The absolute values has a huge influence about potential investments (e.g. mining equipment, but also things like storing money in BTC).
EDIT: Uh I got off topic, point is if the absolute value drops blow some vague thresholds it can cause chain reactions. An losing 50% of a small and 50% of a big investment makes a big difference. END EDIT
Plus and most important by now a lot of non-tech enthusiast are in the crypto market.
For example private people tempted by celebrity and YT videos which don't understand the crypto market dynamics.
By now crypto currencies are ironically also somewhat interlinked with stock market due to investors from the stock market speculating on it in various ways.
This has pushed bitcoin so hight, but also this makes the current crash worse then crashes in the early time.
Especially a lot of "innocent bystanders" are affected directly (private person putting savings in BTC) or indirectly (e.g. through fonds).
Furthermore many of them have been bluntly lied to wrt. the risks involved, market dynamics and what technically is provided and isn't.
I.e. besides burning people this crash could also lead to more regulation, potential much more depending on how it plays out.
The absolute values has a huge influence about potential investments (e.g. mining equipment, but also things like storing money in BTC).
EDIT: Uh I got off topic, point is if the absolute value drops blow some vague thresholds it can cause chain reactions. An losing 50% of a small and 50% of a big investment makes a big difference. END EDIT
Plus and most important by now a lot of non-tech enthusiast are in the crypto market.
For example private people tempted by celebrity and YT videos which don't understand the crypto market dynamics.
By now crypto currencies are ironically also somewhat interlinked with stock market due to investors from the stock market speculating on it in various ways.
This has pushed bitcoin so hight, but also this makes the current crash worse then crashes in the early time.
Especially a lot of "innocent bystanders" are affected directly (private person putting savings in BTC) or indirectly (e.g. through fonds).
Furthermore many of them have been bluntly lied to wrt. the risks involved, market dynamics and what technically is provided and isn't.
I.e. besides burning people this crash could also lead to more regulation, potential much more depending on how it plays out.