The decline in the Bitcoin value could be attributed to so many factors ranging from FUD, government ban, government regulation policy, panic selling, whales activities and many others that you can think about.
Partly. The main point of importance is that the short term demand has decreased, and that for a good reason. Last year we had so many bullish developments driving up the price, where the mainstream media went absolutely nuts (in a positive way) on Bitcoin and crypto in general. The level of hype was insane at that point, and impossible to replicate right now. People no longer wanted to sell their coins, but just hoard more, and that is gone now -- the coins people were holding already, and hoarded afterwards, are now being liquidated in a market offering almost zero resistance on the buy support side. Let the market just calm down and people as well, because it was one heck of a ride....
