Christmas collapse: how China can the stock market drop after a few days?

Date:

2019-02-06 10:15:14

Views:

93

Rating:

1Like 0Dislike

Share:

Christmas collapse: how China can the stock market drop after a few days?

History of China gave us the Great wall of China «the Art of war». To the question of cryptocurrencies China also came up in a big way — even in 2017, the country banned online trade coins. However, this does not prevent local investors to exchange coins on exchanges because the prohibition does not apply to peer-to-peer and OTC trading.

The Upcoming Chinese New year may be another cause of the fall . The celebration in the most populous country in the world would entail the withdrawal of a huge number of bitcoins in Fiat currency and the potential collapse of the market. According to preliminary estimates, in the coming couple of weeks China will leave tens of millions of citizens to spend new year holidays abroad.

the

the Bear New year

The First celebration began on January 28, however the official New year in China begins on 5 February. Various national festivals will take place until February 19.

How all this will affect trading Bitcoin? Despite the restrictions, millions of Chinese captainvalor use VPN and make a significant proportion of liquidity in the auction. Even the largest crypto currency exchange Binance, which had previously been registered in China, left the country to continue their business.

Perhaps the fall of Bitcoin 27 January was partly connected with the Chinese New year. We will remind, several days ago the main cryptocurrency was trading above $ 3,500, but 24 hours later its value drastically fell to a support line in the area of 3349 dollars.

Source: World News

Let's hope the Chinese are not withdraw too much money from the capitalization of the stock market. February was almost always a month for the price of Bitcoin, maybe this time the trend will remain the same. After the end of the festivities, you can also expect the growth of altcoins, which are considered among local investors.

Recommended

4000 is nothing. Bitcoin will definitely grow to 400 thousand dollars

4000 is nothing. Bitcoin will definitely grow to 400 thousand dollars

Many analysts believe that the bearish trend has come to an end, and then we will see only the growth of the stock market. Last year was one of the most unprofitable assets, however, by the beginning of 2020 cryptocurrency will still be able to bring...

Bitmain wants to launch in China 200 thousand Asimov. Mining alive?

Bitmain wants to launch in China 200 thousand Asimov. Mining alive?

In a CoinDesk appeared information about the fact that one of the largest worldwide producers of mining equipment, Bitmain is planning to take advantage of cheap hydropower. The company is going to launch 200 thousand installations in the Chinese pro...

Founder of Tron trolls Vitalik Buterin. What could be the reason?

Founder of Tron trolls Vitalik Buterin. What could be the reason?

Long skirmish between acne Butterini and founder of Tron Justin San Twitter has become one of the most exciting shows in cryptosphere. Marketing guru San makes every effort to coin his projects and ultimately surpassed the second most popular in the ...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

Bitcoin is greatly undervalued and should be worth 10 thousand dollars

Bitcoin is greatly undervalued and should be worth 10 thousand dollars

One of the leading cryptanalysts in Twitter account under the name PlanB said on his page that at the moment greatly underestimated. As noted PlanB in response to the comment about basic status and Bitcoin value, BTC is similar to...

Expert: cuts in rewards per block Bitcoin and Ethereum will lead to the growth of the stock market

Expert: cuts in rewards per block Bitcoin and Ethereum will lead to the growth of the stock market

In the last 72 hours of the stock market capitalization grew by $ 3 billion amid the consolidation of positions and . Both of bitcoin has risen about 3 percent from January 29 and continue to move in a narrow channel. Trader under...

The results of the week: Ethereum hold above $ 100. The bulls are back in business

The results of the week: Ethereum hold above $ 100. The bulls are back in business

fortunately, still managed to hold above $ 100 this week. Cryptocurrency can grow in the near future, but it will first have to overcome the important resistance area of $ 114. Perhaps this will help the issue of ETH and an increa...