It's the China news again, government closing some bitcoin mining farms, cutting their electricity just to be sure. And probably if we see and hear another Elon's troll the price might go down again. So we can't do anything about it, unless whales are going to pump the price. But we don't want it that way, I mean no artificial pump because it will be followed by an obvious dump. So we might as well wait a bit, when everything settles down, in the next couple of weeks, maybe we might see $40k'ish or something.
China is a origin of FUD and people have to familiarize themselves with FUD from China. Many long orders were liquidated and soon you will see Short killing. News to kill short will mostly come from China, not Elon.
There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.
Only time can help us to verify those news but it is too late, when verification has enough time to finish, FUD goes away, and price already dumped to the helll or already recovery too much.
It's not going to last that long, their banks don't reach the whole world, buy now and see for yourself that the prices are going to go up again. China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.
China is a big nation and is a biggest manufacturers of ASIC and many biggest bitcoin mining farms are in China. People are fearful of FUD from China because they think if China cracks down mining there, it would be the end of Bitcoin network, that is not certainly.