While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again.
Good news can't stop bear markets. Bad news can't stop bull markets either. So don't worry about the news. It won't change the direction of the market. All we can really do is wait until sellers are exhausted. It might take lower prices to do that but eventually this weekly downtrend will run its course and the ball will be back in the bulls' court.
In fact, last night's double bottom off $7,700 looks like the start of at least a relief rally.