I think it can happen if bitcoin holders don't want to sell their bitcoins and hold them long term.
if the market runs out of bitcoin then buyers and sellers will turn to altcoins to trade, this will make bitcoin meaningless because investors have held bitcoin for a very long time so traders and buyers hate bitcoin.

DeFi is just a smartcontract that will execute some operations. There are people trying to do so in Bitcoin for some time, like RSK.

Bitcoin is more flexible than it looks like at first. For example, USDT was formerly a Bitcoin Token until a few months ago, when they move basically all stash to ethereum/tron network (you can still some usdt transactions in BTC chain here)

DeFi has some interesting implementations like Uniswap, a decentralized exchange. I would love to see some innovations similar to that in bitcoin network, although I don't know if that is possible. Maybe in a few years, with the lightning network.

I think that it was "man made". I'd say that it has happened before too when - for certain events - peoples' expectations got fast too big.
This El Salvador story together with the great rise for the last 7-8 days have created a perfect storm we were too enthusiastic to see.

The result was:
* some actors dumping to move the price down
* possibly some actors cashing in their gains for the week to avoid risks
* many traders' stop orders kicking in and moving price even (much) lower

As you see, the bad actors have only started the avalanche, they didn't do all the job. Margin trading and stop orders not under continuous supervision have most probably doing the rest.


However, all this is only a theory. But it's not the first time I see this kind of development.

i havent hodl bitcoin for 10 years yet. i believe if you hold 10 years in btc you will become very rich anyways. I believe it is good to hold some alt coins.. even if bitcoin or ethereum is rising. just stay true to the alt coin and you will be rewarded. one time i had bittorrent since the air drop. only 10$ at the time and now its worth 180$. I didnt even care about it. now thats some money right there. so I think if you hold some alt coins you will be lucky but hide the asset so you dont see the bear market n decide to sell.
During the 10 years learning to trade alt coins is really exciting and fun. and selling can be nerve racking. The entire space is growing in different spaces. I felt that i like ethereum more so i have a big bag. and i am waiting for a pay out..

Well that's a huge lose for employee's imagine they will shoulder the high transaction fees if this really meant to happen. Instead of they can use the amount to buy goods but they used it for fees for this incident for sure many employees would not like to receive bitcoin that's why this things need to consider first that's why I can say that this bitcoin plan payment is kinda not happening for now as there are many flaws regarding to this plans.