That's another thing for sure, the expenditures that we're having every season is also affecting the market. Like the new years, holidays and other sort of seasons for which people are spending a lot.
If bitcoin goes stable to $50k for a week or two, then this would be turning again another speculation if it will go another low.
We've been through this before, though. Every year someone talks about Chinese New Year or Christmas.
Don't forget, this current bull run started last year around the same time, so if everyone was spending for Thanksgiving and Christmas in 2020, why on earth did Bitcoin go on and rise up so much, right? This time, it's clearly all the bad news from traditional stock markets.
It could also be that the new variant of covid-19 made the market plunge.
But the thing from last year is totally different, we still don't know what's next that shall come to the market.