There is a lot of panic on the forums (as usual) about the sudden decline in Bitcoin. However, to be honest I was expecting it. It’s just normal for this time of year. Any forex trader will tell you there are 2 weeks over the Christmas period when the best thing to do is to take your money out of the markets and go for a nice cup of tea.
Bitcoin is no different. This picture above is exactly the same as last year. When there was a sudden drop at Christmas. Remember that Bitcoin has been hyped up a bit by the media, but I don’t think the drop actually is because of a lack of interest. Simply that at this time of year there is a lot of profit taking.
- Traders want to close their positions before the Christmas Break
- People want to buy presents
- The markets always lack volatility this time of year
So what happens if you have Bitcoin. Hold it. Don’t panic, don’t panic sell. Last year exactly the same thing happened and then around Jan 1st/2nd… You can see it climb back up.
If you are looking to buy Bitcoin I would suggest waiting until Jan 2nd, although it won’t hurt to buy it now, just be careful as it could fall further.
Please note, in this world, anything can happen but that’s my best guess. If you invest please do your own research as this article is for education only. If you make a fortune, don’t forget to donate to this website!
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