There are two things that have contributed to this price drop. One is that periodically bitcoin has pretty big corrections, usually 30-50% before bouncing back up and a new bull season emerges. This time is no different. But that's not the only reason, it is also because of new laws.

Recently, Indonesia has basically said that it does not support bitcoin, and China has increasingly shown hostility towards bitcoin users, especially miners. These have all influenced the price movements a lot, meaning that people are dumping the coin like crazy right now.

But the good news is, the floor is $10k and it's rock solid. We've tested it 3 times already, and every time it reached $10k it has bounced back up.