Topic: Is bitcoin fall because of Chinese Spring Festival? - page 2. (Read 249 times)
it looks like this annual cycle of bitcoin prices will go down because many are selling to buy gifts. so there will be a fall in prices hopefully not to fall in
this does not seem to be the only reason why the market is down this month, there are several factors that cause many investors to withdraw their money which causes the volume of cryptocurrency to decrease, the issue built so strongly, and I think the market really needs a correction
From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD? 
Not only Chinese but also many country in Asia has Luna new Year, so the Asia has the most bitcoin ịn the wold.
One of the comment here... Buying some Gift for there love once at Chinese Festival makes me since.. 
Maybe the trends become most likely before because people looking on it.
And, Thinking this will gonna be happen just like last year.
Maybe the trends become most likely before because people looking on it.
And, Thinking this will gonna be happen just like last year.
China trades a lot and also has a certain impact on the whole cryptocurrency market - mostly it is scam like tron to get some money exactly before celebrations of the spring festival...
of course is! most of the trade is in China! and therefore how to spend all the holidays and trade will begin! I hope for the restoration of the market, since I'm already tired of sitting in the minuses
I do not know if it's the impact from Chinese New Year, but I think China has a big impact on the btc price. It could actually be the new year as many Chinese may sell their btc to buy gifts for their families and friends. But I think that's just a small factor in the price erosion. We should have more confidence in btc and have more patience. Btc could be stable again in a few months and continue to rise.
Chinese people are selling bitcoin to buy gifts for the said festival. 
Also china don't literally ban crypto currency i think they just won't allow their citizen to participate in ICOs. But the can buy into exchanges.
Also china don't literally ban crypto currency i think they just won't allow their citizen to participate in ICOs. But the can buy into exchanges.
I don't think the market went down because of Chinese New Year but it probably affected it a little bit.
What makes you believe most of the transactions aren't in China? For a start, most rich Chinese investors would be using external offshore accounts, rightfully not trusting their government. Hong Kong and Singapore are the largest offshore banking destinations for them. China still holds a huge amount of the hash power for Bitcoin, so they still hold a large influence over the network. It's not so easy to trace where crypto purchases are coming from, did you get this info from exchanges directly?
From the K chart of history, I have seen a sharp drop in January to February almost every year, and lately I have seen many posts about the fall due to the Spring Festival,I don't understand, China has banned the cryptocurrency market transactions, and most of the bitcoin transactions are not in China, so why do the Chinese New Year will affect the whole cryptocurrency market, or is it just a FUD?
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