I wanna know the reason of dumping bitcoin price. I am new so i wanna know a lot about it.
The reason is relatively simple, the price went too high and there was not enough demand to sustain that price, then when it began to go down people panicked and this created a chain reaction and the price went down even faster creating an important correction, there is some debate about what caused the spark with some arguing it was Elon, but regardless of what was the spark sooner or later the price would have gone down anyway as it was impossible at least for the time being for the price to remain that high.
