Back in early January/2018 Art Cashin from UBS said on CNBC, there might be a chance those celebrating Chinese Lunar New Year might sell Cryptos and Bitcoin ahead of the festivities (to feel safe, to raise cash, because it marks the end of the year of the rooster, many reasons why they would want to do so). It turns out as we saw the February trough in equities, in Bitcoin and in all other Cryptos - there was truth in Art's statement he made many weeks ago. It is bizarre how buyers get back in during the Chinese Lunar New Year festivities. It reminds me of all the new Coinbase accounts created over the Thanksgiving holiday 2017!!! People talk over dinner about investing, making money and fulfilling their financial dreams during the Chinese holidays or they travel abroad and get free world wide web without VPN. There is a certain feel good factor. And all of a sudden, the buyers come back to Crypto. Or is it all coincidence? Does this remind us which specific geographic region holds the majority of the Crypto market? Do you remember the January/February 2016 equity sell of based on recession fears and China fears? It all came back after Chinese Lunar New Year. I take this as another sign Crypto and Bitcoin is moving more mainstream into the financial sector as a BRAND NEW ASSET CLASS!
