I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.
I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons
The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price
I think if panic seling the case then I think it would make to lower prices, but today you can see that the price rise is very fast, and of course it's because of panic buying occurred. I do not know the reason why panic buying this happened but the important thing is panic buying will always give a nice effect for the price of bitcoin
panic selling would not help, some of bitcoin users was selling their satoshi in low price while they can en cash it on the right price. Do you think China taking over the Bitcoin market is a good thing?Bitcoin was designed to be a part of the future of money. And now China is definitely a part of Bitcoins future. Only time will tell if it is for better or worse.
Not for all of us maybe, if someone is doing panic selling then obviously it would not help him at all and those whales are just gonna buy cheap bitcoins.It's actually normal in the crypto world that panic selling and buying will happen as we are news driven, and any bad news will negatively affect the price.