The crypto started the year 2018 with a crisp dipping from its all time high total marketcap from 800 billion. The FUB starts to spread around the investors and suddenly a bunch of experienced guys jumped out everywhere to claim such dipping was due to the Chinese New Year effect. The Chinese were cashing out crypto to buy stuff for the CNY celebration. I certainly laughed hard ovet that statement and took that as a complete joke. But soon I realised it seems like more than just a joke.
Seems to be a yearly dip around Chinese new year
Hmmm, it definitely looks convincing except I did not cashing out my coins for the CNY as a Chinese myself. Anyway, I was hoping they will end the celebration soon and get the hot money back in the crypto market.
Looking at the ever down trending chart, I guess the CNY is still going on. Gong Xi Fa Cai!
年初，去到最高点的货币市场开始出现下滑的迹象。当这个情况越演越烈时，有一帮经验丰富货币投资家出来安抚人心，说这是每年年头都会出现的下滑现象。主要原因是中国人都把钱从市场提出来买年货庆祝农历新年了。听起来好像很有道理，看一看今天的价格表，应该是春节还没完吧！
Posted from my blog with SteemPress : https://fr3eze.vornix.blog/the-longest-chinese-new-year-ever/
This page is synchronized from the post: ‘The longest Chinese New Year ever.’