I think that the price is OK for the meantime and in my opinion in the coming impending holidays the price will surely change and decrease a bit it is my opinion regarding that time of the year were everyone is busy decorating and preparing for the feast.
I don't see much importance in holidays. I'm more curious about how tax sales are going to affect the market in January, especially with how we deal with more legal entities being active in this space than ever before.
It definitely won't be as bad as it was last year with how the price tanked in January and February, but there might be another test of the $5800 level in the worst case. Volatility will definitely boost in that scenario.
The easiest way to get people back to the market is to have the price dip under $6000 again, because that's what many believe to be the ultimate bottom. We'll see where it goes, but I'm open to anything and well prepared with a bunch of fiat to spend.
In December we'll have Bakkt, I believe we'll have a push around January which could level out potential sales to cover tax obligations.
Bakkt has got me excited since I learned that the contracts must be backed out by underlying asset (basically in this case it means there must always be bitcoin being bought and held ready, not just some empty promise). Assuming the platform starts getting volume quickly, I don't see how the price shouldn't start going up short after.
