Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks.
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Total speculation because I actively avoid the crypto world incoming. Sounds like someone with influence is trying to incite an artificial panic to induce a selling frenzy and then rebuy back in later. It's not going to skyrocket any time soon so the most potential short term money making strategy is to crater it and let it build back out of the slump.