I don't think this was the reason... at least not the only reason. The amount he sold is far from typical daily volume traded, so I don't believe this alone could crash the Bitcoin price. But it's possible that it triggered more sell offs which then crashed the price. Big correction was already highly expected, so it might have triggered it, but the amount was not big enough to crash the market.
There are a lot of reasons that could lead to a decrease in Bitcoin prices right now, but I still believe in Bitcoin because I think this is a perfectly normal correction. The decline is also not so extraordinary and market conditions can still be said to be fine, there has not been a condition of extraordinary panic. Yes for me Bitcoin still interesting to be an investment and I think that Bitcoin has a chance to have a chance to experience a price increase again. This is not a hoax, many analysts say that Altcoin and Bitcoin will have a good momentum this year. market share also increased by more than 20% and this is a remarkable thing one of today's economic strength can achieve.