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Indrawan77
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December 28, 2017, 12:19:01 AM |
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I think yes, it will affect the price since people are cashing out bitcoin to purchase gift an used it for holiday, but this situation can be reverse if a lot of shops already accepting bitcoin, for sure people will do transaction using bitcoin and could increase the transaction volume, and the result the price could go up, maybe in the future when shops already adapted, price will go up in holiday season
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Drixy
Full Member
 Offline
Activity: 168
Merit: 100
reading.......
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December 28, 2017, 12:49:15 AM |
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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?
There's a High possibility that it is the cause of the big dip. Christmas means giving i think they sold a bit of their BTC's for christmas i think everyone does. Theres no doubt christmas has a big effect to the value but we do hope so that it will recover after the year ends. |
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pginvest
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December 28, 2017, 12:58:43 AM |
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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 had this idea a few days a go as well and looked back over the last few years data on Coinmarketcap - there was nothing conclusive that I could draw from it. I think that the market is a little thinner at the holidays and if someone want to drive the market in a direction it is a good time to play antics - but that is just my paranoia. |
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Butchick
Full Member
Offline
Activity: 392
Merit: 101
dApps Development Automation Platform
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December 28, 2017, 01:08:27 AM |
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It is possible that the holidays caused the drop of bitcoin value and that is because of the numerous people that cashed out. though there are so many factors that may have affected the value of bigcoin, but i guess the main cause would be the huge amount of cash outs. There was also some speculation that a investor withdrawn all of his or her bitcoin which could be a possible reason for bitcoins dip.
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Nana_Marini
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December 28, 2017, 01:40:30 AM |
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I'm very glad for this nice holiday because the price for bitcoin is too high and I use the profit for my family to journey in some beautiful places. This is very nice experience for me and I can't to forget it  |
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lienfaye
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December 28, 2017, 02:23:08 AM |
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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?
Yes i think holiday season is among the reasons why the value decreased recently, im also guilty in this issue. I cashout some of my coins to treat my family with a nice meal and bought gifts for the kids. |
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Anco_Marzio
Member
Offline
Activity: 186
Merit: 10
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December 28, 2017, 02:32:38 AM |
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Anything can affect - or not - bitcoin; I think that the main problem in this moment is the network overcharged.
Transactions are too expensive and almost impossible to do in a reasonable time.
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Khristian
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December 28, 2017, 02:39:10 AM |
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in my oppinion for me even when the xmas and holiday season came can not effect bitcoin price because at that time many people have bonuses that they get on his work like that so maybe they'll keep it their bitcoin for the coming 2018 because the price of each bitcoin will be increase again..like me i wait it i keep it in my wallet i have lot of money that special day like xmas and holiday season
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gredisgold88
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December 28, 2017, 02:56:32 AM |
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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?
yes, I am very wasteful use bitcoin, because so easy of getting profit in bitcoin. there is nothing wrong with finding profit in bitcoin and using bitcoin, it's the right to use bitcoin. |
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xPPx
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December 28, 2017, 03:03:58 AM |
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Yep. Just like Veterans Day/Thanksgiving...
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Kakmakr (OP)
Legendary
Offline
Activity: 3430
Merit: 1957
Leading Crypto Sports Betting & Casino Platform
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December 28, 2017, 05:37:24 AM |
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That is quite reasonable I guess. I am assuming that users waited for bitcoin to reach the highest price before Christmas then started to withdraw for the holidays. Seems that they have enjoyed the free coins for Christmas.
Also, I am thinking that bitcoin started to decrease because some thought that bitcoin will be dead soon so others panic and sold their coins too. That caused prices go down drastically.
I disagree with your statement and a lot of people here who thinks that the drop was caused because people withdrew to spend it for the holidays. This is not something that would have brought the price down as that is worth hundreds of millions of dollars in terms of the market cap of bitcoins. The reason is plain and simple, the prices went down due to the correction of the price. Bitcoins rose up quite fast and as a result it could not have supported itself up there when people started selling their bitcoins. There were not enough buyers to sustain the price when there were so much people that were already selling. The holidays probably affected because a lot of people were not trading and hence there were less buyers at the time. Remember I said it was the catalyst for the downward spiral in the price. We had no mayor bad news or bad publicity that triggered this mini-dump, so it had to be something else. You mentioned something I did not think of though, which is the fact that a lot of people went on holiday and they were not focussed on trading Crypto currencies during this time. As people return from holidays, the trade volume will pick up and things will go back to normal. |
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maianh09
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December 28, 2017, 06:04:18 AM |
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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 think this has really affected the downside of bitcoins in the past few days. There are many people selling their bitcoin to pay for their gifts for their loved ones this Christmas. |
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imdabest239
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December 28, 2017, 06:11:18 AM |
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The holiday season is really costing us a lot of money since the price has been going down for a while, anyway, it will recover but we all know that it will take some time, but it always happens, it is just matter of time and have some patience.
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lightcraftone
Member
Offline
Activity: 93
Merit: 14
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December 28, 2017, 06:13:51 AM |
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Yes maybe. Because lots of people needs money for Christmas but no one still control how bitcoin pump and dump.
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muhsyakir
Member
Offline
Activity: 120
Merit: 10
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December 28, 2017, 06:22:51 AM |
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I think this holiday season is causing the decline in bitcoin prices, because during the holiday season many people sell bitcoin ..
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thetractor666
Jr. Member
Offline
Activity: 59
Merit: 10
ExtraCredit ICO 20% Presale Bonus! extracredit.io
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December 28, 2017, 06:23:47 AM |
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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 think so, many people saw the door to cash in their profits form trading before holidays, and that's what happen to the price, it crushed so much I wouldnt recommend to invest in bitcoin til the price is more stablished again. |
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TaKlarPH
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December 28, 2017, 06:25:32 AM
Last edit: December 28, 2017, 01:55:46 PM by TaKlarPH |
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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?
Yes yes got to use bitcoin for buying gifts this past weeks, but sad for today because bitcoin price/value decreased. When this bitcoin increased happend. I tought bitcoin increased because its a gift for other bitcoin users so for that I think not just me, but others as well bought bitcoin when bitcoin price increased evryone bought for there gifts and save bitcoin for the value |
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Harlot
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December 28, 2017, 06:49:23 AM |
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The holiday season really had an effect to Bitcoin's price as many people have cashed out and sold off there Bitcoin for them to profit. This season made them profit because its simply the holiday season were people are known to spend more because they are having fun and giving gifts. Not only in Bitcoin as also the stock market is affected my stock portfolio today experienced a pretty significant dip in price because of the holiday season as well.
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goaldigger
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December 28, 2017, 08:21:28 AM |
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I think so , its the season of expenses so maybe they use and withdraw their bitcoin investment for food, gifts and events expenses. Less invested coin on bitcoin world, less value it has created. I hope it will regain again this january 2018
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Coinsher
Member
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Activity: 224
Merit: 10
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December 28, 2017, 09:35:18 AM |
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Yes,it is a big factor why the price goes down.Christmas and Holiday season is the time of vacation and all catholic people celebrates this together with their families and relatives.And in order to have good celebration,they need money.So that's why some people on this forum sell their bitcoins to have enough money to spend during this season.Either giving Christmas gifts or going abroad to celebrate Christmas.
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