If you look at the Bitcoin richlist you will see that none of the top 20 adresses have moved/sold any btc last month! In fact most of them have bought/accumulated even more BTC this week. Most of the top 500 adresses also didnt moved/sold any btc and only bought. Take a look youself:
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
The bitcoin rich seem to only accumulate more of that sweet magic internet money.
My guess i that this dip is just a normal market correction leveraged by by FUD. Don't panic people, the tech is still the same and Bitcoin is working fine as always :)
It sounds like the same thing happened this time last year as well. Chinese Lunar New Year, people selling off to have fiat to buy gifts...
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It does! Many repetitive movements in the market. This time there is just more money involved and the media reports about it.
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I think and hope that you are right and this is just a symptom of regular people attempting to take some profits to pay off their holiday expenses. We can only hope at this point. I was looking to buy more crypto this week but I am holding off now hoping that I can get some bargains as the market declines further.
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Hope is all we got indeed. But atleast we are in a safer place to grow now. I (and i think more people with me) felt uncomfortable at crypto price so high, without a big correction. Atleast we got that correction now :')
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