I finally understand now why Neo, OmiseGo, TenX and all other cryptocurrencies are not moving at all!
I finally understand now why Neo, OmiseGo and TenX are not moving at all! Or at least it does make sense in theory...
Neo - China
OmiseGo - Japan
TenX - Singapore
These are countries that has "Ghost Month" every August of the year. They believe it is particularly bad time to invest money into anything.
This 2017, Ghost Month lands on August 22 to September 19.
Every year as the month of August comes, people in the stock market become fearful of the ghost month. Many advise to avoid investing during this time, as it is considered bad luck.
According to Chinese tradition, particularly Buddhists and Taoists, the Festival of the Hungry Ghost is when the gates of hell are opened and spirits from there go out and roam the earth.
According to superstition, one must focus on honoring the spirits that are visiting earth during this time.
Read also: http://bworldonline.com/stocks-dip-thin-trade-ghost-month-starts/
So, don't panic and take it slow, HODL.
Thnx for the read!
Lol... If this is true.
Very usefull, thank you!
not true la, I am from singapore. Ghost month we do more business, only no renovation and no shifting house only
happy to see a fellow singaporean here!
hahaha singaporeans gotta chime in, when i saw this i was abit like simi taiji?!
It may be false but if everyone in the west believes it to be true, perhaps the self fulfilling prophesy is at work here.
it's not useful! it's lame!!!
its more than lame its stupid
It's more than stupid it's poopy
Wow 3 very edgy responses, good job kids.
sounds like some reddit comments to me
Dumb head.
Poppy butt.
Fart monster.....
You may have a little something; however NEO went from $31.60 up to $43.56 on Aug 22nd and Aug 23rd...... of course their marketing dept was focused on selling to the WEST, ie; United States ~ & Revv Nissan~! lol .. Accumulate OMG under $10--and QTUM who DOES market to China has gone from $13 to over $16 recently..... still ,, agree with you,,, "don't panic and take it slow, HODL"
Thank you!
Price went up just before the Ghost Month, and then it started declining. I actually bought around that period before the price start skinny dipping again and settled at current satoshi rates.
Not sure, but I myself (a Malaysian Chinese - Buddhist) does not follow such a "tradition".
Really good argument @reminescu. I think actually the current situation is also because of the FUD produced by Bitcoin community. But I really liked your thoughts, is true that the big money is used to "sell in May and go away" and Asia is really into superstitions. I'm hodling specially these three without any idea of selling it in the short-term. Thanks for the writing!
Please tell me what FUD means
FEAR, UNCERTAINTY and DOUBT - FUD
Fucked up data
Thank you!
Nope.
https://thebitcoin.pub/t/tenx-omg-neo-ghost-month-pure-fud/4034
LTC is China but price movement is ramping up high, are they not superstitious ?
I didnt see the price ramping up high in the last Month. What the main message of the Post is that the Asian moby dicks are missing this month.... Remember when LTC pumped 60% or so mainly through south Korean and Chinese money?
good point
Hahaha I think it might be the reason just HODL!
interesting theory. we ll see
This makes sense, honestly. Good find, nice job!
Thank you!