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Author Topic: Do you think the Xmas and Holiday season, caused the drop in the price?  (Read 754 times)
Kakmakr
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December 27, 2017, 07:18:13 AM
 #1

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?

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December 27, 2017, 07:24:42 AM
 #2

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.

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December 27, 2017, 08:25:45 AM
 #3

To be honest, i didn't withdraw my bitcoin during Xmas days but others have been spending their bitcoins which might be cause of the drop in price.
May be there were more causes like some people moved to bitcoin cash but i am sure bitcoin isn't stoppable.
People are returning to bitcoin, since it was already over $19k,we can expect huge surge by the starting of january and then more increase gradually


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December 27, 2017, 08:35:35 AM
 #4

To be honest, i didn't withdraw my bitcoin during Xmas days but others have been spending their bitcoins which might be cause of the drop in price.
May be there were more causes like some people moved to bitcoin cash but i am sure bitcoin isn't stoppable.
People are returning to bitcoin, since it was already over $19k,we can expect huge surge by the starting of january and then more increase gradually


were on the same boat because i didnt withdraw my coins too , rather id withdraw it earlier today because i see that the price of bitcoin is now stable and starting to recover again.  i also need some cash today to be able to buy some supplies and groceries for our mini mart.

xmas and holiday seasons are indeed the real main reason on why bitcoin has dropped dramatically. some other factors that i think of is the correction that also happend recently however bitcoin is not yet safe because we are still close to new year (december 31 ) and people will then again expected to sell off their coins to be able to prepare for this last event.
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December 27, 2017, 08:44:37 AM
 #5

I don't think so, because not much people withdraw their bitcoin for holiday season. I see mostly they keep and hold bitcoin, because their hope end of the year bitcoin will increase or at least in january 2018. Some of people they get bonus from their job and use in holiday season. So they can save their bitcoin.
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December 27, 2017, 08:54:33 AM
 #6

Maybe, people need cash, i need cash also. If i doesn't have any cash with me the tendency will be, i will surely cash out my btc so that i have my budget with me during the holiday season.

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December 27, 2017, 09:16:14 AM
 #7

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?

That maybe one of the reasons why bitcoin price dropped because of holiday spending but the drop is one of the worst that happened to a leading cryptocurrency this year. There are some other causes that might also contributed to the massive drop of bitcoin like the fears of bitcoin bubble, the infighting between the supporters of bitcoin and bitcoin cash, hacking and regulation, possible market manipulation and high mining fees.

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December 27, 2017, 09:22:20 AM
 #8

Of course yes. the price as of today is not that high like last last week because they are now selling there  bitcoins just to have some things to buy in christmas season and new year as well. though the price is now low for sure it'll increase soon.



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December 27, 2017, 09:23:59 AM
 #9

No, I'm not with the most users who cashed out their bitcoin for the celebration of Christmas and Holiday Season. But I believe it is one of the great factor that causes the drop in bitcoin's price. I just say that the number of people who holds bitcoin increased throught the year, and most of want to enjoy Christmas with some money to spend, so that is why huge amount of bitcoin is converted.

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December 27, 2017, 09:51:27 AM
 #10

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 believe that the whales are the reason why the price of bitcoin dipped down. Including those small investors in order to have food and gifts during Christmas. We also expect that in upcoming New Year celebration, the bitcoin price will move down also. That is just my guess.

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December 27, 2017, 10:24:59 AM
 #11

I think yes, this holiday season is more likely the reason of Bitcoin and other cryptocurrency price crash this past few days, for the reason that people involved in Bitcoin and altcoins are talking/asking about it and they are expecting that most of investors (especially big investors) will cash out their Bitcoins before christmas to buy gift for their love ones and it caused panic to other people that results in panic selling. Anyway cryptocurrency market is recovering now and Bitcoin is recovering from $11k to $16k right now. I also sold some of my Bitcoins but still holds huge part of it because I'm sure that it will recover again and will hit a new record.
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December 27, 2017, 10:31:18 AM
 #12

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 remember that bitcoin and four altcoins are simultaneously dropped down during holiday season and I think that the season affects the price of cryptocurrency specially the bitcoin. Maybe for preparation or for buying an exchange gifts, that's why some investors sold their coin. We don't know how it affect to much but as we can see the price is recovering as of now.

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December 27, 2017, 10:57:43 AM
 #13

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.

That's true. It may have some effect however only a number of people must have done so, and therefore created only a small impact. There are other factors which have contributed to the price drop. Also, it was beneficial and healthy. The price was bound to go down anyways since it's been high for quite some time already; there was no surprise that it went down and it's possible that the holiday season was purely coincidental. In fact, I remember a number of people who predicted for the price to increase come Christmas season and once the year will end. Turns out that they were wrong.
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December 27, 2017, 11:01:29 AM
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Holidays certainly will influence the market of cryptocurrencies. there will be a correction. but bitcoin wont be $5000 any more, it is almost impossible. after January 15 the market will go to growth

       
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December 27, 2017, 11:14:19 AM
 #15

Not saying that it is the reason totally but may be one of the factors that caused the big drop. It is a fact that people do spend more during occasion especially Christmas ang new year holidays because it is being celebrated worldwide unlike birthdays, and other anual celebrations.
Also guessing that it will take time for the prices to recover because everyday it gets harder to gain bitcoins. Not unless people are all rich and could buy and sell their coins whenever they wanted too.
I am a solid hodler and I always prioritizes things before spending my coins.
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December 27, 2017, 11:22:15 AM
 #16

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?

Yes, this could be the reason why the price is droping so high. Bitcoiner buy a gift for their family and money is from the cash out from their bitcoin



Did you splash out with some expensive gifts and extravagant holidays with your bitcoins, during the holiday season?

Actually i have not enough money recently to spalsh expensive for my family. Just small thing is enough. Its better than nothing.

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December 27, 2017, 11:34:15 AM
 #17

Bitcoin has given far more returns to its investors. December is an end of year, followed by xmas and new year. It’s a holiday season all over the world. Lot of money invested in various markets all over the world get en cashed on the occasion of xmas and new year celebrations. This affects markets and economies all over the world. One month ago bitcoin was near $9600, till mid December it has reached $19600 mark, as new year and xmas coming near bitcoin price starts declining and now it has settled near $15600. This is nothing but purely profit booing by the investors.

   

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December 27, 2017, 11:42:12 AM
 #18

Corrections can happen any day of the year. I don't see a direct correlation between Bitcoin and Holidays.
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December 27, 2017, 11:47:26 AM
 #19

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 believe that the whales are the reason why the price of bitcoin dipped down. Including those small investors in order to have food and gifts during Christmas. We also expect that in upcoming New Year celebration, the bitcoin price will move down also. That is just my guess.

I think whales are the reason too.
I don't have any tehory and any reason, but my thoughs about what happened is a market movement.

Altcoins had the best value on ≈ May, June, July (spring) and Litecoin is the first coin to recover the same level of those dates (≈ 0.19btc on July) only in 11 days.
Other altcoins had an increment these days (sc, xrp, xem, zcash...) it's like altcoins could/try recover its old value on 2018.

I though that btc will rises to $25k until genuary/february and 2018 will be the bloody year, falling until $6k - $8k

Maybe is a casuality, but one month before to the fall, there were a lot of news about a study, here there is one of those links: https://www.coindesk.com/survey-plurality-of-bitcoin-users-think-it-can-change-world/
They said this value: $196,165.79

On 16 December btc closed on ≈$19,223

Maybe, 2018 will be the altcoin's year.
No Xmas, no taxes, only a movement. Smiley
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December 27, 2017, 12:16:19 PM
 #20

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?
Well, I think it's not about seasons but it's about because of the fork and it's about sharply higher price of bitcoin last last weeks I think it's the reason why there are little bit drop of price of bitcoin this week. But I highly encourage about some of the post here in the forum about the coming amazing price of bitcoin in next year. I am more encouraged to hold and more to wait in my price goal next year. I know that bitcoin will bit more higher price in the coming 2018.

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