I would agree.
And keep in mind that as a percentage of the total number of users, the majority of Bitcoin users are not investors... They're young techies who have more than likely never traded on the stock market even once. I believe these folks are cashing out for Christmas... These aren't investors cashing out, they're your average person who put $100 in and are now seeing $10,000. A few hundred percent of gains is just too tempting for most folks, especially around this time of year.
Topic: Is there any truth to this theory on dips before holidays? (Read 572 times)
Hi,
On Reddit there's been numerous reference to dips just prior to bank holidays being linked to traders liquidating their positions just before they go on leave.
I.e, institutional traders not wishing to have coins on the exchanges while they are away (and presumably unable to trade).
Would you say there is any truth to this? The recent dip a few hours ago strangely coincides with mid-day in the London city (many enjoy half-days on Christmas eve) and Asia going home from work.
On Reddit there's been numerous reference to dips just prior to bank holidays being linked to traders liquidating their positions just before they go on leave.
I.e, institutional traders not wishing to have coins on the exchanges while they are away (and presumably unable to trade).
Would you say there is any truth to this? The recent dip a few hours ago strangely coincides with mid-day in the London city (many enjoy half-days on Christmas eve) and Asia going home from work.
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