RE:Down it goes, illusion with Bitcoin is only illusion You think FIAT money has value? Have you tried to buy anything lately? By this time next year it will be $10.00 for a loaf of bread.
Gold is random and decoupled. It is not connected to anything. Years ago a $2,000.00 per ounce Gold would have the equities through the roof. Today they hardly react and junior start ups have trouble with funding.
Because I bought ETH at $305.00 USD and rolled it at $3500.00 I can afford $10.00 bread.
without question CRYPTO will languish here for a few weeks BTC as low as $30,000.00 and ETH about $2,000.00 Then it will break out again. China is not clamping down on crimminals . They are people trying to get their wealth out of China so they can live someplace better. They will find a workaround in short order and BTC will surge.
Elon only needs to change his focus to Ethereum from BTC, as the mining is Carbon neautral.
JMHO