I'm only 2-3 months into the crypto world. Question, could asian new year also result in more withdraws? Thanks for sharing.
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I'm only 2-3 months into the crypto world. Question, could asian new year also result in more withdraws? Thanks for sharing.
It has a huge impact on stocks and the crypto market every year.
I read somewhere recently that, historically, the negative effects of Chinese New Year on the markets taper off about two to three weeks before the holiday begins.
It really taper off before it even begins? I don't really get why this make any sense; I would expect it to recuperate a few weeks after it ends?
Thanks valth!
Thanks for the comment wk93. Good to know for next year ;)
Yes, in the last few years it has impacted it very much. In the beginning of January the price falls because people withdraw crypto to have more money to spend on the New Year celebration, but a lot tend to get reinvested after the celebration is over (Feb 16th is this year).
This is what I was trying to say... The sell-off from Chinese investors ends a couple weeks before their new year, and in the days/weeks after they re-enter the market.
From what I've read.
Ah, alright! I must have misunderstood your original comment then. Thanks for clarifying :)