Does Chinese New Year Affect the Market?! - page 5.

Zachwolf

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Quote from: andrey111 on February 16, 2018, 03:15:09 PM

Quote from: IFK on February 16, 2018, 02:04:54 PM

Chinese New Year does not affect the crypto market. I think that the crypto market fell not because of this holiday, but because the correction should have happened long ago.

Double opinion. One part of me agrees, the other part does not agree. Most likely, both factors worked. And the new year in China has made its own contribution, and the correction is the same.

Even though China is one of the country that not accepting bitcoin/crypto currencies. I think Chinese New Year will not affect the market because they only celebrate there yearly tradition as a chinese people.

BettingTips

full member

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OPEN GAMING PLATFORM

Yes of course. Chinese new year is the most important holiday in a year for Chinese people, it's the time people stop working and cryptocurrency trader and investor are not exceptions. Beside China is the biggest country in the world related to cryptocurrency and it's also one out of the biggest cryptocurrency market all over the world so when all the trader and investor in this country stop working for a week, it'll affect a lot the the market and it's also the main reason why few rencent weeks the whole market painted in red.

cryptoux

member

Activity: 186

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Yes it affects because chinese has the larrgest amount of bitcoins today,even they have some ban in china some of the chinese still trying to trade their bitcoins,or they might be migrated to other countries to prevent these regulations in cryptocurrencies.If most of the chinese cashout all at once surely it will result into another bloodbath,so yes it has some impact.

kindbtc

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I think yes as the traders and the trading volume will comeback to the markets after the holidays we can expectthe market to grow nicely post chinese new year.

olumyd

full member

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Evidently it does. With festive period people need to liquidate assets and trading volume usually drops. However, we can see things picking up pace in the community gradually. Bitcoin reaching $50k USD this year isn't totally impossible, but with festive periods lined up, there will be bumps down the road to that target. So all we could do is tighten our seat belts and make the most prudent investment decisions during this course.

PadenoM

full member

Activity: 308

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Hi, I don't think Chinese new year affects market, it is just timing we had a massive pump which collapse after 2 months of mirth, now price are slowly coming back to their usual growth, anyway happy new chinese year all, hope you'll all have success and wealthyness

Wipro

hero member

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Quote from: ub27 on February 16, 2018, 03:42:30 PM

Chinese New Year made the biggest negative impact. The Chinese did not trade crypto money during the new year. The transaction volume in the crypto money exchanges fell to a minumum level. It took a long time to recover the prices.

Who said to you that bro. Chinese new year and Christmas holidays make the bitcoin price bumped. Even the altcoins value rapidly grow along with the bitcoin every year.

I see minimum bitcoin martketcap reduced end till 321 billion but from the past 3 days it increased in the marketplace. Hopefully it will not go cheap more in the value or market capital.
I believe this price growth reach up to 20k USD.

vipercps

sr. member

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The market of algorithmic crypto trading strategie

Certainly yes, I did not know that detail but now I learned more about the market Shocked

cryptomema

member

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Of course if most of the chinese whales are dumping bitcoin because of the chinese new year surely it will affect bitcoin's price,if bitcoins price will fail most of the altclons will follow its path,another bloodbath will happen.Chinese has the most bitcoin in the world that is why anything they do will affect the market.

Walkenman

full member

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I think so, since many investors are starting to derive profits from assets, and the willing part of the population wants to spend a vacation with money. In fact, there are many reasons, as I can still assume that whales can at this time be good at speculating in the market for their own purposes. But this is just my opinion, nothing more. Roll Eyes

kyle0671

newbie

Activity: 26

Merit: 0

This is what we've all been wondering for the past two months. Here's my thing: Chinese don't do anything during the New Year, so why is that causing price do go down? Doing nothing would imply that they just leave their coins locked up and HODL, this would cause a raise in price in my eyes, not a decline. Maybe the lack of action changes RSI/demand and makes coins appear oversold and it the market drops as a self fulfilling prophecy. It does look like there is a historic drop around the time of the Chinese New Year.

cryptopussies

member

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Quote from: SW_Lee on February 16, 2018, 01:24:25 PM

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

If most of the chinese whales cashed out yes it will affect the whole market,because these people needs some cash to be spent with their holidays,after the chinese newyear we should expect more healthy market than we have today,altcoins will surely grow more in the next few months so stay tuned and hold your precious coins.

chrisrok

member

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Merit: 12

I think there is a relation but I wouldn't overestimate it.

Anyway, the most solid strategy is simply to buy and hodl - don't care about Chinese new year at all.

Xioma

newbie

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http://supchina.com/2018/02/15/beijing-was-awfully-quiet-this-year-during-chinese-new-year-eve/

They were awfully quiet in regards to crypto as well apparently. I wonder why the reason is. Grin

Viscera

sr. member

Activity: 660

Merit: 250

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.

francois-cooper

member

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Your Data Belongs To You

dit it happen like that the years before ?

tiar4dewie

member

Activity: 154

Merit: 10

Of course will affect, but it's just like any other big day. Especially before the day of celebration, those who celebrate need more fiat money, then sales on a large scale occur

Eddyc

sr. member

Activity: 1020

Merit: 391

We know that China has a gigantic number of investors and in parts affected the current market yes, but not in a consistent way but in a simple way that generated small high percentages. In my opinion a lot of expectation was created over this celebration and consequently it was not reciprocated.

ub27

full member

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Chinese New Year made the biggest negative impact. The Chinese did not trade crypto money during the new year. The transaction volume in the crypto money exchanges fell to a minumum level. It took a long time to recover the prices.

realsmans

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Quote from: drogas on February 16, 2018, 03:19:57 PM

Dunno if it's too early to say, but so far, its effects were basically nothing...

I was certainly expecting something more dramatic.

You mean like deeper falling of the all market? I hope it will not happen for now.

Topic: Does Chinese New Year Affect the Market?! - page 5. (Read 642 times)