system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5:The bitcoin crash going on right now.

Seeing a lot of threads pop up about the Bitcoin crash, and all I know is that it lost half it's value. I'm browsing through the subreddit and one of the post is a suicide hotline.. Can someone please explain to me why it's so bad? Thanks.

edit:Wow, the front page.. never expected it to get this popular. Still overwhelmed by the amount of replies I got. Thank you for taking the time to answer my question.
gpt
The Bitcoin is only worth as much as people *think* it's worth. The Chinese shut down Bitcoin trade in their country, which makes the Bitcoin inherently less valuable (why would you use a currency that can't be traded everywhere?)

The crash happened because Bitcoin is a volatile currency. There isn't a lot of it out there, and people who have bought Bitcoin tend to follow the news very closely. When the bad news came out, lots of people started selling their Bitcoins, and the price consequently went down rapidly.

It's worth noting that the value of a Bitcoin is down to where it was last month - while this seems like a dramatic drop, it's par for the course. This is a good example of why Bitcoin is a risky investment.