Declining from a high of nearly $180 billion to under $160 billion today cryptocurrency is seeing a large sell off.
But it may not be a bad thing, but rather another great buying opportunity.
The price drop can in part be attributed to large traders who want to build up even bigger positions in cryptocurrency. They sell lets say 15,000 bitcoin in the idea that other larger traders are also selling off near $5,000 to take profits. This large sell of drops the price and then they plan to buy back in double what they sold in this case 30,000 bitcoin for the lower price.
Bitcoin was trading at $1,800 less than six weeks ago and it's at around $4,400 now, meaning the price has risen over 140% in the last month and a half. With this in mind it is smart to anticipate a slight correction in the near future.
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