Crypto market manipulation - Bitcoin price crash - A calm approach

During the past week we have all witnessed crypto market and Bitcoin price at free fall. From almost $59600 at 10.05.2021, Bitcoin's price reached below $30000 at 19.05.2021. All other alt coins followed as consequence with losses 20-30% or even in some cases 50% of their prices.

Several articles, tweets and rumors about China banning Bitcoin (once again...), China FUD, crypto market manipulation, cryptocurrency governments' new tax regulations and restrictions, Tesla stopping accepting Bitcoin as payment due to environmental concerns, lead to a massive dump for all prices. On the other hand, during the last months financial institutions, funds, banks, and other organizations have officially announced that they are interested in Bitcoin and the crypto technology.

These contradictory facts, makes you wonder. Is the cryptocurrency market a healthy financial market? What games are being played behind our backs? Whales are manipulated the market in their favor?
The answer is very simple: YES and NO.

Cryptocurrency universe has many projects. Of course the king is Bitcoin, but we should not forget that Bitcoin is around only 12 years (since 2009). Then again, there are many projects related to alt coins which their implementations depict real life applications mostly in data and information processing. For example, BAT - Basic Attention Token refers to a web browser (the Brave browser). Fully functional like any other web browser. ADA - Cardano recently announced a collaboration with the Ethiopian government for its eduational system.
So, why the prices of these projects and coins are so closely related to Bitcoin price? Why every time Bitcoin price drops, all alt coins drop 2-3 times more? It makes you wonder (again...).

Either we like it or not, in order to purchase crypto you will need to use real life money - fiat money. Deposit via credit or debit card, bank wire transfers, electronic wallets (eWallets), at some point a ''bank'' or a ''banking institution'' is involved in the crypto process. It is impossible to ''close'' all banks or abolish the ''traditional'' banking institution system.

Cryptocurrencies and Bitcoin were here long before Tesla, mr. E.Musk, etc, so it's not fair to accuse him that he is the one mastermind organising the whole Bitcoin crash. If tomorrow, mr. E.Musk tweets that Starlink will accept Bitcoin as payment method for internet access, will we glorify him? Will he then support crypto? If China bans Bitcoin for good, yes this will be a severe hit for the crypto world, but cryptos will not extinct over a night.
News and events all over the world will affect the crypto space one way or another. It's inevitable.

The main idea of crypto and the projects behind it, is to evolve both internet and banking systems. To evolve and to make them better, more efficient, more practical and accessible to anyone. This would be the real win for all crypto space and fans. Cryptocurrencies and alt coins and all related projects aiming long term. They have a vision to change the world and a vision is a long term process.

Support cryptos for the ''vision'', and not for the amount of money you will get in your pockets nor your orange purple Lambo.