I didn't know what Eid at first but after searching it, I found it as a religious event that is going to happen all over the world, a celebration for muslims.
Speculation
Although it is a worldwide festival I don't see it coming after cryptocurrency prices mainly the bitcoin, I don't see anything that might affect the digital world over this event. As we all see, the halving that took place turns out to be non related stuff for the price of bitcoin which exactly is a direct hit to bitcoin. And to altcoins, I cannot see it coming also. But let's see what could happen nonetheless.
Topic: predictions and speculations on the price of bitcoin and altcoin approaching Eid - page 2. (Read 247 times)
May 13, 2020, 08:43:55 AM
May 13, 2020, 08:42:15 AM
What will happen about the price of bitcoin and altcoin before Eid? whether bitcoin and altcoin will reduce prices because of course there are many people who want to sell their assets in preparation for Eid, of course for those who want to celebrate, maybe even vice versa prices will rise at a higher rate, what will happen how speculation traders and investors think here?
There are no correlations what so ever to religious holidays. The price is based on supply and demand, it might be just coincidence that the price move sharply, let's say during Christmas holiday or like the Chinese New Year. So I have my reservations here, if ever Bitcoin goes up during this Eid al Fitr (May 23-24) it's probably accidental.
May 13, 2020, 08:41:10 AM
It's just makes me laugh 😂 to compare bitcoin prices with Eid. I mean who is care about Eid. Their is no impact on btc price before Eid or after Eid. More adoption and demand will increase price of btc.
May 13, 2020, 08:06:34 AM
What will happen about the price of bitcoin and altcoin before Eid? whether bitcoin and altcoin will reduce prices because of course there are many people who want to sell their assets in preparation for Eid, of course for those who want to celebrate, maybe even vice versa prices will rise at a higher rate, what will happen how speculation traders and investors think here?
The most Bitcoin user countries are the US, China, Britain and South Korea. US 32%, China 29% United Kingdom 16%. If analyzed through the religion of the majority of users I think there will be no big impact. So I think the halving effect is still the main fundamental news, not Eid. So there is no fundamental speculation regarding Eid, this is a purely technical analysis and fundamental halving and the two history halving effect.
Source
http://apaitubitcoin.com/negara-pengguna-bitcoin-terbanyak/
https://medium.com/@digitalexchangeid/negara-pengguna-bitcoin-terbanyak-pertama-adalah-amerika-serikat-2186215aff44
May 13, 2020, 07:12:23 AM
I agree with @Fundamentals Of, nothing will happen both Bitcoin and altcoin.
Because as I see most percentage of muslim populations of many country is banning cryptocurrency, such as Algeria, Egypt, Morocco, Pakistan, etc. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory .
Also, I think many people will not do too much preparation for celebrating Eid since we're in lock down and many people lost their job. They'll prefer to save their money and use it for buy foods.
Because as I see most percentage of muslim populations of many country is banning cryptocurrency, such as Algeria, Egypt, Morocco, Pakistan, etc. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory .
Also, I think many people will not do too much preparation for celebrating Eid since we're in lock down and many people lost their job. They'll prefer to save their money and use it for buy foods.
May 13, 2020, 05:45:24 AM
What will happen about the price of bitcoin and altcoin before Eid? whether bitcoin and altcoin will reduce prices because of course there are many people who want to sell their assets in preparation for Eid, of course for those who want to celebrate, maybe even vice versa prices will rise at a higher rate, what will happen how speculation traders and investors think here?
Nothing will happen to the prices of Bitcoin and altcoins because of the incoming Eid. That has virtually no influence to the price of Bitcoin and altcoins. If there are some people who will sell Bitcoin and altcoins before Eid, the number will be too few that it will have no material effect to the market.
May 13, 2020, 05:30:04 AM
What will happen about the price of bitcoin and altcoin before Eid? whether bitcoin and altcoin will reduce prices because of course there are many people who want to sell their assets in preparation for Eid, of course for those who want to celebrate, maybe even vice versa prices will rise at a higher rate, what will happen how speculation traders and investors think here?
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