Quote from: harapan on February 20, 2018, 04:50:10 PM

Quote from: Requim on February 20, 2018, 03:25:15 PM

Quote from: ahmadoo on February 20, 2018, 12:49:32 PM

Hi everyone, as it was Chinese NY on tbe last Friday I was wandering what peoples thoughts were on its possible effect if any on the market place. This holiday obviously effects a number of countries in Sth East Asia not just China; I would think that this period could potentially see a huge number of individuals cashing in for the festivities.

What are peoples thoughts on what to expect !?! could be a lowering or market cap & another / even better buy position for your Onions..

I really think that Bitcoin and other market crashes during Chinese new year. As we all know that a huge number of investors are from Asia, and maybe they dump most of their holdings to celebrate the holiday. A lot of people are also contributing to the crash because of panic selling. This gives a good opportunity to investors because they can buy coins at cheap price.

Yes, some Asian investors sell coins to celebrate Chinese New Year and holidays with family .. this opportunity is also used by some investors to take some advantage because of the cheap price ..

I think the January/February crash we have witnessed the last few years in advance of Chinese Lunar New Year is somewhat of a self-fulfilling prophecy. I do not think that the actual effect of the new year would be so great on the market. But as people have attributed previous crashes to it I now think that many expect it and withdraw funds from the market in advance of it, thus the timing is right but the reasoning isn't exactly.

Whales are also fully able to take advantage of this to manipulate prices, if they know that there will be a reasonably sized sell off they can use that event to create panic and cause a much bigger dump.