During holiday seasons, particularly throughout Christmas and New Year, the market estimation of cryptocurrencies has been increasing. Predictors explained why cryptocurrencies like Bitcoin rise during holidays. They stated that the introduction of new family members and friends to the cryptocurrency market plays a role.
Whereas Bitcoin and Altcoins become widespread, more individual and occasional investors participate in Bitcoin and other cryptocurrencies trading.
Bitcoin price corrections
A major correction caused the price decrease of each particular cryptocurrency in the market. On December 23, the cryptocurrency market recovered from it. Bitcoin dropped by approximately 25 %, while others dropped by about 50 %.
Most analysts and experts did not expect a new correction that took place on December 24. Mike Novogratz and other high-ranking and esteemed investors expressed their opinions. They stated that with the recent recovery, the price of Bitcoin would likely increase in a short while. Nevertheless, the cryptocurrency market recorded another significant correction before Christmas.
The latest cryptocurrency correction can be especially useful for crypto new investors. They will have an excellent opportunity to understand the nature of the cryptocurrency market and probable risks. Even some of the most optimistic, enthusiastic, and long-time entrepreneurs, analysts, and investors were shocked. They did not expect that the cryptocurrency market would exceed their expectations this year.
However, price corrections are useful. They ward short-term bubbles off. The price trend of Bitcoin and other cryptocurrencies in the market is optimistic. Electronic cash always recovers from significant corrections because investors` demands rise.