RE: Bitcoin BTC - Feb 13 Detailed Technical Analysis - Indecision in Market. Bull + Bear Scenario. Reaching Critical Points.
Philakone what effect is the lunar Chinese New Year celebration having on volume in this market? From what I understand this holiday period is observed by close to 2 billion people in Asia. Most of them have the week off and are celebrating with their families, similar to the Christmas holiday in the Western world. Could this be a sign of strength if Bitcoin can still tread water with over half of the market not participating at the moment? Chinese New Years concludes on Friday 16 th . Is it reasonable to expect there could be increased volume from buying when half the market comes back and are looking for ways to spend some of the money in those red envelopes passed around for Chinese New Year? What are everybodies thoughts on this and thanks again for all the effort you put into educating all the minnows, mini dolphins, and baby whales Philakone!?!?
I am guessing It should have the same impacts as christmas. However there are so much hidden walls war recently, I feel like the market is currently manipulated by the rich. Instead of predicting what lunar chinese new year will do to the market, it may be more beneficial to predict what the rich are trying to do?
There definitely are some whales in the crypto space that influence price.