With the holidays being here I don’t think people have a lot of dry powder to throw at the market right now. A shame because I don’t think we’ve seen the high yet for this cycle. It does seem like a possibility that this could be the last chance you will get to buy Bitcoin below $100,000 for possibly several years.
Low prices are blessings which relatively few people understands. I think somehow the reasons behind the dip is people cashing in on their investments to celebrate Christmas. I would not condemn them though since that may be the intention behind their gamble with bitcoin recently, they achieved their aim, sold at higher prices and continued their life. However, that is being short-sighted from my perspective and undermining the investment opportunity bitcoin provided them for relatively short-term benefits.
Those who sold their holdings currently are weaker hands and it is important they are shaken off so intentional and serious investors can expand their portfolios with more accumulation of bitcoin, same bitcoin the weaker hands sold off and even more to further enlarge their benefit potentials in bitcoin. Some people are blinded to the full potentials of bitcoin, hence they just gamble with it, such people are always saddled with regrets when they see opportunities they wasted to becoming rich simply because of their greed and interest in short-term benefits.