Probably most of you already know this or believe it's nonsense, but as I stated in the title it's just a reminder to make sure no one wakes up in a bad mood tomorrow :)
Designed by Freepik from www.flaticon.com
I believe there is a logical eplanation almost for everything.
Talking about cryptos this reason never seems to be an easy one, but always many, so-complicated-to-give-you-an-headache ones, involving charts and a lot of math. Like a matrioska or a movie about butterfly effect.
But among the many, difficoult explanations of this january's (and of many january's before, as I can remember) bloodbath there is the end of the tax year. Because of so many people needing fiat money there was a massive withdrawal from exchanges that triggered the panic selling which led the market to collapse. I've seen this happen in the last years and I belive this time it was so catastrophic because of the amount of new users. I even read of people trading with borrowed money and of course you panic when you see the graphs fall down like a broken rollercoaster, but let's not do it all over again.
Chinese lunar new year, also known as spring festival, will start on the 16th. New year's celebrations require money and China owns a good share of the market, so this may again affect the prices. I think my nerves couldn't efford another breakdown so, unless something else very bad happens tomorrow, or you are very skilled traders who can make money even out of a shabby sock, there is no reason to panick sell.
I'm all but a good trader, so if something happens tomorrow (and it may also not happen. We could as well wake up on the moon :D) I'll hold and take the chance to go out with friends for once, hopefully the weather will be good :D
Wish you happy valentines days.
With love,
The Creepy Turtle
