Why is the price of Bitcoin going downhill? I kept saying for two or three months that the marketplace will be better by this time and the price of bitcoin will move forward. But my idea is wrong. Experienced people will share your opinion on why the price of Bitcoin is in such a state.
Does it matter? What I mean by this is that some people care a lot about why something is happening at the market when the most important thing is what is happening at the market, it may seem a very slight difference but it is not, if the price of bitcoin is going down it is simply because the ones invested in bitcoin have decided as a group that is going to be the case, so what maters is what are you going to do about it and how do you take advantage of the situation.
At times it does matter, maybe not this time but there are periods when it matters. For example when the price hit 64k for the first time in April of 2021, china "banned" crypto again, which they did a million times but they just ban a niche part of it each time, this one was mining I suppose, and Elon said he will not hold bitcoin anymore, or buy, or accept bitcoin payments for tesla something like that right around the same time as well, a few other minor things happened in bear move as well.
So all in all, that mattered because it looked like a coordinated attack. When those type of falls happen, it is dangerous to us all, but these ones we are seeing today? That's nothing, no bad news at all.