Don't panic: Bitcoin's usual pre-end-of-year dip is here.

2018-11-23 00:29  btceoy       [permalink]

Don't worry. The price is going down a bit, yes. But I think there's no reason for massive public panic and the cyber-world's equivalent of a run on the bank. The holiday season is here. Black Friday. We need presents for the family, and that costs money. We may have chosen to put the value of our earnings into this new thing designed especially for that, and now need to convert some back to good old local currency, so it probably pushes the exchange rate a bit down. It may even be a good sign of institutionalisation that automated agents kick in and join in on the selling, pushing rates even further down, dramatically so. But it's best for all of us if that's only a marginal effect. If I were speculating, I would guess it would start to look like a buying opportunity, if I could statistically detect when the bottom would come into view, but I am not. Actually I don't care. But since we're guessing, I guess things will bounce back in January. It did last January. Perhaps it won't get to the same levels as we had up till before this dip, but that's OK. If it's all rather stable for a few months, that would be good, but if it follows real events in the real world, that's also good. It's just normal. I'm not worrying. Perhaps next year we'll be paying Christmas gifts in bitcoin. (Though I wouldn't put money on that...)

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