> I wonder how the press is so sure that "fears of regulatory crackdown" are the reason for the drop They don't. I imagine it's mostly 'bitter coiners' who di

> I wonder how the press is so sure that "fears of regulatory crackdown" are the reason for the drop They don't. I imagine it's mostly 'bitter coiners' who didn't buy in when the price was low and who are happy to see any drop because it lessens the amount they feel they lost out by (and I say this as a bitter coiner myself who could have mined bitcoin back when it was possible on a typical desktop but decided it wasn't worth the hassle). I imagine this drop is caused by people who bought in early last year, saw the price drop from $19,000 to $15,000 and then think "I'm happy to lock in 1,500% gains" and sold, causing others to think "hmmm, the price is dropping, I'm happy to lock in 1,400% gains" and selling, and so on all the way down to the current $10,000, and it will likely keep dropping until you run out of people looking to lock in at least some of the gains from last year. That's when you'll get a whole bunch of people thinking "wow the price of bitcoin is low right now, time to buy, buy, buy".