With bitcoin specific factors like registry corrections, but let s start with the rising cost of capital which is affecting all assets. when money is cheap, and you can borrow freely, that is a boon for speculative assets, and if we look back at history we can see this has happened many times, it happened in the 19905, times, it happened in the 1990s, after rates went down low and when rates rose and were sold off, 94, we saw in 1999 when rates were really low, and money was widely available. and that resulted in cheap funding for speculative assets, at that time it was tech start ups, this caused of capital is really important it is affecting all assets, but it s especially affecting most speculative assets where money has been borrowed to buy. more