Quote from: capitan_rocotan on January 16, 2019, 05:50:15 AM

Quote from: Awkward_Public_Stoner on January 15, 2019, 09:23:01 PM

So historically bitcoin price tanks around Chinese New Year, starting around 23 days before the event. (https://steemit.com/cryptocurrency/@budz82/coincidence-multi-year-bitcoin-crash-pattern-like-clockwork-btc-has-crashed-25-35-for-4-years-in-a-row-23-24-days-before-chinese)

Chinese New Year 2019 is February 5th, which means we are in the middle of the 23-day-period approaching the big bang. What do you think? Do you believe in the Chinese-New-Year-Theory? Think we have bottomed yet price-wise or will it go down further?

To be honest, this theory seems ridiculous to me. Bitcoin and the entire market cannot rise like this because of a holiday in one country. Here everything is much more complicated.

Also let's remember China has done all they can remove China from the Bitcoin market. When China accounted for the majority of bitcoin trading perhaps the China New Year actually had an effect, at this point China can't do much to negatively affect the Bitcoin price, and I certainly don't think a holiday in China is gonna do anything.