Is market down due to Eid of muslims? - page 8.

crypto360

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Quote from: crypto360 on June 15, 2018, 04:14:02 PM

Reading all your replies i found one comment which really makes sense, which is muslims do have to to pay zakat(charity) which is 2.5% of their annual earning. Let’s think an example for a sec, if a person(whale)has 1000 btc he will have to pay 25 btc!!

Upto my thinking this is a strong case

No one has discussed about the zakat muslims have to give to poor and discussed my case i wrote here

yanixbtc

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Quote from: crypto360 on June 14, 2018, 07:15:17 PM

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that the Muslim Eid had something to do with the market fall. It has no relation to it because the bitcoin value is falling already and it just keeps that way even without the muslim celebration. That is the markets normal behavior and that is bitcoin’s norm. With all due respect to the Muslim society I don’t think it has in some way related to the market downfall.

Singbatak

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Quote from: crypto360 on June 14, 2018, 07:15:17 PM

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

The "Eid of muslims" is not the reason that the crypto is falling today. And we should not connect it. There are so many reasons that the Bitcoin price falls and I'm sure that's not it. This can be due to the dump of big investors who manipulate the price.

bloodyvio

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i do not think it has anything to do with Eid Mubarak of Muslim
market down due to investor interest began to decrease
fomo began to disappear, unlike August last year until January this year
it is the moments of fomo cryptocurrencies rising dramatically
and now fomo began to calm down

Ineedtopee

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Lol I hardly doubt this is enough to affect the market value that much. Even if all muslim investors were to sell their crypto for gifts I'm not sure gifts would amount to that much. And also, I'm not too sure about other counties but over here muslims don't buy each other presents for eid, they gift a little money to kids

cosmoo

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That's very funny that you thinking like that

A year ago I thought that holidays can affect the price of Bitcoin too. But I began to monitor this and understood that cryptocurrencies market not that easy.

speedy963

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Quote from: damrianto on June 16, 2018, 07:06:39 AM

the atmosphere of the crypto market during Idul Fitri celebration of Muslims is very quiet, because the traders are busy with their respective family events welcome idul fitri, so it could be possible market atmosphere can be quiet and without any transaction usually before Eid fitri come the market atmosphere enlivened by the people Muslims who want to transact ..

I am just being curious how does the celebration being relevant in crypto? I know some of our brother and fellow muslims are using crypto but as far as i know it doesn't have any relevance at all. Aside from that let us respect the celebration, and let us not involve their religious belief in the economic problem. Ever since i have heard since then about them are almost negative at all, and it is like they are the ones to be blamed by every negative happenings all over the world, and even here? Oh come on. Let them celebrate peacefully.

icecream sandwich

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Quote from: crypto360 on June 14, 2018, 07:15:17 PM

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

I dont think that those things are related because that is really dont it is pure coincidence for me because muslims are not gonna sell bitcoins or cryptocurrency in that day maybe some of them but that is not because of eid of the muslims that is because of their free will amd own reasons. There are eid every year but not everytime that day comes bitcoins are falling so that is coincidence do not make some excuse for the bitcoins holiday do not affect that price it is up to the majority of us.

damrianto

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the atmosphere of the crypto market during Idul Fitri celebration of Muslims is very quiet, because the traders are busy with their respective family events welcome idul fitri, so it could be possible market atmosphere can be quiet and without any transaction usually before Eid fitri come the market atmosphere enlivened by the people Muslims who want to transact ..

Nilda

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I don’t think that any holiday will ever affect the cryptocurrency market. The Chinese New Year passed without even making a dent. That’s close to 2 billion people, almost the same number as the celebrators of the current Muslim holiday. So please, stop making trading plans based on a holiday.

etin06

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Quote from: crypto360 on June 14, 2018, 07:15:17 PM

With Eid just around the corner across the globe...

Are mulims in crypto space selling and taking their money out from crypto space to buy gifts for their loved ones causing market down?

Well that might be a partial reason for last weekend red market. We also witnessed similar thing during the Christmas and New celebration. Let see if there will be a bounce from Tuesday.

glowing10

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Quote from: tayecrypto on June 16, 2018, 06:05:22 AM

I don't think cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

This does not have to do anything with the EID. Infact market is being down now by last couple of months as it was 8k and then keep falling sometime and then rise a bit. So nothing new in this and festival as said rightly is not the reason. The reason what it could be is due to panic selling where people are not sure if it will fall further.

gabmen

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Quote from: tayecrypto on June 16, 2018, 06:05:22 AM

I don't think cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

Lol. This trend has been ongoing way before the ramadan season for muslims. It's funny to even think there's a connection whether direct or indirect. People are just trying to connect this decline to prettt much anything that's happening outside crypto

jcmansah7

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Well i beg to differ but i don't think it is as a result of the festivity of the Muslims. Cryptocurrencies are volatile and so their price can fluctuate at any point in time. Well if you are in a haste to sell some coins please hold on for a while because from crypto financial analysts green days will fall upon us in no time.

KID_28

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I think it has nothing to do with the said event, and i don't think majority of bitcoin or crypto holders are from the Muslim group. Maybe it is just a coincidence, besides the market depends upon the reaction of the crowd, i think the fall of the market nowadays is due to the news about the bitcoin manipulation blurted out by some programmers and i think it didn't work though, cryptocurrency world is still standing strong.

Tigorss

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Quote from: ubay on June 16, 2018, 06:03:20 AM

Bitcoin has nothing to do with Eid. Bitcoin has decreased in price due to the balance of other coins because we know everything needs balance. Regarding bitcoin in banned on Google and Facebook is also a major factor about this price reduction, but it will not be not too long.

yes for this matter I agree any religious celebration will not affect the value of bitcoin and any major religion could have this value could be reduced because there is more gambling like gambling world cup today.

tayecrypto

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I don't think cryptocurrency market is connected to the eid of muslim they might be coincidence and I'm not surprised with the market now because my opinion this month will be dept.

ubay

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Bitcoin has nothing to do with Eid. Bitcoin has decreased in price due to the balance of other coins because we know everything needs balance. Regarding bitcoin in banned on Google and Facebook is also a major factor about this price reduction, but it will not be not too long.

bitbunnny

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I have to say that this is the one of the most stupid explanations about Bitcoin price dump that I've ever heard. Even more than any conspiracy theory.
Realy can't understand how you have found any connection between Bitcoin market situation and muslim religious celebration.
I would realy like to hear explanation how many muslims have sold how much Bitcoin exactly to influence the market to dump the price. Get serious!

adhikari98

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There is no link between price of bitcoin going down and Eid of Muslims. Arabian countries are already very much rich, Muslims residing there don't need to sell bitcoin to purchase gifts for their festivals and Muslims who live in poor economy countries cannot afford to buy bitcoin. So, without possessing bitcoin they cannot sell either. So, it is wrong to blame Muslims for the price of bitcoin going down in the name of festivals and purchasing gifts.

Topic: Is market down due to Eid of muslims? - page 8. (Read 1184 times)