The Germans government sold their Bitcoin at a loss a few months ago, They probably would have made more money if they had not sold at that time, but it is good for The crypto community generally because this means that some of the weak hands that owe a lot of bitcoin are no more. The market reacted to it then but came back stronger. We all know that the US government holds a lot of Bitcoin and there was a rumor a few days ago that they are planning to sell, which caused btc to go down. The downtrend in the market is crazy because it happened so fast and is not only BITCOIN that is suffering, the altcoins also see a massive drop which affects everybody in Crypto.
The crypto market is going down like crazy, but when you look at all major markets like stocks they are also experiencing a massive downtrend. Many people have pinned the downtrend of Crypto on the US government because of their plan to sell their bitcoin but stock and other markets are experiencing the same thing. Nobody knows the main reason why everything is just going down, It is just a bad day for all investors and I think this is happening not because of the rumors, I think it’s because we are in December and people are taking money out just to spend during this festive period which is a good theory.
Festive period fever
We have those few days till Christmas and people are trying to make it a memory for themselves and their families. Most time people tend to spend more during December. I am also in that category, no matter how cautious I am during December about spending I still end up spending a little bit more than usual. I believe this is what is happening to the crypto market people are trying to take out some money from their investments just to fund themselves during this festive period. Sometimes even if I don’t want to spend money when I look at the amount of gift I have received I will be forced to reciprocate which makes me spend more money during this time. I believe this crypto market is the best for everyone to buy more.
We can all agree that it’s impossible to invest in Bitcoin because of the price. Some people believe it has already peeked and to some people, bitcoin will still go up but most people will likely invest in bitcoin at the moment and choose altcoin instead. Right now this is the best time to invest because most altcoins have not moved in price and with massive downtrend again in the market gives another opportunity for people to buy. The market has been dragging for over two years and if you have been buying, you would have a significant improvement on your portfolio because this market allows everybody to buy at a cheap price most times when it comes to market It doesn’t matter how cheap they are people won't just buy and later complain.
The market will always be the Market and people will never change
Whether it is Christmas or the German government selling their bitcoin or even the US government selling their bitcoin one thing we always cause the market to go down and this allows us to buy and position ourselves better for the future. The truth is, when you are not ready to invest in your future, no matter how good the opportunity may sound you will leave it because you’ve not made up your mind. One thing will happen to bring about an opportunity in the market and most times it’s not always good news, but for those who are ready to change their life and position themselves, they will go for it. Remember that Crypto is going away and this is still the best time to buy.
Thank for your time.
