Quote from: xebecstyx on January 08, 2018, 06:43:32 AM

Quote from: player514 on December 27, 2017, 07:24:42 AM

Quote from: Kakmakr on December 27, 2017, 07:18:13 AM

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 highly doubt that this was the case. So many people would have to pull out for this to be the case. It's possible that it's the reason that the entire downfall started, but I don't think it's a major reason. If anything, it's mostly people who are nervous after they see BTC drop by a couple of hundred. Regardless, we're on the come up again, as we always have been after drops like these, and I don't think we'll be affected too much by this drop in the future.

I think so too. I actually think that it's the opposite because since people got all sorts of bonuses during this season, it's a good time for them to use those money they gained and invest it in whatever cryptocurrency venture they choose to, which in turn, would actually boost the price of some cryptocurrencies, or specifically, bitcoin. Also, I think it just so happened that the surge came in late last year, having started around November and carried on through December.

I agree with you i personally think that they did indeed drop the prices because of holiday season and Christmas i think it will be worth the wait because they are going to rise again.