Even a lot of these true crypto believers are trying to spread mass panic. They are doing this to obtain more bitcoin or to make profit on short contracts. They know the true future potential of crypto so its likely they are just stockpiling for the next bullrun which should be starting pretty soon.
if these true crypto followers are really trying to spread a massall panic that aims to get more bitcoin from a cheap price I think this is a very high risk idea. try you think, bitcoin price that was once IDR 297 million to date down until it touches the value of IDR 86 million. is not this a remarkable price reduction?
I think people who just know the world of crypto would be surprised to see the price movement so fast and very deep.
but the old crypto player traders will not be surprised to see the current market conditions.