No, like GP said, all it takes is for some people to sell large amounts of BTC, and for other people to notice and panic. That's it. IMO you're really overthinking things.
I suppose you're trying to guess why those first sellers would sell? Seems like a pointless exercise. There could be any number of reasons. A mysterious authority figure convincing them that BTC is overvalued is just one (unlikely) possibility.
I suppose you're trying to guess why those first sellers would sell? Seems like a pointless exercise. There could be any number of reasons. A mysterious authority figure convincing them that BTC is overvalued is just one (unlikely) possibility.