Topic: Here comes the CHINESE NEW YEAR! - page 2. (Read 341 times)

A lot of people have been pointing to the chinese new year as the reason bitcoin crashed. I never really believed that the crash was caused by that factor... Yes it makes sense people want to cash out a bit and maybe buy some things, but the fall was a massive technical correction first and foremost. It is fun that the new year is coming and I am very excited about The Year of the Dog. I think it will be a huge year for the world economy and a very positive one for all markets, especially bitcoin.

The Chinese government has already cracked down on crypto, so they aren't as big of players as last year.

     Chinese new year has already finished. Before it,others said bitcoin price will decrease but it is opposite to what they say because bitcoin now are continuesly increasing after a big drop.

You do realize that it's 18th today and China has gone bananas on crypto and scared its citizens from buying and selling?

What we're seeing now is total opposite from the last year. Instead of dipping before and during the Chinese New Year, we're seeing some nice gains. Because most small time Chinese investors are not in the game anymore. And those who are in the game are rich people who keep their crypto in HK or overseas and have no need to sell because they already have enough money.
Bitcoin bull run has already begun.

Professional traders are expecting a slow growth pace until Feb16. ie Chinese new year. China has a very significant role in making crypto-miners and other hardware instruments. China has a culture of celebrating their New year with great enthusiasm and Chinese people spent a lot on this festival, therefore china's crypto market remains stagnant these days and hence slowed the crypto growth at world level.

Maybe. I think yes, because China is one of the countries that really supports Bitcoin. Maybe we can assume that it will decrease its price  before and after Chinese New year. Chinese are cashouting their bitcoins in able for them to get money and they will use it in their foods. They will buy many foods and many things that they want and it will cause the Bitcoin’s price to decrease.

i think the Chinese new had a great impact on bitcoin's value today, since we can see the market going stable at 10k usd level, this might be a sign that more Chinese investors are returning since they want to have a prosperous new year ahead of them.I think we can also based it on the historical trend, that before any major occasions the value would rise weeks before then goes down a few days before and after the celebration, then comes to be stable afterwards, ten we have to wait again for another major occasion that would take place, I agree that it is somehow similar to what had happened during the holidays, but this time the percentage of the gains and loss is not high, compared last December. there are still FUDs that we see on the news but it doesn't seems to affect the value that much, since what I see is most of the investors that are HODLing today have strong hands and probably had already learned some valuable lessons in the past,. there are also those who had waited for this moment, that the price of bitcoin to go down and will probably grab mow the chance to invest, we can also see some altcoins being affected, knowing that the price of bitcoin has gone down people are taking profit from altcoins and converting them to bitcoins, thus make the value increase. also at this time of the year, the value might rise again since half of the world will be enjoying summer breaks and they will need to gain profit and then the cycle will just go on, until we reach another all time high.

it is the same as with Catolic Christmas and end of the year, traditionaly it is a great time for shares and bonds (it is I think related to some large founds realizing their profit) and since a few years it is great for Bitcoin too, but I doubt anybody has a good explanation, you know, Bitcoin is around for 9 years only and it has been seriously traded for how long - 4? 5? years. I think anything we may hear is just speculation. But the phenomenon has definitely been there all those years and this year too

I always see people claiming that following Chinese new year there is a surge in bitcoin price. Why is that exactly? Do people think that just because its Chinese new year that people don't have time to trade or invest? Or that people suddenly have more money to invest. I see that in the past BTC tends to increase in value around February, but see no reason why it should be attributed to Chinese new year.

Yes it was what I predicted too (read my post above). I don't know mechanisms behind it and I don't know how to explain it, but it just happens every year, this year too

LOL, nice symmetrical event. I believe that bitcoin after the Chinese New Year will be bullish on the month after that. And the month after the Chinese New year is March. Bitcoin will have its bull run on March.

I expected so much this Chinese New Year cause most of the salary that I have gained says that the distribution will be after Chinese New Year, and now look what happened I just put myself into expectation and they demanded for another weeks, I have been waiting this since last year and now , still waiting for it to come.

I think its true that chinese new year has a big effect at cryptocurrency Because Asian countries specially in china , account for a huge portion of crypto trading. but   i think later this month, the Chinese people will venture again into investments, including cryptocurrencies, because of the following signs in their calendar and since Chinese people are believers of their zodiac. Bitcoin is going to rise again, no matter if China and other countries banned crypto exchanges.

Yesterday, the Chinese new year came, and the cryptocurrency market began to improve significantly (turn green) . Perhaps the Chinese give gifts to each other with bitcoin and altcoins ?))

Not yet dude, chinese new year is on Feb 16 
But i think it is affecting the bitcoin and other cryptos if chinese new year has passed.
but not much i think

Here's some info for you:

Chinese attributed to 70% of Bitcoin trade (BTC-Yuan). After the ban, it's about 1%.
I'd say if there's a change, it won't be significant.

Everyone is waiting for it to end and bitcoin will soar in price, as the Chinese will join with renewed vigor!  This would be too predictable, I think the price will go up now, and the news background around bitcoin will only be positive!

You got typo, chinese new year is february 16. Anyway as i am seeing the market goes now since last week, its slowly climbing back on top now, already at 9000 $ ++ per bitcoin. I think it was a good signs and good vibes also for us believers that this might be the start of comeback.

I dont think Chinese new year would bring huge fluctuations in prices (I mean increases), but I would think after it, prices of cryptocurrency (not just bitcoin, but altcoins too) will steadily go up, and then probably from April, prices will start to increase significantly, and might hit new ATHs around May~June, but that seems a long-time in cryptos, so cannot guess much at this time.

mostly if chinese new year it's a lot of chinese people who have bitcoin they pull it into flaf money and it causes bitcoin prices to drop, and I hope after the Chinese New Year finish bitcoin prices could rise soar to the moon again.

I think chinese new year will surely help to improve the market.
People will have lots of money, and they will buy bitcoin then.
I planned to buy bitcoin as well, since when cny, my relatives will give me money, and rather than spending it uselessly, i better invest it in bitcoin and help the market to becomes better.
I hope many people buy more bitcoin so the price will slowly recover.