Well there are few reasons which needs to be analysed 1 Holiday season - As discussed earlier people have taken out their profits and in most part of the world trading volume is low on account of holiday season. 2 US Taxation There is a v high likelihood that some new taxation laws/structure will be implemented on gains made from bitcoin and other crypto assets.This can also set precedence for other countries and some is being closely watched by big institutional investors.
3 Fear factor/Fud New money generally wait on the sidelines till there is a confirmed trend and most of the time this is the one which supports constant bullish growth. Since their are lot many rumors surrounding BTC and there has been a good correction in last few days these people will only buy their first Bitcoin when the train have already left the station (read 16500/17400$) 4 Your greed needs a break- Common what do you expect ? Bitcoin have seen a tremendous growth in last one year. You might have been late to the party but initial breed of early investors were waiting to take out some money to buy the lambo they always talked!
Bitcoin has been a big blessing to many but this time around we have to hold on and wait for some weeks before we start planning to buy that 'lambo' from the reputable car dealer. Anyway, it is always mesmerizing how much of our human nature is always displayed with Bitcoin. Things like hope, wait, patience, sharing as well as greed, selfishness, 'war' and yes even deception -- all of these and more are in play in the Bitcoin and cryptocurrency market. At last, what those traditional traders in the forex and stocks have been into are now being experienced by many ordinary guys like you and me thanks to Satoshi Nakamoto and his gift to humanity and of course the infrastructure provided by the internet.
This time around, there is a need for Bitcoin to take some rest after weeks of a raging bull run. Everybody gets tired and Bitcoin is no exemption. It is right now gathering the needed energy for some big and exciting climbs this coming 2018. We are then hoping that scalability concerns which translated into unbelievable transaction cost will be resolved in our favor.
Long live the King!