Topic: Do you think the Xmas and Holiday season, caused the drop in the price? - page 8. (Read 989 times)
December 28, 2017, 12:24:19 PM
I don't think that Bitcoin might have dropped for such a common minute reason . Bitcoin is the world's best Cryotocurrency and such a reason is not at all what Bitcoin should give for its price drop. I just said this in the previous thread , south Korea announced cyber currency crackdown. It's a highlighted news in Google news.
December 28, 2017, 12:07:48 PM
It is possible that the holiday season caused the sideways movement of BTC's price. This happened before Thanksgiving as well in November. Probably, most of those who took profit are currently enjoying their grand vacation. I personally think that these dips are golden opportunity to buy BTC at a lower price and I hope to see another rise once they got back in the game post-holiday season.
Things have really changed. Last year, bitcoin was surging ahead during the holidays, however, this year is not the case. As much that I would like to put this reason on the side, but I can't really help but to think that this is the only logical explanation for what we have seen last week when all markets bleeds for almost 2 days. Oh well, we need to accept the fact that bitcoin is money and people just cashing it out to enjoy the holidays and spend grand vacation as you have pointed out.
The holidays is a factor, we cannot control people from buying stuffs on this season, since there will be a lot of sale in the malls, a lot of people to be given presents, and the reason that not only christians celebrate cristmas season, but the whole world. We can just wait after this season is over for the prices of crypto currencies to be back on track.
But the think is, this is the first time that we have seen this occurrence. As I have said, last year was different. So I could assumed that next year, we need to be very vigilant for every holidays that are coming, specially that the price is enjoying a price increase. Let's bear in mind that we should also include holidays for a possible for investors to cash out which will result to a possible dip.
December 28, 2017, 11:35:19 AM
It is possible that the holiday season caused the sideways movement of BTC's price. This happened before Thanksgiving as well in November. Probably, most of those who took profit are currently enjoying their grand vacation. I personally think that these dips are golden opportunity to buy BTC at a lower price and I hope to see another rise once they got back in the game post-holiday season.
December 28, 2017, 10:44:37 AM
I agree with what you say if the current holiday season is going to be a lot of people who make big profits because they want to spend time on vacation for an activity during the last eleven months. and I think with so many people making big profits this holiday season of course this will be able to cause bitcoin prices will come back down. but I do not think this will last long because with the price decline it will again attract investors who want to invest with bitcoin and this of course will cause bitcoin prices will increase again.
December 28, 2017, 08:34:31 AM
I think so, because as always Christmas is about sharing. So, those holder even though they don't like to cash it out I think they will do because they will give some gifts and cash to their family, relatives and nieces.
December 28, 2017, 08:29:51 AM
So it is the Holiday season and it was Xmas. How many people dived into their Bitcoin hoard to buy Xmas gifts and also paid for a nice holiday with their family?
We saw a huge increase in the price, early in the season and this might have triggered a situation where people rewarded themselves with some "Gifts" for the holiday season.
The direct impact of that would have been a higher influx of coins onto the exchanges and if that was not met with a higher demand for coins, then it would explain the drop in the price.
Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?
yes many people want to buy gift for thier love ones so that they want to sale thier bitcoin even low prize its coz xmas We saw a huge increase in the price, early in the season and this might have triggered a situation where people rewarded themselves with some "Gifts" for the holiday season.
The direct impact of that would have been a higher influx of coins onto the exchanges and if that was not met with a higher demand for coins, then it would explain the drop in the price.
Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?
December 28, 2017, 08:27:36 AM
Christmas is a much-awaited day for some people. usually, christmas will be a moment where we can give gifts and do holiday in it. That means this moment is the time when people will spend a lot of money to celebrate. I am sure that, there are some people who earn 100% of their income from cryptocurrency so the decline that occurs in bitcoin and another cryptocurrency this month could be caused by it.
December 28, 2017, 08:27:16 AM
I think yes, it will affect the price since people are cashing out bitcoin to purchase gift an used it for holiday, but this situation can be reverse if a lot of shops already accepting bitcoin, for sure people will do transaction using bitcoin and could increase the transaction volume, and the result the price could go up, maybe in the future when shops already adapted, price will go up in holiday season
For now, I do not think that there are so many shops that want to pay in btc, may be ony particular site that really legal in the country will accept this. Most country takes bitcoin as illegal things, they do not ban it for now but they do not let people fo the transaction in buying things or even paying bills. So if you said that the dip is causing of these, I do not think so, mostly they want to party using bitcoin thst they earned, this is what I really think that is possible
December 28, 2017, 08:25:10 AM
I think yes, it will affect the price since people are cashing out bitcoin to purchase gift an used it for holiday, but this situation can be reverse if a lot of shops already accepting bitcoin, for sure people will do transaction using bitcoin and could increase the transaction volume, and the result the price could go up, maybe in the future when shops already adapted, price will go up in holiday season
That’s quite true… end of the year, which is December, is mostly when investors withdraws the investments they have made so far and calculate their profits. So it’s quite possible that might be the reason the price rate for Bitcoin is running down…or maybe, it might be because of investors going for Litecoin as some sources has predicted. But I’m not really sure, the price just got up to $16k recently December 28, 2017, 08:22:23 AM
Then many people scared of price dump and everyone started to sell their bitcoin.
It can be also a few people with many BTC willing to sell, scared of missing the jackpot... December 28, 2017, 08:22:02 AM
It might be correct to some extent to say that bitcoin holders might have sold some of their holdings to enjoy the festival celebrations.Another important reason would be that coinbase has announced that it would issue BCH to its users who had bitcoins earlier during hard fork and it would be issued on january 2018.
So,probably lots of BCH coins would get dumped at that time.So,investors are trying to make use of the BCH pump before it gets dumped next month.So,they just sold their bitcoins and bought BCH which would be the main reason for fall in bitcoin price.
So,probably lots of BCH coins would get dumped at that time.So,investors are trying to make use of the BCH pump before it gets dumped next month.So,they just sold their bitcoins and bought BCH which would be the main reason for fall in bitcoin price.
December 28, 2017, 08:16:43 AM
Yes,I think it maybe the reason because many people will spend their saving in the holidays of Christmas for buying things and other stuffs,many people store their savings in bitcoin so the need to convert the bitcoins into fiat to spend it because still bitcoin can't be used directly to buy things.So they sell their bitcoins to spend it which cause high traffic in bitcoin network so the fee keeps increasing and price decreased due to more supply.Then many people scared of price dump and everyone started to sell their bitcoin.
December 28, 2017, 08:09:43 AM
I think xmas and holiday season has also a big factor why the btc price goes down.
Many people sell thier bitcoin just to have money, to buy things needed for christmas, like buying gifts and foods.
And because christmas is over its price is slowly recovering.
But still its not safe because there still one big holiday left which is the newyear. And some people will again sold their btc just to buy things needed to celebrate newyear.
Good analysis, but more market response to hardf fork. and this moment has no effect on Bitcoin price.Many people sell thier bitcoin just to have money, to buy things needed for christmas, like buying gifts and foods.
And because christmas is over its price is slowly recovering.
But still its not safe because there still one big holiday left which is the newyear. And some people will again sold their btc just to buy things needed to celebrate newyear.
they prefer to make money rather than spend it quickly.
December 28, 2017, 07:35:38 AM
I think xmas and holiday season has also a big factor why the btc price goes down.
Many people sell thier bitcoin just to have money, to buy things needed for christmas, like buying gifts and foods.
And because christmas is over its price is slowly recovering.
But still its not safe because there still one big holiday left which is the newyear. And some people will again sold their btc just to buy things needed to celebrate newyear.
Many people sell thier bitcoin just to have money, to buy things needed for christmas, like buying gifts and foods.
And because christmas is over its price is slowly recovering.
But still its not safe because there still one big holiday left which is the newyear. And some people will again sold their btc just to buy things needed to celebrate newyear.
December 28, 2017, 06:51:01 AM
It is possible, since the flow of newcomers is closely linked to the buzz about bitcoin.
Last peak was before Xmas.
https://trends.google.com/trends/explore?date=today%203-m&q=bitcoin
Last peak was before Xmas.
https://trends.google.com/trends/explore?date=today%203-m&q=bitcoin
December 28, 2017, 06:34:52 AM
Yeah maybe it the Christmas and holiday season caused the drop in the price,
Because we would need some Fiat and if we are holding a bitcoin we would have to sell it to have some and I think there are huge number of bitcoin holder that sold their bitcoin because of the holiday.
Because we would need some Fiat and if we are holding a bitcoin we would have to sell it to have some and I think there are huge number of bitcoin holder that sold their bitcoin because of the holiday.
December 28, 2017, 06:07:01 AM
So it is the Holiday season and it was Xmas. How many people dived into their Bitcoin hoard to buy Xmas gifts and also paid for a nice holiday with their family?
We saw a huge increase in the price, early in the season and this might have triggered a situation where people rewarded themselves with some "Gifts" for the holiday season.
The direct impact of that would have been a higher influx of coins onto the exchanges and if that was not met with a higher demand for coins, then it would explain the drop in the price.
Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?
Well of course, for me it is a yes because during holiday season it is natural for people to withdraw funds from any sources they have including Bitcoin to buy foods and gifts for their love ones. This mostly happen in third world countries like where I am now which during xmas season, it is part of our culture to prepare foods and gifts. In my case, I also one of those who converted Bitcoins into local fiat money for my family's needs this holiday season. Therefore, aside from panic selling of newbies, holiday season is one of the reasons why Bitcoin and altcoins price goes down. We saw a huge increase in the price, early in the season and this might have triggered a situation where people rewarded themselves with some "Gifts" for the holiday season.
The direct impact of that would have been a higher influx of coins onto the exchanges and if that was not met with a higher demand for coins, then it would explain the drop in the price.
Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?
December 28, 2017, 05:40:34 AM
I don't think holidays influence the price big deal. Maybe in smaller range but not siginificantly, no matter that some users are cashing out their coins for spending on gifts and traveling. The last correction was caused by some other factors probably more complex than holiday season.
December 28, 2017, 05:27:18 AM
The holidays is a factor, we cannot control people from buying stuffs on this season, since there will be a lot of sale in the malls, a lot of people to be given presents, and the reason that not only christians celebrate cristmas season, but the whole world. We can just wait after this season is over for the prices of crypto currencies to be back on track.
December 28, 2017, 05:13:36 AM
It can be the reason, its holliday and this is our time to our family so many people spend their time to their family and love one and this is also our vacation maybe that's the reason why the price dump because of many people get their vacation now.
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