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?
This is reality Because I also seen many times times in my career of bitcoin then when we expect that During the vacation price will get rise and also price will jump at festivals but soemtimes happened totally opposite of this because people needs money during festival to celebrate and that results into high sell of cryptocurrency ( specially bitcoin ) and that reuslts into loss of money .
But still some festivals gives reverse effect that what we discussed here , like they think something new at special days and they make investment in bitcoin ( it can be moment of new year ) .,So here we can say that we should remain ready that price of bitcoin at the new year can jump again with new investors .