The Chinese New year, Bitcoin and everything in-between.

[Kayzzy3]

The Chinese New year is upon us and many crypto pundits are back at work predicting, wishing and counter-predicting, after reading a couple things that has been said I realized how certain events sets the pace for economic activities.

One very prominent prediction making the rounds is that many Bitcoin holder will want to sell or convert to Fiat cash because of the need for cash to spend in this period then dipping the price of Bitcoin further.

what do you think? If this becomes true how low do you think the price will go?

 

[Trojan8]

I don't know how much of bitcoins is in control of the Chinese. But I don't really see it having much of a significant difference on the price of bitcoin. New Year celebrations is just one day and even if something like that were to happen. The market would definitely pick itself back up in a few days.

 

[Ralphjoe]

It's very true that the Chinese New year goes a long way in determining the prices of cryptocurrencies in the market because the Chinese are actually the biggest holder of Bitcoin in the world and in the Chinese New year the Chinese would mostly dump their bitcoin because they would want money to celebrate their New year and that will lead to a very big reduction in the price of Bitcoin.

 

[Nomad]

China is not very tolerant of bitcoin, it has banned bitcoin multiple times and everything it banned bitcoins the price has gown down steeply. Interestingly, the Chinese people are very interested in bitcoin mining

 

[Dowenship]

China is not very tolerant of bitcoin, it has banned bitcoin multiple times and everything it banned bitcoins the price has gown down steeply. Interestingly, the Chinese people are very interested in bitcoin mining

you will discovered that they have ban bitcoin, and this news kept coming up. Its because they are only trying to create FUD. Bitcoin is still mined in china til today..

 

[GoldenLady]

you will discovered that they have ban bitcoin, and this news kept coming up. Its because they are only trying to create FUD. Bitcoin is still mined in china til today..

Even when they ban mining and cryptocurrency transactions alike, it still doesn't stop the growth of cryptocurrency. They may probably come to regret this line of action soon.

 

[Ezekiel]

It very through but I feel it is of advantage to people who will be purchasing the Bitcoin coin and other coin at this moment,and I am not certain of the price range

 

[Josephjossy]

When it's events time, crypto currency always go down in price, I don't know if someone else have noticed it. I have been wondering why it is so. I think that is the case in the Chinese new year. But why did it always happens that way. And after the event period, the price will go up again