This is why we do love Bitcoin. There's a huge dump within a few hours and then it recovers so fast. Thanks to the many institutional buyers that have been quick in buying those sold Bitcoins by the panic sellers.
Yes, that's right, that's why we love and trust Bitcoin. As we are experiencing right now. Just yesterday Bitcoin reached $ 31.5k and finally dropped back to $ 30k. And now it's still around that price. We are very aware that the price of Bitcoin will always be like this, being volatile with ups and downs which sometimes are still quite under control (if there is no FUD that is so bad it attacks suddenly). this is what makes Bitcoin always trusted both for trading and long term investing. Because, Bitcoin will always have an increase someday and it is very worthy even if we hold it for some time. All that remains is how patient and we don't panic about everything that happens in the market.
with its fluctuating nature it becomes an advantage to get bigger profits, so that things like this are preferred by speculators, I don't think there is a definite reason for this incident, considering that we are used to the characteristics of bitcoin which has high movements. but for beginners this is what makes them scared and panicked, so they make the wrong decisions, and in the end they are confused about what to do, for example because they are afraid they will let go, but after that the market actually increases according to the first analysis