With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!
I think that it can happen due to people spending their savings for Christmas presents. Many people buy really expensive things during this period of time, so they sell their
BTC savings in order to get large sums of fiat money, so cryptocurencies become cheaper. So, I think, these fluctuations are dependent on seasonal market trends.