My point is nobody has an answer to "Why did people bid up Bitcoin 5x from September 2020 to mid-Feb 2021?"

Maybe Elon is the trigger for the 30% drop over the last few days... but remember he didn't announce his initial holdings until mid-February 2021, which was after the 5x surge. If anything his timing was awful.

Everything in hindsight is pure speculation and rationalization. Nobody has a clue, markets are complex, volatile and full of irrational actors.