Post
Topic
Board Speculation
Re: Chinese New Year 2019
by
myohmy81
on 20/01/2019, 01:45:04 UTC
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?


Chinese New Year can affect the market price if those Chinese will sell their bitcoin as they need to money for their spending but with the current market price I don't think that Chinese investors will sell their bitcoin because the price has little difference from the bottom. Anyways as long as those manipulators will not take advantage on the Chinese holiday this can't shaking the market price.