A week ahead of the end of Ramadan, the value of 1 bitcoin is still above 7000 thousand USD, but closer to Ied Mubarak, bitcoin value continues to fall close to 6000 USD?
For those who know and analyze, please explain the factor?
Do you think Muslims are selling their Bitcoin to celebrate the Eid Mubarak? I don't think that's the case. Do you find any correlation between Eid Mubarak and price decline in the last few years? Even IF there's a correlation, it doesn't always means causation. I doubt there's a correlation in the first place though For those who know and analyze, please explain the factor?
In general, I don't think any celebration like Eid Mubarak, Christmas, etc. affect the price at all. Markets don't care about that it seems.
Indonesia, Saudi Arabia, UAE and others, is it still not called influential?
No. How many people in those countries are using Bitcoin? Also, I doubt they store their savings for these celebrations in Bitcoin either. It's a bad idea to keep your savings for these events in volatile assets like Bitcoin.By the way, Happy Eid Mubarak!