Basically FUD and negative news started to take a strong factors that made this current situation really hard to overcome. Every individuals had doubts that price will survive and recover successfully, but for my personal point of views I wanted to remain strong despite of those hearsays. Hopefully, it's not that worst in the next few days and we will see bitcoin soars higher all over again.
The thing I always seem to hear from people is "Look at the past, Bitcoin has always crashed hard but it always came back stronger than ever."
This ignores the fact that in 2009-2017 there was no futures market. Post 2017, there was a futures market. And as at 2021, it is now 10x as big as spot (for every $1 traded on spot exchanges, $10 is traded in futures) and the trend sends to be increasing. We are seeing a bigger and bigger paper market. And this makes price suppression a real threat. We know the banks don't like bitcoin. All the bitcoin maxis are like "there's nothing the banks can do to stop bitcoin". I reckon they can. They can use the futures market.