The Flower Fair is the place to come to purchase fresh flowers, fruits, candies and brand new supplies for the home to begin the new lunar year. In some countries, a statutory holiday is added on the following work day when the New Year falls on a weekend, as in the case of 2013, where the New Year's Eve (9 February) falls on Saturday and the New Year's Day (10 February) on Sunday.
BTC is controlled by Chinese -> Chinese celebrates Chinese New Year -> Increased demand for fiat for spending and red packets -> BTC holders cash out some BTC for Chinese New Year … Let’s not forget about the scale of mining operations in China before Connecting the dots, it is not difficult to see this relationship:BTC is controlled by Chinese -> Chinese celebrates Chinese New Year -> Increased demand for fiat for spending and red packets -> BTC holders cash out some BTC for Chinese New Year -> Increase sell positions in OTC markets (P2P through WeChat, Alipay, bank transfers) in weeks leading up to Chinese New Year -> Sell > Buy -> Potentially translate to ‘sell-off’ events (market cap of BTC is very small and Chinese market is massive) -> slump in BTC prices 2–4 weeks before Chinese New YearThis could the explanation for an observed calendar-related anomaly known as the ‘Reverse January Effect’ or the ‘Chinese New Year Effect’ where BTC prices tend to dip every January, which is coincidentally always 4–6 weeks before Chinese New Year.Sounds very ambiguous? While it may be still a tradition in Singapore and Hong Kong, this custom is slowly moving to the digital realm in China. Therefore, we can assume that calendar-related anomalies are likely to be present and BTC prices are likely to exhibit seasonal element.I decomposed the time series using 365-days moving average (because I wanted to examine the seasonal component in annual data). Red couplets and red lanterns are displayed on the door frames and light up the atmosphere. Also, magnitude of price changes tend to be smaller just a few days before and after Chinese New Year, possibly signalling weaker trading activity. One of the main highlights is the Chinatown celebrations.

The figures highlight the exponential upwards trend of P2P mobile payment transactions and also the seasonality of these transaction volumes.Hope this provides some context for the analysis of the relationship between the most widely celebrated festival in the world and price movement in cryptocurrency markets. Guangzhou is said to be the source of the Lunar New Year Fair. In 1849, with the discovery of gold and the ensuing In San Francisco, over 100 units participate in the annual Chinese New Year Parade held since 1958.In Paris, the celebrations have been held since the 1980s in several districts during one month with many performancesIn Pakistan, the Chinese New Year is also celebrated among the sizable The Chinese New Year is often accompanied by loud, enthusiastic greetings, often referred to as 吉祥話 (Numerous other greetings exist, some of which may be exclaimed out loud to no one in particular in specific situations. For the first day of the year observed on other lunar or lunisolar calendars, see "Chinese New Year (Lunar New Year)" in Traditional (top) and Simplified (bottom) Chinese charactersSometimes if Mid-Autumn Festival is near National Day, Mid-Autumn Festival may be in the golden week.And extremely rarely, 21 February, such as in 2033, the first occurrence since the 1645 calendar reform – Helmer Aslaksen, These usually open-air markets feature new year related products such as flowers, toys, clothing, and even fireworks and firecrackers.

The fruits that are typically selected would be oranges, tangerines, and pomelos as they are round and "golden" color symbolizing fullness and wealth.

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