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.
Well currently it is doing the exact opposite - climbing its way slowly up.
It could be a bull trap. Defintiely a possibility there. I feel like this current pump is brought by the reopening of BTC-e in the form of WEX, and people able to access their token balances and actually trade again.
Even if it does crash, it won't go down to sub $1k. I think lowest we gunna go this year is going to be around $2k. If we go any lower then it's going to be a great time to buy.