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RE: What caused the drop in Bitcoin? Hint: It might not be what you think...

in #bitcoin7 years ago

This is very clear that whales are playing with the market,, but I believe BTC will not be less than $10k.
If ever it touches $10k It will rise more and touch at least $25k at the beginning of the year,,
some Christmas magic will be there besides the new year will bring something new for sure

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What I really expect it's a rise of steem price.

I agree with you..but i won't call it xmas magic.....although apart from the manipulation u would expect a massive withdrawal this xmass plus a massive reinvestment in the new year period...maybe not massive per say...

Thinking there is considerable incentive for earlier investors to wait until after 12/31/17 to take profits due to the new tax laws. Maybe another dip coming in early 2018?

Correct, they are manipulating the markit, once they have enough BTC they will be playing the same game as they do with fiat markets. So everyone hold on tight to your BTC. If you don't have one then try to get to atleast one BTC. There is a chance now with these dips to get cheap BTC. But you need liquidity up your sleeve because they will be playing with whole crypto market and will make it very hard for your fiat currency to get to exchange during that window. Happy festive season.