Nobody knows, but don't trust fake news media, they're just chasing clicks on this dip trying to put the blame of people they want to discredit or unrelated events.
This typically happens because of resistance, a large amount of limit sell orders being placed at a certain level, say $65 000/BTC, then when the BTC price goes up fast, fewer people buy in, hence no underlying support (limit buy orders). Those that exist are not placed at $60 000 but rather lower, like $50 000, which means there's support at $50 000 but no support at $60 000.
So when the price finally hits $65 000, the massive sell order triggers, and the liquidity is low, which causes the price to drop all the way down to nearest support level, which was probably around $50 000.
What happens now is that the resistance is gone, and the price is at support level. It's been two hours since the crash and the price is already way up from bottom support. If you're looking to invest now is a great time, but apply common sense, don't invest more than you can afford to lose and have a stop loss order right below your purchase price, just in case it breaks support level and goes down further.
Crypto can't even be burn and keep you warm, nor can be used to wipe your ass, the people that got paid in bit coin for stealing the election got their money, now the chicom regime (who really controls the bitcoin) are going to destroy the bc value so they can steal money from all the people that keep falling in the crypto scam, if you can buy crypto super cheap an then sell then you can make some bucks but if you enter late then you're just losing your money.
source: https://www.bybt.com/LiquidationData
good question
People owe tendies to GME. They don't want to pay.
Nobody knows, but don't trust fake news media, they're just chasing clicks on this dip trying to put the blame of people they want to discredit or unrelated events.
This typically happens because of resistance, a large amount of limit sell orders being placed at a certain level, say $65 000/BTC, then when the BTC price goes up fast, fewer people buy in, hence no underlying support (limit buy orders). Those that exist are not placed at $60 000 but rather lower, like $50 000, which means there's support at $50 000 but no support at $60 000.
So when the price finally hits $65 000, the massive sell order triggers, and the liquidity is low, which causes the price to drop all the way down to nearest support level, which was probably around $50 000.
What happens now is that the resistance is gone, and the price is at support level. It's been two hours since the crash and the price is already way up from bottom support. If you're looking to invest now is a great time, but apply common sense, don't invest more than you can afford to lose and have a stop loss order right below your purchase price, just in case it breaks support level and goes down further.
Crypto can't even be burn and keep you warm, nor can be used to wipe your ass, the people that got paid in bit coin for stealing the election got their money, now the chicom regime (who really controls the bitcoin) are going to destroy the bc value so they can steal money from all the people that keep falling in the crypto scam, if you can buy crypto super cheap an then sell then you can make some bucks but if you enter late then you're just losing your money.