Does Chinese New Year Affect the Market?! - page 3.

IloveDigibyte

full member

Activity: 303

Merit: 100

POS / PRIMENODES

Quote from: SW_Lee on February 16, 2018, 12:24:25 PM

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

I think Chinese people affect the market wit their actions. I don't think they are doing too much investing around Chinese New Year and their absence is what make the big difference.

Deancooel1

newbie

Activity: 151

Merit: 0

chinese feast may affect the rise of bitcoin prices, because the holiday is a happy day, many giveaway is implemented, many also discounted prices

SW_Lee

newbie

Activity: 56

Merit: 0

Quote from: Martinkuhn on February 17, 2018, 12:31:31 PM

I think the effect of Chinese New Year is not due to the chinese traders cashing out to buy gifts. I think the belief of chinese crypto traders is that they do not want to get into large financial investments just before chinese new year, as they have a long period of rest and celebration. Hence they divest out of big investments especially the risky ones.

After the new year, then the Chinese will get back to the markets...Chinese New Year is an important event in China and families meet for reunion and share about their good news and brag about themselves over dinner and drinks. No one wants to go into Chinese new year being broke or without job... so usually chinese dun quit their jobs before Chinese new year and they also dun enter into risky investments just before the celebration.

If everyone noticed, the crypto markets started to recover after thursday night.. that was the most important Reunion Dinner where families meet up. After that dinner filled with bragging and sharing.. the chinese traders will be able to start trading and taking risk again.

This is just my speculations based on my observations over the years

Thanks for sharing your idea!

Martinkuhn

jr. member

Activity: 161

Merit: 1

0xf54CA5618b90810722B0e833DC150a97743A40B4

I think the effect of Chinese New Year is not due to the chinese traders cashing out to buy gifts. I think the belief of chinese crypto traders is that they do not want to get into large financial investments just before chinese new year, as they have a long period of rest and celebration. Hence they divest out of big investments especially the risky ones.

After the new year, then the Chinese will get back to the markets...Chinese New Year is an important event in China and families meet for reunion and share about their good news and brag about themselves over dinner and drinks. No one wants to go into Chinese new year being broke or without job... so usually chinese dun quit their jobs before Chinese new year and they also dun enter into risky investments just before the celebration.

If everyone noticed, the crypto markets started to recover after thursday night.. that was the most important Reunion Dinner where families meet up. After that dinner filled with bragging and sharing.. the chinese traders will be able to start trading and taking risk again.

This is just my speculations based on my observations over the years

puugiako0811

newbie

Activity: 52

Merit: 0

Quote from: SW_Lee on February 16, 2018, 12:24:25 PM

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

yes for me Chinese new year has a big effect at market price because, In Chinese New Year, people make a lot of purchases in the lead-up, and then over New Year itself they stop spending. So a lot of the spending happens in the month before New Year. In other words, Chinese people were cashing in their bitcoin gains to pay for the holiday excesses. There’s a lot of Chinese players in the cryptocurrency space. At Chinese New Year, some people are selling off to buy what they need to buy for the holiday. As an investor,this is a good opportunity to buy cryptocurrencies.

BitLendingClub

full member

Activity: 378

Merit: 101

Now we wait for 12k breaking. After that we can look further by results - success or no and how. If bullish trend that means china's traders are smart and nothing prevents them to trade. Now - simply wait

Praesidium

full member

Activity: 409

Merit: 103

Maybe Chinese New Year really affect the market since lately after the new year finished the bitcoin's price is rising, I think there are new investors buying bitcoins coming from chinese people. Still there are many more aspect that affect the bitcoin's price so who could just a assume that chinese new year is one of them.

favelle75

hero member

Activity: 910

Merit: 501

get ready for prise jump over 14000 usd .
if we can close 1 week over 14000 usd than it will be a nice supportline for this year

meldrio1

full member

Activity: 1358

Merit: 100

I think yes instead of negative its positive, I thought it will go down the price of bitcoin because of chinese new year but no, bitcoin increase maybe they don't want to withdraw yet.

sentinus

member

Activity: 210

Merit: 10

Many people said the reason of falling is chinese new year in this forum. I think they were right. It increases day by day

Iyanu14

member

Activity: 795

Merit: 10

No, there are a lot of force moving crypto market beyond Chinese new year. The media most especially is the number one force moving the market whenever there is good news the price moon and when there is a bad news the price drops.

mmo_online_1981

sr. member

Activity: 798

Merit: 250

Quote from: SW_Lee on February 16, 2018, 12:24:25 PM

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

Yes! I think so! Because many member from China join to trading and now is China Holidays!
i thinks, all coin will grown up after next month!
Thanks

kpierce77

legendary

Activity: 1540

Merit: 1002

Quote from: pabpete on February 17, 2018, 09:17:34 AM

Quote from: feny.blackpink on February 17, 2018, 04:37:14 AM

i think it is not only the factor that affecting bitcoin price.
there are some other factors too such as uncertain regulations that make peoples sell their bitcoin.

The Chinese New Year could have a significant effect on cryptocurrency markets.Chinese and South Korean bitcoin investors frequently exchange their crypto holdings for fiat currency during the holiday.

I think I also agree with you, many people who do hold during holidays, especially in south korea and china. both are countries with high trader intensity

Chanock

full member

Activity: 476

Merit: 102

Quote from: SW_Lee on February 16, 2018, 12:24:25 PM

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

Maybe, because some people considered holidays season as a contributor in altcoin and bitcoin. Specially the Chinese community that have a big impact of the movement value of crypto community. For me there no something special for Chinese new year that can affect the value of cryptos.

Xanxus024

full member

Activity: 434

Merit: 104

We all know that Chinese community has a big impact in crypto world but I think it not affect the market at all because there are more reason why the other crypto become low,like bitcoin drops because some article said that bitcoin will be dead so therefore the other investor become panic and they sell their coin that's why the demand become low.

Wyne

full member

Activity: 531

Merit: 102

Quote from: SW_Lee on February 16, 2018, 12:24:25 PM

I think yes, but I have no idea about details why it is rising bcs of it.
Anyone can explain me?

Some people consider holiday seasons as a contributor for bitcoin and altcoin value. In broader sense, investors attitude toward seasons might be a factor but logically do not barely lies on it. The deflation of bitcoin value for the first month of January is due to the correction of price due to very high price bitcoin reach on the early week of December plus the bad rumors, news and speculations regarding bitcoin affect bitcoin value on the preceding days. Last Chinese New Year, we experienced a bit increase in bitcoin value because bitcoin started to gain trust again from its investors because negative news and speculations regarding cryptocurrency stops.

emmmmm

member

Activity: 210

Merit: 10

The Experience Layer of the Decentralized Internet

I am also very curious about this problem, when all people think Chinese New Year Chinese people will cash at that time, so instead of rise in the price of the bitcoin, it makes me very don't understand, what it is because. Huh

Faeton

member

Activity: 308

Merit: 11

To some extent, the Chinese New Year, which is celebrated on February 16, has to do with the depreciation of the crypto currency. However, this, in all likelihood, is largely a seasonal decrease in its price. This year, a sharp decrease in the bitcoin rate was due to its sharp December increase, the presence of shortcomings in bitcoin due to its insufficient scalability, negative world news about the crypto currency, and to a large extent false. Unsurprisingly, after the flow of these negative news ceased, bitcoin slowly began to rise in price.

kandholabhavna

full member

Activity: 252

Merit: 100

Yes, it sure does. Most money in crypto is from chinese investors and they go the fiat way during chinese new year which brings the price of crypto down. Its just a momentary phase and nothing one should be concerned about.

chocolaty

member

Activity: 294

Merit: 14

No significant effect as we can all see. Events like this may or may not affect the market. We really don't know. I still think that February is too early for bitcoin to rise. It is still in the correction stage. There will still be lots of happenings that will affect the market.

Topic: Does Chinese New Year Affect the Market?! - page 3. (Read 692 times)