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 really do think so. And now that holidays are about to end, we may now expect for continuous increase on its market value. I didn't do the same thing which is to sell lately even if the market price of Bitcoin is falling. And I think it will be a benefit of the doubt that I believe backdrops which recently happened is just because f the holidays and will now start to climb its way up and become more expensive. It also means bigger profit.