I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?
If there is no valid evidence then that is not true news. Everyone can make a lot of news about bitcoin. But make sure the news has valid proof like proof of transfer, etc. There are many speculation about why bitcoin falls. Right now it seems like investors are really panicking so they sell their bitcoin and cause prices to fall. But soon Bitcoin will definitely rise again.