Simply because the lack of Chinese bag holders to buy and hold our bags.
every day 2k of bitcoin created, who is going to buy them?
huge amount of bitcoins gonna be sold by Chinese, no one can buy them and hold the price above $2k, in fact, not even $1k.
this is a widespread issue in here dont think it will go down to $1K, do not be affected china issue is impossible , the news spread rapidly as though air your assumption will drop to $1K is impossible .