People hardly mention Elon Musk these days, so I don’t think it has anything to do with Elon Musk. But there has been news about the Agricultural Bank of China (ABC) ban on Bitcoin. So, I suppose that’s what has led us to this decline so far. The price is at $32,000 right now. Even the price decline we have experienced before now, a lot of people believed that it was also caused by china after a particular province stopped cryptocurrency mining.

A lot of people believed that that was what caused the price to go down. Now this is another story, seems like china is out to ruin the cryptocurrency market for this year lol. Anyways, after a bull run there is always going to be a bear market.