Three major reasons for the sharp decline? Should you run? Bitcoin has fallen by over 50% from its all-time high, how do celebrities view it?

The reasons for the sharp decline in Bitcoin are varied, feel free to choose:

Three Major Reasons?

1. Elon Musk initiated the move to stop accepting Bitcoin payments, hinted at possibly selling Bitcoin, but later clarified that he had not sold any.
2. Chinese Internet Finance Association and other institutions have banned financial and payment institutions from handling cryptocurrency businesses.
3. The Development and Reform Commission of Inner Mongolia: will continue to tightly regulate virtual currency mining in the future.

Derivative impacts: affecting the options market, increased demand for loans

Regardless, Bitcoin has dropped by over 50% from its historic high, currently hovering around the 37,000 mark, shaking both seasoned and new investors. We have compiled some reactions from notable figures in the cryptocurrency community on whether to stay or flee. Let's take a look together!

To run or not to run?

Tesla CEO Elon Musk

Let's start with Musk! He said, "Tesla has a diamond hi-five." Speculations online suggest that he is referring to "Diamond Hands": "If you have 'diamond hands,' it means you are ready to hold onto a certain investment position until the ultimate goal is achieved, regardless of any potential risks, headwinds, or losses. If you hold stocks with 'paper hands,' it means you may not be able to endure the agony of worsening market conditions and may sell early." However, although Musk claimed he had not sold any Bitcoin, what exactly is he implying?

And the Master of Coin, guaranteeing that title belongs to Tesla's CFO Zach Kirkhorn, is he once again hinting that they will not sell coins?

MicroStrategy CEO Michael Saylor

MicroStrategy CEO Michael Saylor, who refuses to back down even if the stock price plummets, stated, "I'm not selling!"

He even mentioned that the institutions under his control collectively own 111,000 bitcoins, and he won't even sell a Satoshi, the smallest unit of Bitcoin.

According to statistics, MicroStrategy alone currently holds over 90,000 bitcoins:

Bloomberg Reporter: Ark Invest also isn't backing down

According to Bloomberg, Cathie Wood, founder of Ark Invest, who invests in GBTC, Tesla, and Coinbase, still believes that Bitcoin will reach $500,000.

Bitcoin believer and analyst Plan B

Plan B stated, "On a day like today, I shut off all screens and go for a long run. See you later!"

Ethereum developer and Ethereum bull Sassano

Sassano keeps it simple, stating that Ethereum will reach $10,000, or even higher.

Binance CEO Changpeng Zhao

As usual, he mentioned that this market is shaking people off, but this is not investment advice.

FTX CEO Sam Bankman-Fried

Sam Bankman-Fried explains that some people pay close attention to the gains and losses of many exchanges, but that doesn't necessarily reflect their profits; it just means they choose to execute short or long positions in certain areas.

Compound Founder Leshner

DeFi has seen a drop in total locked assets from over $80 billion to over $60 billion in this wave of declines, but Compound founder Leshner simply expressed his wish for everyone's safety.