This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.
It is not a weakness and it is a weakness at the same time. Bitcoin itself has been growing strong over the years, no doubt about that as we keep seeing more real believers who are ready to look at the long term keep popping up and even some who did not have that mindset before had to force it knowing that at this point, they have so much more to lose bailing out from the market.
However, every greedy rally in which people are FOMOing and wanting to get rich always lead to things like this, which is why I consider those movements a weak and unsustainable ones, and main reason why the best thing that is always good for any market is a consistent and steady growth.
