#ChristmasMarketAnalysis New Year's Madness 🤪
Good afternoon! The current state of the market is pretty interesting, with things in the red. Many of us, myself included, haven't closed our positions and are now facing losses. I've been buying since late 2021 and am still in the green. Personally, I think this dip could be a result of market manipulation. Here's my take: With the New Year 🎄 approaching, it's logical that people will sell off their crypto to cash out for gifts, celebrations, and other expenses. This creates the perfect opportunity for whales to buy at a discount, and they’re likely behind the current dip.
To prevent too many from relaxing and profiting, the market has been pushed down. Those who bought during the highs with their last bit of savings, or those in a tough financial spot, might be forced to sell to cover their New Year expenses, and I’m sure many are in that situation. This leads to panic selling.
However, once the market recovers and new all-time highs are reached, those who sold will feel the sting of missed gains, sparking a new wave of FOMO and fresh buying.
Just to be clear, this is just my personal opinion. I’m not a professional trader or a millionaire (yet 😁). I’m just an average Binance user and a long-term hodler.
Happy New Year x20 to everyone! 🎄🎊🎅🪅