People cashing out during Christmas
For the past few days, I have been noticing a massive fall in the price of Hive and even though I'm not worried too much about this, I'm glad that it is at least giving us enough opportunity to purchase cheap. In the crypto world, something like this is ubiquitous. Mostly during the end of every year, people cash out for multiple reasons and Christmas is one of the biggest reasons. There are also people who buy crypto during their festival season but that crowd is comparatively low.
Today I saw an article saying that there was an unusual crowd of people withdrawing from Binance or from their wallets to cash out their crypto. Good for them because they are cashing out to have a blast during Christmas if I'm not wrong. Some people also do a panic sale thinking that people might cash out and they want to cash out first before the market falls further. I personally think that now is the right price and all the cryptocurrencies have gone down. It is already very low and I don't think anything would take the crypto prices even further down. But anything can happen in the crypto world and we might see BTC going below 10k again.
If something like that happens, I would be the first person to arrange a lot of funds and invest everything in BTC. That would be the right moment to enter into BTC trading or for long-term investment in my opinion. People are predicting how high BTC can go and if it is really going below 10k, I'm sure there will be high resistance and we might as well soon see the bull run again. I personally would try and get at least half a bitcoin or even 1 full bitcoin if it is possible. I would hold it tight until the price goes and hits 100k in the next few years.
Cashing out during Christmas is a very common thing. Not only in the crypto world but people also sell some of their stocks to create some liquidity for them. Some companies do double payments and some companies are really tight on their funds and which also makes it hard for people to have enough liquidity. They cash out their crypto and maybe invest it back when they have good money flow again after the new year is over. It is obvious to predict that the crypto prices would go down during the end of the year because many people sell their crypto to purchase some basic needs in their real life or even buy something good for Christmas. The celebrations are also not cheap so we all need money.
It is all dependent on when they want to get back in. Sometimes people are clever to get back to crypto when the market condition is still the same. There are some poor folks who end up reinvesting when the price has recovered. That will make them sell low and buy high. But if the intentions are towards holding it long term, then it shouldn't be a big deal.
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