According to Jonathan Cheesman, a partner at investment firm Distributed Global, Bitcoin has fallen due to five major reasons: macro trend, speculative dominance, regulatory uncertainty, short selling, and scams.
Jackson Palmer, a product developer at Adobe and the creator of Dogecoin, has said that developers in the crypto community will now have to find a way to encourage users of centralized systems to convert to decentralized applications (dApps).
Investor: Bitcoin Fell Due to Regulatory & Sell Pressure, Will Recover Soon