahead of Chinese new year, very many people cashing out to meet their need to celebrate chinese new year
China is a strong player in the crypto currency market. But now we can see that the Lunar Chinese New Year has not had a significant impact on the overall situation of crypto coins. Although, perhaps we will see changes in the near future.
so far, it's nothing. i think most people were expecting a crash but it's really hard to tell.
China is a strong player in the crypto currency market. But now we can see that the Lunar Chinese New Year has not had a significant impact on the overall situation of crypto coins. Although, perhaps we will see changes in the near future.
So, has it passed yet? Didn't exactly see a lot of affects.
In accordance with statistic data Chinese New Year is affected the market but this influence is insignificant. I think we can see just a bit slower growth of market.
All market is affected on Chinese New year. But most of the Western Countries are holding their coins, Asian Market is starting to fund money in Market now. Everthing's gonna be fine soon. Bitcoin is moving now and alts are following also.
Chinese are good investors as well as good crypto market managers but such news of there effect are produce by those who know few about crypto and the Chinese. They cause offset in the market that leads to dumps. Chinese whale exploit the market more during the dump to accrue more coin.
Oh, and how it affects. Now such a situation on the market is just due to the Chinese. Crypto currency is not tied to anything, but depends on some factors. The most terrible enemy of the crypt is rumors.
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