Here’s why we’ve got huge dips on Bitcoin and altcoins.
In this article I will attach links to some news which affected on cryptocurrency prices, also I will show some charts which shows as that similar dips has been every year before Chinese New Year – Lunar.
According to coindesk.com - Bitcoin dropped down 1300$ in just 1,5h.
Read more: https://www.coindesk.com/bitcoins-price-just-dropped-over-1300-in-1-5-hours/
China cryptocurrency markets BAN.
*Beijing plans to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading, Bloomberg said, citing unnamed sources.
*Chinese authorities will also target people and companies that provide market-making, settlement and clearing services for centralized trading.
Read more:
https://www.cnbc.com/2018/01/15/china-is-reportedly-raising-the-bar-on-its-cryptocurrency-crackdown.html
https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading
https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/
Chinese New Year
As you can see on screenshot bellow, dips like we’ve got right now has been happened every year around January, the exact dates of the day is always different because New Year in China is always at different date. Chinese New Year always falls somewhere between January 21 and February 20. In 2018, Chinese New Year will be on Friday, February 16. The first day of Chinese New Year is on the new moon at the end of the existing year. This starts the first month of the Chinese calendar. It's usually the second new moon after the winter solstice. Because the lunar cycle does not line up with the sun-based calendar used by most of the western world, the date of Chinese New Year changes every year - much like the dates of Easter, Eid and other cultural and religious festivals based on the moon.
Read about World's Largest Human Migration - article has 1 year, but that is the same scenario.
https://www.forbes.com/sites/ywang/2017/01/26/worlds-largest-human-migration-begins-chinese-new-year-2017/#134e4938999a
Look at the screenshots :
And at the top of that when people see that market going down they start panicking, and that becomes panic sell which makes higher dips.
My advice is if you have already money invested in crypto and you want to hold it– just hold, don’t panic, keep calm. If you wanted to invest money check exactly the market, check the news (remember to separate good news from fake news) and you should decide yourself if it’s good time to buy on the dips or not, you are the person who is responsible for the decision you make. I don’t know and you don’t know what happen tomorrow, if the market goes down dipper or goes back and Bitcoin make new ATH.
Do Your Own Research.