I know almost all veteran members understand what's happening in the market. But, newbies like me still trying to figure out what's happening and the possible reason why it's happening. Now, People sharing their thought as if BTC is the only currency that is going down now. Every currency going down right except stable coins (We don't see the stable coins going down like Terra UST).
The key point Reason for the Market Crash is Fear and Inflation.
I agree with you, right now the market is guided by fear. This week we saw a lot of panic selling happening. Why are so many people running for the door now? All the risky assets dropped a lot this week, but selling bitcoins now at 20,000 USD or even below seems like a very bad choice to me. We should be buying low and selling high, not the other way round. What I don't understand is why high inflation is pushing down on the bitcoin price so much. Shouldn't it be that inflation is bring down the value of fiat money and increases the value of crypto coins? The best thing we can do is HODL and not give into the selling pressure. Stable coin might be one solution to store value, but the more people sell at the moment also means the price will drop even further down. We can all stop the panic by not selling our coins.