If the price today for bitcoin is around 9.3k then that can't mean everybody's Bitcoins is worth that amount because where would the money come from to pay everybody if they all wanted to sell. This is why I am losing faith in the whole thing. And I was reading about wash trading which is people buying and selling their own Bitcoins at the same time and that is what is keeping the price up for the time being.
You might as well lose faith in humanity because that is with everything. Stocks, food, weapons, etc.
If you have a billion apples, and your neighbor also has a billion apples, lets say both of you want to sell all of them before they go bad, but the "market" only wants 1 billion apples. Too much supply and not enough demand.
You're obviously going to lower your price so that you can sell all of your apples.
This is how it would go with a bitcoin crash aswell ( although bitcoin wouldn't go bad
),
https://www.investopedia.com/university/economics/economics3.aspI guess you could also say that everything is a bubble then.. The marketcap of bitcoin might be $159,091,689,014, but that's not actually how much money has gone into BTC.
A JP Morgan analyst who specializes in capital flows estimated that around $6 billion of net inflow resulted in about $300 billion in market cap. The market cap has gone up since then, so the number is probably somewhere around $8 or $10 billion.