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?
I do believe some of the selling did drop the price, and with that drop it did create some panic selling among some of the unsteady hands during the holiday, as someone stated earlier in this post it takes or would take a lot of panic selling and a lot of unsteady hands to bring down the price. Im quite sure of that took place, but we have all seen this type of activity before and we will see it again. But Im not selling period, hence my user name I wont sell a single satoshi until all financial hell breaks out in my particular situation, or until the price drops down to where I am on the edge of an abyss of loosing from where I stepped into this great opportunity. We are a long way from that happening. No I am holding for the long run, I have steady hands.