It very close to the bitcoin halving. Do any big BTC holders have any intention of buying something with their BTC? Are any going to continue holding. One of my friends is planning on buying a phone. He has been storing up for a long time.
It's funny, you know... everyone thinks that it will automatically go up in price because of the halving, which isn't the case...
You still have coins being mined and being put on the markets for sell... I understand having a lower amount of coins on the market, but if you have people that have bought all the coins they want before the halving and then afterward people don't have any more cash they are willing to convert to bitcoins, then you have a problem.
Simply put, if you don't have people continually putting in money AFTER the halving... then the price isn't going to do anything, and actually will probably go down since people will lose faith in the "rocket 2 da moon" promise people have given them in the past.