I decided to open this thread to point the real reasons why btc is dropping.
Idiots who believe this is because of fb ads - chinese new year - wallstreet - manipulation, this is just stupid, and if you really belive in those, then u're an idiot.
"crypto is prohibited on fb ads" - yeah, same as penises. Did the penises dropped? I strongly doubt.
"chinese new year - ppl withdraw for holidays" - sure! those millionaires who are all-in into btc just withdrew a few miliions of $$ to celebrate the new year, but they will invest back. sounds resonable.
Real reasons for btc drop:
Korea spreading FUD, India/China banned crypto
As you can guess, only China matters from here. They were the biggest traders and boom, the market just got a huge hit.After BTC raised over $12k, BTC got a large attention from televisions and a lot of noobs came here hoping they will get rich quick, of course at the first drop they sold to cut their losses and now it have a domino effect.
Some gurus will try to convince you that their graph/chart is good: BULLSHIT.
Everyone you see is doing TA on bitcoin - trust me - is a scam.
Everything that it happens on BTC is just because of the news, laws, govs. Nothing to do with TA (tactical analysis).
Will BTC recover?
Yes, I'm pretty sure. Invest responsible. It might get to $100k by the end of year.
Oh, I almost forgot: "price manipulation - they manipulate the price down to can buy more btc" - I dont even want to argue with this, if you are stupid enough to believe this.