Maybe some whales cause this fall. What you think guys? We will see a new drop under 5000$ this month?
People love to complain and to blame the whales about everything that happens in the market but do you think that they like the idea of bitcoin crashing so hard? They are the ones that are losing the most money with this, the average person in this forum is not holding even one bitcoin so they are not losing much, the whales in the other hand are losing millions of dollars with what's happening.
It may also looks a bit different: Someone wants to make panic on market and manipulate people psychologically just to push them to sell their coins cheap. Whale accepts that he will lose part of the investment at the beginning, but he is buying a lot more coins at a much lower price in a moment.
If whales were not smart they will not be whales, they understand very well that in order to make money you need to be willing to lose money, but as I said that doesn't mean that they are not affected by what is happening in the situation we are seeing, if someone is affected by what's happening in the market right now those are the whales because they are the ones that have the most money invested in the market.
In past few days we have seen some huge bitcoin transactions, the most interesting transaction is the one from inactive address, more than 60k bitcoins were sent, worth over 250 million dollars. Now people are thinking what will happen, if this bitcoins are sent to exchange that can cause bitcoin price to drop more. Who ever is doing this is creating a panic, but sellers will always try to take maximum, so selling all amount sounds unlikely to me.
I see many threads about bitcoin going to zero, and similar titles, but that's nothing new, before couple years there were even more similar things, just hold, buy more and relax.