This is common investor behavior, it happens in every asset class. The Dow went down yesterday as well for the same reason. There are good tax reasons to sell some profits in 2017 and pay the estimated tax early – to avoid penalties. Especially with Bitcoin Cash and the uncertainty of how that will be taxed. There are also a lot of investors who are going to report and pay taxes on everything they bought and sold in the crypto world.
This isn't a "Crash" – this is normal investor behavior.
This is also just my opinion, but I have been investing in many things over the past 2 decades.
Happy New Year!
Bitcoin has extended its recovery in holiday-thinned trading, rising 10 percent to be up more than a third from last week's lows of below $ 12,000. Bitcoin, the world's largest, best-known cryptocurrency, fell nearly 30 percent at one stage on Friday to $ 11,159.93 and, despite a late recovery, had its worst …
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