Bitcoin, Bitcoin Gold, Ethereum, Zcash and practically all the cryptocurrencies of the market are in red and registered falls of an average of 20%, which is common in the Christmas period.
We have woken up with a strong adjustment of the cryptocurrency market or, perhaps it is not an adjustment? Bitcoin has gone from $20,000 to about $14,000 at the moment; Bitcoin Cash goes from $4,000 to $2,500; Ethereum from more than $800 to just over $670; Dash goes from $1,500 to just over $1,150; Zcash from $750 to just over $500; Bitcoin Gold from the more than $450 to just over $260; and the list goes on, because all but Ripple are down, among the important ones. IOTA, Cardano and Monero are all also down by 20%.
This situation is not anomalous and those of us who know the cryptocurrency market have been waiting for it for some weeks. Far from being a puncture of the bubble, it is a normal process of users and investors who withdraw part of the profits to pay for Christmas dinners, gifts to friends and family and various trips, typical of these dates, so, no surprise and everything falls within the normal parameters of this time. It is also a resistance test of the value of the different cryptocurrencies, which Ripple skips, for the time being, due to the strong rise yesterday.
Logically, this strong adjustment, which we already saw this summer, between August and September, attracts hyenas, who stand as ‘experts’ in this matter, who come to kill the cryptocurrencies, ensuring that the bubble has been punctured and when will go back up, say that there is another bubble and the wheel of the hamster will spin again without stopping. Do not panic at this time. Those who have coins, who do not touch them, will upload the thing again in a matter of days or weeks, without a doubt. Those looking for a good time to invest, this is one of the best times.