Ninjastic
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Re: Chinese New Year 2019
by
gabbie2010
on 19/01/2019, 16:06:06 UTC
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?


The Chinese new year wouldn't have much impact as more countries are having more adoption of bitcoin  thus withdrawal of Cryptos to Fiat shouldn't cause more dumps as the market had already been saturated with the bears for a very long period of time.