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[NoLimits15]

I don't know if you guys noticed but bitcoin's price seems to always reduce increasingly during January. Maybe it's because of the Chinese New Year where a lot of bitcoin transactions take place causing an imbalance in the supply and demand chain. Don't forget that there are plenty of bitcoin users in China. So maybe we can see bitcoin's value to go down in the coming days. The New Year may begin at January 25...

 

[Bilalgul]

Yes there is the concept of giving red packets in China and many people their use Bitcoin so at the new year they may be taking it out to pay love to their dear ones

 

[Mbwolf]

I don't think it's related to the chinese new year but it's related to the first month of the year were people take vacations and doesn't really bother themselves with work

 

[Brain]

Well,going by your explanation it tend to make a lot of sense and it looks a genuine reason but I think it always about low activities at this time of the year which applies to other financial sector too.

 

[kaleembilal]

I didn't know about it before reading this post of yours but your explanation is quite tentative but on my behalf I totally agree with your point of view

 

[Ewogboka]

This is a possible factor, it could be that trade off more their bitcoin just to raise money to celebrate their new year which is usually a week long activities. The volume of bitcoin will increase so the price will be down.

 

[Monetizeit]

I don't know if you guys noticed but bitcoin's price seems to always reduce increasingly during January. Maybe it's because of the Chinese New Year where a lot of bitcoin transactions take place causing an imbalance in the supply and demand chain. Don't forget that there are plenty of bitcoin users in China. So maybe we can see bitcoin's value to go down in the coming days. The New Year may begin at January 25...

I didn't know it before this but now that you have mentioned it I must say now that you point is totally valid and can't be neglected at all. The number of cryptocurrency users in China is huge so that can easily be happening without us l noticing

 

[Ewogboka]

These are celebration months or Period so people sell what they have especially from investment they have made through out the year to make preparation, the stocks market most times trade negative too so it normal for bitcoin price to surge.

 

[Balint098]

Instead of Chinese lunar new year, I think corona has been affecting Bitcoin price even more. The lunar new year celebration itself were mostly cancelled all around the world.

 

[SCAMEXPOSER]

Chinese have higher interest in Crypto currencies than most countries, so whenever there is celebration the market will witness more people selling off their coins than buying so the price will drop while do who are wealthy will buy and hold them. Did you know tron and Eos rank higher than bitcoin in China?

 

[hominchen]

I dont think so. Bitcoin price is not controllable so easily. Millions of traders and investors worldwide and a single country cant bounce price much up or down. A lot of complex factors are behind price flow.

 

[Dokken]

I dont believe that only China new year influenced Bitcoin price a lot. It might be very little up or down nothing compared to natural bitcoin flow.

 

[BrolySSJ]

I don't know if you guys noticed but bitcoin's price seems to always reduce increasingly during January. Maybe it's because of the Chinese New Year where a lot of bitcoin transactions take place causing an imbalance in the supply and demand chain. Don't forget that there are plenty of bitcoin users in China. So maybe we can see bitcoin's value to go down in the coming days. The New Year may begin at January 25...

Personally i doubt that this has anything to do with the chinese new years. I think that it is just the beginning of the year and the fluctuations is because many are on holiday or they are returning to work and as such there will be fluctuations in the demand and supply which will cause the changes in the price that you are seeing.

 

[Ewogboka]

Chinese are not the major bitcoin users and their huge population is not a factor , their new holiday and celebration can't affect bitcoin prices in my opinion

 

[Zikonano]

I don't know if you guys noticed but bitcoin's price seems to always reduce increasingly during January. Maybe it's because of the Chinese New Year where a lot of bitcoin transactions take place causing an imbalance in the supply and demand chain. Don't forget that there are plenty of bitcoin users in China. So maybe we can see bitcoin's value to go down in the coming days. The New Year may begin at January 25...

Wow this is amazing, this is the first time that I notice that, and yes, after thinking about it you are right maybe bitcoin value go down because of Chinese New Year.

 

[AudraMiller]

I think that if there is a further price increase over the January period with increased demand, then we are likely to see the price of bitcoin reach 25k dollars. That would be a terrific development.

 

[SCAMEXPOSER]

I haven't take note of this though I don't think so because currently Nigeria is second after US in terms of bitcoin activities and trade volume so China which is third may not have that influence.

 

[AudraMiller]

I haven't take note of this though I don't think so because currently Nigeria is second after US in terms of bitcoin activities and trade volume so China which is third may not have that influence.

I think that the one area where the volume in crypto is starting to increase is Venezuela. They are starting to use crypto in many parts, including in their army. So they might be in close competition with these countries.

 

[UserU]

With a new ATH, maybe we might see a short dip. After all, the Chinese are pretty huge spenders especially during festive seasons.

 

[Zikonano]

I think that if there is a further price increase over the January period with increased demand, then we are likely to see the price of bitcoin reach 25k dollars. That would be a terrific development.

Yeah, I think so.
Bitcoin is worth 23,000$ right now, so at the end of this year it would be more than 25k$ and that is just amazing.
I regret not buying bitcoin when it was worth couple of hundreds, we would have been millionaires right now.