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Author Topic: Why did Bitcoin drop in value over Christmas?  (Read 2806 times)
Gloober
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December 27, 2015, 10:41:35 PM
 #41

There is no logic explanation published so far.

My presumption is that some kind of action triggered panic selling and the other exchanges followed this dip.

The logical explanation is retailers who accepted bitcoin are cashing out into fiat after the christmas sales period.

Retailers cashing out always hurts the bitcoin price. Businesses need to keep bitcoin as bitcoin. And bitcoin consumers need to be careful about spending btc with businesses who convert to fiat.



This sounds like a legimate reason. Altough why would they do it on christmas day? Wouldn't it better to enjoy christmas with family and then
sell it today?

I believe hat some big whale also decided to sell his coins.

These are all quite realistic reasons for people to sell. I think most of the people who sold, made profits off it and were able to spend a little extra on their families because of that. They are probably buying back in January and hold for a bit to gain back some profits.
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December 28, 2015, 04:47:31 AM
 #42

I believe in years to come people will be telling stories of how they had x amount of btc in 2015. They will then be asked why they aren't now rich as Bitcoin has now become widely used and therefore the price is very high.

This is when the idiot has to admit selling his btc due to making $chump change profit at xmas that year and not buying back in when they could.

We cannot be sure that bitcoins would be widely used after 10-20 years as now to people doubt its existence. Selling bitcoins is not a bad thing as money in hand is aways worth rather than holding it for years and then counting the losses. This I can say as people are still regretting buying bitcoins when the price was $1000 or more.
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December 28, 2015, 08:53:37 AM
 #43

I believe in years to come people will be telling stories of how they had x amount of btc in 2015. They will then be asked why they aren't now rich as Bitcoin has now become widely used and therefore the price is very high.

This is when the idiot has to admit selling his btc due to making $chump change profit at xmas that year and not buying back in when they could.

We cannot be sure that bitcoins would be widely used after 10-20 years as now to people doubt its existence. Selling bitcoins is not a bad thing as money in hand is aways worth rather than holding it for years and then counting the losses. This I can say as people are still regretting buying bitcoins when the price was $1000 or more.


No one should actually regret, some think that Bitcoins are ponzi...
Just take a minute and think, if Bitcoins were ponzi, then it should have been completely destroyed when that dump took place from $1.2k to $120...
Some would have made more than x1000 with their old mined coins, while some would have lost, but only if they sold, else the opportunity is still there, but they need to wait, else if they got out, it's their decision...

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March 15, 2016, 09:11:52 AM
 #44

I can see it dropping before Christmas as people want money for presents, but why has it dropped over the last 24 hours?
It's gone from £308 to £280. It looks as if it might be a good time to buy.

when price is so low, of course that it is good time to buy, and i think price drops low before and after Christmas because

people buy bitcoins as a gift to family and/or friends, and after Christmas, they sell bitcoins for money, so price drops even week after it

 
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