Is it possible? Chinese New Year Will Push Down the Bitcoin Price

[Muhammad hussain]

I don't think the Chinese will ever do that because they are doing business on it too and if they drop the Bed Kevin N Prize they will be as selfish as the others. If they drop his prize and the people who have to buy it don't fix it because of the duties.

 

[Veetos12]

Wow! I am so glad to receive this news as this would make me to take some vital decisions regarding my bitcoin. I have a good reason to keep my bitcoin for now since this chinese new year will affect the price of bitcoin worldwide.

 

[Sheyemanu]

Concerning your question, i think it will be effective in both ways of rise and down ,it also highly possible for any event to affect the price of the coin but I think it would be temporary because it increased in the past.i hope so I can finally buy some coin and I’ll also advise the holder because bitcoin would soon hit a very high price before the year end. All rests on the supply and demand

 

[Muhammadawais]

The network will become more decentralized and secure, as China will no longer be able to control bitcoin mining. Although China may still have reasons to kill the bitcoin, it will not have the means to do so if the NDRC is proposed. Eliasson is the founder and CEO of the blockchain company AG.

 

[Hasan Raza]

It very well may be powerful in the two different ways rise ir down, yet now and then it expands like expanded in past as of now, so might be it will increment here too yet not unquestionably. It will have a little effect of value diagram of BTC, These things affected in past to BTC cost.

 

[Samuel77]

According to my own point of view l believe Chinese New year cannot affect the price of Bitcoin and one country can not distabilized the value and price of Bitcoin in the market place I believe bitcoin remains how it is and if possible bitcoin might gain more value in the market

 

[Kelvin7656]

Chinese New Year (Lunar New Year) has strong influence on cryptocurrency prices, with Bitcoin prices decreasing in the months leading up to the New Year. This article examines the trend and the possible reasons for why it happens. Chinese New Year is celebrated on a different day each year as it is based on the Lunar Calendar. In 2020 it started on Saturday, 25 January and ended on Monday, 27 January.

 

[Ravish]

Whatever the business, if you are an expert in it, you can grow in it and earn your profit. If you want to grow in it, you must first search it thoroughly.

 

[Sidradoll]

I think the price of Bitcoin will push down on the Chinese New Year on February 12, 2021. During the Lunar New Year holiday, it is estimated that there will be selling pressure on Bitcoin for the short term, so it is a golden opportunity to buy Bitcoin, and Bitcoin price volatility will last for a few weeks, so will mine more pressure on the Bitcoin price correction. Currently more than 60% of global Bitcoin miners are in China, and if they cash out some of their Bitcoin the price will go down. What do you think?

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[Romanmam]

Essentially, these manipulative traders leverage their positions across a number of exchanges and a number of trading products: “it seems that the Bitcoin price is manipulated by sophisticated traders who use several exchanges (regulated and unregulated) in parallel to impact the Bitcoin price by buying or selling huge .

 

[Goodday]

I read many articles online about how the Chinese new year normally affect the price of crypto currencies especially bitcoin in the past. But I don't think this year there will be a bad effect on bitcoin again from the Chinese miners. Even though they might sell off some bitcoins, l still guess it can bring bitcoin down more than 5%

 

[Planet408]

I doubt if the Chinese new year will ever affect Bitcoin price in anyway. Most of those Chinese big traders are on so much profits. They can't really tamper with their bitcoins so much to the extent of affecting the market value of Bitcoin.

 

[BTCBEE]

I think the price of Bitcoin will push down on the Chinese New Year on February 12, 2021. During the Lunar New Year holiday, it is estimated that there will be selling pressure on Bitcoin for the short term, so it is a golden opportunity to buy Bitcoin, and Bitcoin price volatility will last for a few weeks, so will mine more pressure on the Bitcoin price correction. Currently more than 60% of global Bitcoin miners are in China, and if they cash out some of their Bitcoin the price will go down. What do you think?

hmm if it is true then bitcoin value will down as it was earlier or will come down a little bit. do you think chinese people buy bitcoin a lot or you are guessing it. you know there is texla electric group elen musk owned 2.5 million bitcoin and raised value of it

 

[Akinwale701]

I think the price of Bitcoin will push down on the Chinese New Year on February 12, 2021. During the Lunar New Year holiday, it is estimated that there will be selling pressure on Bitcoin for the short term, so it is a golden opportunity to buy Bitcoin, and Bitcoin price volatility will last for a few weeks, so will mine more pressure on the Bitcoin price correction. Currently more than 60% of global Bitcoin miners are in China, and if they cash out some of their Bitcoin the price will go down. What do you think?

Yes, bro. I quite agree with you. Dog breeding and consumption is accepted here in my town in Nigeria but my family personally doesn't like the meat from dog due to the health challenges it might pose consuming such meat

 

[LaylaG]

This is actually something I do not have a good understanding about because I'm not always interested in the Chinese names and kryptonians are only concentrate in investing my money in the bank or any other offline investment company. That is all.

 

[Suba]

This is actually something I do not have a good understanding about because I'm not always interested in the Chinese names and kryptonians are only concentrate in investing my money in the bank or any other offline investment company. That is all.

Bizdustry is a discussion forum so we have to discuss scientifically and theoretically or based on experience, we should not discriminate against countries and their logos. In this thread I do not discuss investment issues but the influence of the Chinese New Year on the price of Bitcoin.

 

[LaylaG]

Bizdustry is a discussion forum so we have to discuss scientifically and theoretically or based on experience, we should not discriminate against countries and their logos. In this thread I do not discuss investment issues but the influence of the Chinese New Year on the price of Bitcoin.

I'm so sorry about that I didn't mean to discriminate about any country or religion, just that I do not have a deep understanding about the influence and how the Chinese arrange their own calendars and so on that is what I was trying to say.

 

[Onachukwu]

Chinese New Year (Lunar New Year) has strong influence on cryptocurrency prices, with Bitcoin prices decreasing in the months leading up to the New Year. This article examines the trend and the possible reasons for why it happens. Chinese New Year is celebrated on a different day each year as it is based on the Lunar Calendar.
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Chinese New Year (Lunar New Year) has strong influence on cryptocurrency prices, with Bitcoin prices decreasing in the months leading up to the New Year. This article examines the trend and the possible reasons for why it happens. Chinese New Year is celebrated on a different day each year as it is based on the Lunar Calendar.

 

[Romanmam]

hmm if it is true then bitcoin value will down as it was earlier or will come down a little bit. do you think chinese people buy bitcoin a lot or you are guessing it. you know there is texla electric group elen musk owned 2.5 million bitcoin and raised value of it

According to CryptoQuant CEO Ki-Young Ju, the reason for the drop can be partly attributed to crypto whales who began to deposit large volumes of their Bitcoin holdings to exchanges in order to cash in on BTC's record highs. ... This totaled to over $1.6 billion worth of BTC.

 

[BTCBEE]

According to CryptoQuant CEO Ki-Young Ju, the reason for the drop can be partly attributed to crypto whales who began to deposit large volumes of their Bitcoin holdings to exchanges in order to cash in on BTC's record highs. ... This totaled to over $1.6 billion worth of BTC.

yes friend you are right as you are writing here. well lets see when they will sell their bitcoin and it will come down so that small investor can but some bitcoin satoshi to get a smart profit . may be after February