It's this time of the year again...
Crypto Markets have seen a MAJOR decline over the past 24h, in fact the entire Top 10 on CoinMarketCap is bloody red:
So is this just another pullback we don't have to worry about or could this be the bubble pop the media is talking about?
We will see.
But what's really interesting, historically, the Year-Low of the last 3 years, has always been around this time of the year. In fact, lets take a look at the Bitcoin lows from 2015 to 2017:
2015 Bitcoin Low: Jan 14 2015 $173.76
2016 Bitcoin Low: Jan 16 2016 $354.91
2017 Bitcoin Low: Jan 12 2017 $760.86
One possible explanation for this could be the Lunar New Year (Chinese New Year), which always takes place in the end of January/start of February (16th Feb this year). At the same time, the Crypto market is still somewhat dominated by money from Asia. In most Asian countries Lunar New Year is by far the biggest celebration of the year, and people need money for presents, flights and festivities! So especially Chinese and Koreans cash out parts of their Crypto investments to celebrate. This seems to affect the entire market and could be the reason for this dip.
So stay strong and HODL or even rebuy during this great Crypto sale, as this downward movement might only be temporary.
