Bitcoin Forum

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns
Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

If  Death Note was real he would kill Elon for this nonsense.

You're shaken just after a 12% drop? Lol you must be totally new here. If you're THAT easily affected by negative press, you probably shouldn't be investing in the first place.

Welcome to bitcoin market, where people panic sell and panic buy regularly making the price very volatile. You should really spend 10 seconds and look at some charts. Just scroll through the years and look at the ups and downs. If you wanted to spend more time you could search the news on certain dates when there is a big panic sell (the big red candles on OHLC charts) and see the FUD that is circulating the internet at all times.
Here is a simple place you can see charts: https://bitcoinwisdom.io/markets/bitstamp/btcusd

yup we've seen that tweet and resulted to slide down to $46,294. for someone out there who watches his money-draining, he would really begin to panic and sell. that's how fast things could happen and if you go long on leverage, you probably get a margin call, and all because of a tweet. altcoins however are still strong.

if elon is really going to accept doge, he could just announce it without this.
 

Some one pinch me, either I'm dreaming, it's deja vu or we on some ground hogs day stuff in this lifetime.

Chillout man. Dips like these get gobbled up routinely in the world of Bitcoin. For those who are concerned about the prices of shitcoins going up and Bitcoin going down, you really do not understand cryptocurrencies.

Without Bitcoin, you will have none of this. No "investments" and no overnight crypto gurus telling you that you can 100x your money and earn easily. If you believed them, it is out of your own greed. Bitcoin has always been volatile. Musk is just a relatively new phenomena but as soon as the retail/ tiktok noobs get shaken out of the market, he will stop having so much influence.

Unless he actually tries to understand and contribute positively. If he continues trolling, the community will begin to treat him so. It is already visible on Twitter.

Tesla won't be the one to destroy Bitcoin, the market will. The thing is there's nothing to be shaken off over this news to be honest since they aren't just accepting some Bitcoins with their cars, that's their decision. Market was just dumb over the news or should I say those retail investors, I wouldn't be surprised if the said company bought more during this dip.

Tesla not accepting BTC payments for their cars is not a big deal,but the cryptocurrency market is always overreacting.
Bitcoin doesn't rely on the media to grow.BTC relies on the buyers.Unfortunately,during the last 2 years,Bitcoin relies on a few big buyers,in order to grow,which doesn't seem sustainable,even though the institutional investors are here for the long run.All the small and medium buyers are just waiting for the next Elon Musk move,or the next FOMO phase.
It seems to me that Elon Musk is a big hypocrite.Why the hell he invested in Bitcoin,if he is concerned about the environment?Bitcoin mining has nothing to do with the environment.Power plants that burn coal are the real problem.

Nothing to worry about. This move only proved once more Musk is a manipulator and you shouldn't worry at all. Now people know he is a person you cannot rely on.

Things are going to be great and it's a great time to buy the dip. We will see 6 digits BTC this year folks ;)

Just like I said.. Musk is the 2021's version of McAfee. Nothing different, it's the same kind of manipulation.

I'm wondering if this is the plan billionaires have today. The very quick transformation from enemy to support was so weird I expect them to attempt heavily at negatively manipulating Bitcoin's price. Musk should've done the calculus back when he invested in BTC, not today. Oh... but wait, he earned billions from it himself but the consumers shall not use BTC because it pollutes, lol. Either all of us or none of us. Can't call for payment suspension due to "omg pollution" when you cashed out a large bag of money recently from it.

This is a bunch of crap.....

Tesla should look at it's own footprint, when it comes to environmental impact. They did not build those cars and rockets from minerals that simply appeared out of the magic sky... those mineral was mined and mining pollution is real. What happens to all of those batteries that are used in all their cars, after it reach it's end of life?

How much energy do they use to build those cars and to run those manufacturing facilities?  On the other hand, most bitcoins are mined with renewable energy sources in China. (Hydro electricity / Solar / Wind)  ::)

"Destroys Bitcoin" Is a little bit an exaggeration. Bitcoin can grow so much even without the help of Tesla shilling it, it's just that Elon Musk really had us in there for a while. To be honest, it's not a big deal. With or Without Tesla, other companies are still eyeing on Bitcoin.

Tesla destroys Bitcoin? Lol what a clickbait title! It's just Elon Musk talking shit as always and market overreacting, as always. So I would say, just another crypto day. Or to sum it up with the meme


https://i.postimg.cc/Dw65s6Qk/mem2.jpg

Yeah right, like that 30% of the hashrate that went down after that coal mine accident in Xinjiang
Nobody is buying that crap about miners using only renewable and green energy and you can see the effects on your own.

But, that's one aspect of decentralization, unlike in other industries where you can force manufacturers to use only that and this you can't force miners to switch to hydropower or pay for certificates, they will simply move to another country where there are no regulation and the others can't do a thing about it, you can't tax them, you can't ban their "products" you can simply watch. Unless all the countries on this earth find a way to produce greener energy that is also cheaper than coal and thus making coal power plants obsolete miners will use it if it's cheaper, and, as we can pretty much see from the amount of hashrate in Xinjiang and Inner Mongolia and in other parts of the globe like Australia (https://qz.com/1250980/an-australian-coal-power-plant-will-reopen-to-help-mine-bitcoins/) coal is king.

Unless something changes globally nothing will specifically change for bitcoin.

Bitcoin doesn't care about that small car manufacturer.

Elon bought bitcoin earlier this year so he need som reasons to make profits from his bump so is using this as an opportunity to sell the bitcoin while he is accumulating Doge which can be clearly seen that he is promoting DOGE as payments so one day DOGE payments also will be halted because he thinks its a coin created for dogs not for humans then the price will fall after he sold his entire stocks.

Be a man not a stupid, Elon Musk is using everyone for his benefits.

There, I've fixed it for you  ;)


Correct. I don't know what game is Tesla playing, but all this sounds against the logic of their previous investment: selling some and telling they sold, now no longer accepting Bitcoin ... it already sounds like they've sold more than they've announced and now they're dragging the price down to buy back.

On the other hand, I think that the last correction is more related to what happens on stock market than to this not-that-important announcement (since, let's face it, how many would give up Bitcoin for a car?)

I wonder what will happen to you if the bitcoin price goes back to $10,000. :D

I don't know where's the part that bitcoin is being destroyed by Tesla. Kindly review how Bitcoin price grows in the past 1 year then ask yourself if a thing such as Elon and Tesla can destroy or able to collapse bitcoin at some point.

If you can't handle a dip like that in Bitcoin, then from now you have to be used to it.

Never. Tesla isn’t controller of btc. Price of btc controlled by all traders. I don’t know, How many tesla purchased with btc, But that was not create big demand. Yes, That was a good hype. But, Not everything of btc. So there is a no chance to destroy btc. Btc is decentralized top popular cryptocurrency.

It might be a big deal today but tomorrow it won't be.

You know why? because bitcoin is known to be one of the most resilient assets that we ever had. Just compare this when Microsoft had also announced the same before.

But what's with it right now? looks like nothing happened and bitcoin continued to thrive.

Maybe you should go back in time (10 years ago). If you are in that year, this should not be how you think about bitcoin.
But if you are new to crypto, it's better to look for information about bitcoin 10 years ago.

The bitcoin volatility is not totally caused by any social media platform, if you got shaken by this thing, then you are probably new in the crypto world, there is no surprise with regard to this thing, just keep holding, you might lose the chance to earn more if you are going to sell it all by just what happened to bitcoin right now.

The whole announcement of Tesla accepting BTC payments was a joke anyway, why would you make a business decision only to reverse it a month later because of reasons you should've initially thought out before making such announcement in the first place?

I saw that tweet of Elon, and I would say, the tweet is not really the reality behind Bitcoin mining. Many have been using renewable energy sources in other countries like wind and hydro, I mean they should have looked further and see what they are talking about. All I think about what's happening with Bitcoin now is that possibly Elon has already sold his Bitcoins and now he wants to lower the prices by putting out some a bit bad publicity behind bitcoin. Fortunately for the coin, Elon is only one of the many traders of Bitcoin and he did not get the price that he wanted to buy Bitcoins so he will try to put more negativity with the coin. As of today, many fans of Elon will now regard him as one corrupt businessman like most of them.

If this is your definition of destruction then you should probably leave the bitcoin market because this isn't even a crazy crash, Tesla still has their coins, they are just suspending their bitcoin payments for their products.

There, I fixed it back for you :P

Seriously though, I assume all this is only for attention. The Bitcoin mining process is well known and well documented, it's not as if any new information came to light. So I'm sure they knew all this already, which means they have other reasons for saying this now. It could very well be they're buying back the Bitcoins they sold last quarter, and need a price drop for it.

It seems to have backfired on his stock price though: Tesla stock and bitcoin drop after Elon Musk says car sales with crypto will be halted due to energy usage of mining  (https://www.marketwatch.com/story/tesla-stock-and-bitcoin-drop-after-elon-musk-says-car-sales-with-crypto-will-be-halted-due-to-energy-usage-of-mining-11620858326).

 ;D ;D ;D


Exactly. They do play some dirty game to take advantage of the already dropping price, somewhat in sync with the stocks.
The story is so weak it cannot be another reason. (Edit: For example also Tesla cars run on electricity i.e. coal, by the same logic...)


All the stocks have been falling anyway and all this tweet/story makes sense only as a short-term move imho.

Now, this is my What if scenario. I am not really familiar in the working of this big traders and brokers up top that handles corporate accounts. But what if, the only purpose of doing that tweet is to rattle Bitcoin so the price get to a low, and then they might be able to buy Bitcoins at a cheaper price again? Do you think that is the case? I am sure my common sense would dictate that would be the best thing to do. Get the prices low and then buy low, do another strategy to make the price higher again and then sell your share. What do you think?

I was ready for this. So I'm not surprised at all.

Elon Musk's decision affected Bitcoin price really badly. It came down to $46.9k in the last 24 hours. But now, it seems like it has started to recover again. Now, the price is $50k. This kind of news manipulate the price but they don't affect that bad anymore. Because Bitcoin is much stronger now.

Yeah, the market has been affected a great deal after Elon Musk tweeted about it. It managed to recover to $50k but it is below that level again. It seems that we could see Bitcoin price struggling at these levels for some time again. But I don't expect a sharper decrease (like going below $40k) in the near future.

No it didn't destroy Bitcoin I think it is too much to say that they destroy Bitcoin because no one could even the government couldn't destroy it.
It is normal for Bitcoin price to drop down whenever there are negative news about it that is the FUD effect for me.
Just wait and it would soon recover so relax and enjoy it no need to stress yourself about it.

Stop relying in some news around the internet because its not make any sense in here mate. Ahm probably you're new enthusiast wherien still don't have enough information how bitcoin really works..  So i suggest you mate do some reasearch maybe it can enlighten you.. Because on this kind of game if you fell into some fraud traps you'll end up your career easily without knowing.. So you need to be smart instead. I hope you got me.  ;)

Not completely but a piece of the puzzle that has left its place, all is still enough for bitcoin to go under the control of the media because whales are in dire need of such powerful undertakings, a suitable impact to lead to a price drop, Elon Musk and Tesla really give an unexpected card in decisive moments. However, a good investor will know how to lift their holdings to another level, such a bad trend will turn to a good outcome, bitcoin's time has proven this.

Lol, I am pretty sure Elon musk already knew about the environmental concerns since it had been a hot topic in the past to put a bad image over bitcoin. only a moron would believe he is actually concern about it now.

if you are easily shaken, I guess bitcoin isn't for you. also, bitcoin doesn't rely on media. sure media helps on spreading the information about bitcoin but don't give media too much credit that you think media will be the reason for bitcoin's collapse.

Your account says you are a newbie and no doubt a newbie to bitcoin in general. Nobody who has been in bitcoin for a while or understands bitcoin is worried in the slightest just become one market manipulator made a few bad/ignorant comments about bitcoin lol. All this did was once again show the market that bitcoin's BOTTOM is the 40,0000s! Only way from here is up.

no worries about bitcoin - but i will never buy a tesla or tesla stonk!

Very interesting but panicked. I already invested dogecoin and Bitcoin following elon musk instructions but every time I got huge lost. I again lost huge amounts of bitcoin profits tweeting elon musk as Tesla disallow Bitcoin. It's a another tricks of Elon musk.

I think you are new to the bitcoin world. There has been many attempts in past too where people / organizations attempt to destroy bitcoin or spread negativity about bitcoin but in the end they fail to make any sustainable impact on bitcoin. Same will happen after this statement by elon musk. Clever are the ones who are buying the dip.

Trust me, panicking is the reason for dump to become more longer, it's just 10% dip and we're still around $50K, remember just few years ago bitcoin priced around $8K what's with all the fuss?
If the reason of the dump is truly because of tesla, for sure the market gonna be recovering once many people realize that they don't really need bitcoin to be accepted as payment method for buying tesla because it's just unnecessary at the first place and the market will be moving on.

Some things never change in crypto and that is that hype and fomo always come and go in tidal waves and then people forget all about it when the tide goes out.

Bitcoin's resilience is proven every cycle, in fact,,, it becomes even stronger after every attack on it fails. We cannot hope for Bitcoin to always get full support from everyone, after all Tesla is a business and Bitcoin is standing for the opposite of things like Tesla.

Bitcoin did exist before Tesla and it will continue to exists after Tesla. There is no need to give so much important to Tesla and Elon Musk Tweets. Stop re-acting to him so he will realize that his words does not matter.
No fud can destroy the bitcoins and crypto currencies.

What's is the offence, i have noticed that this Elon musk is a name of person, what abnormalities does he commit, because in this scenario i have not seen anything bad, after reading the op post.

There is nothing much to worry as there were manipulations by the media from the beginning and the Bitcoin community was able to overcome many fake news and propaganda for close to a decade and these sort of manipulations by one if the richest person will overcome as well. The striking aspect is that he keeps on changing his position when ever he sees fit and he has done that multiple times and it will question his credibility and there will be a time when people stop listening to him as well.

My hat off to this Musk guy, he knows what he is doing. Being a media person as he is he adds to hype while market grows, helping it grow further. Then near the top he takes profit. And all media campaigns are just that, campaigns to help him make money, nothing else.

The decline in the price of bitcoin is not that big. you have never felt a decline in bitcoin price by 80 - 100% and followed by a decline in other altcoins. If you panic about today's decline, you should stop investing.

Either you're completely new to the crypto market or you don't read and check the authenticity of all the news..
We have already seen more BTC going out of coinbase today as well as Micheal Saylor announcement of more BTC buying. This is nothing in a crypto market, it's just to shake people like you and another opportunity for rich people to buy more.

Oh, come on now! I know the consensus is Elon is a fool, and everyone involved in Bitcoin has to hate him, but seriously he's much more than a car manufacturer. I'd say his more prolific, and impressive work is with SpaceX. So, although it does annoy me they have come out with this announcement, I won't just discredit him out of spite. I do believe this was a calculated effort to improve their brand reputation, though which just shows we the lack of courage they actually have. Since, they definitely don't have the proof that Bitcoin uses any more energy than several other industries out there.

It seems Elon already sold BTC to DOGE since he knows that these stupid investors will follow all of his words so he is going to hard dump the DOGE at some points.

Elon Musk also can be the possible reason why we see a 10K dump on BTC price but since the market is more bigger than Elon musk's influence the price will get back to its position sooner.

So bitcoin was dead before Tesla started accepting Bitcoin or Elon showing concern towards environment? Not at all.You should probably change your title beacuse Tesla or we can say that so called market manipulator Elon tried to create FUD about Bitcoin in the market.This is not the new thing as people panic sell their coins after such news and then incurr loss but most of the whales invest at this time to gain profits in the long run after recovery.You should not be shaken because Bitcoin will soon recover as it has been in the past and you will regret of losing the opportunity to invest at these times.Just check past charts if you any doubts and then understand these types of Fomo and FUD's about the market.Elon is following the same path as Tesla has already made huge profits by selling their fair share of investment and now dumping the prices to invest at cheap prices.

Is this another "Bitcoin is dead" moment?  Some people are acting as if it is.

He did not make Bitcoin and he won't destroy it, be real people!

How much did Bitcoin rise right after his tweet? 10%? Before him we had serious gains and we would have serious gains without his tweet.

Seriously, how many people actually bought a new Tesla with Bitcoin? 10? 20? It looks like a joke figure compared to Tesla's annual revenue. They don't need you to buy their cars with your coins and you don't need them to pump bitcoin!


Does this qualify as death threat? :D

He won't really destroy bitcoin, but well the news will surely make impact to the price. But still, everything doesn't revolve around tesla, don't make as if tesla will control everything. It's only one of the factors out there that can affect bitcoin, in fact, a lot more people will still invest and believe in bitcoin, without caring anything about tesla at all. Don't worry, bitcoin is not that weak, we should believe and stop making or following tesla, elon musk or others similar figures. Just believe in our own decision and thoughts.

its them not he because tesla is a company .
 they cant destroy bitcoin as a whole but they can make a huge damage if they own a big portion of it .

its rise was not 10 percent its more than that but before them we have paypal and others that also contribute big in the growth of bitcoin .  
i only knew 1 people in this forum that bought a tesla with his bitcoin but theres millions of rich people outside that can do the same with thier btc  .
they need us because we are costumers and we need them because they can contribute in btc .

That is a bad information for crypto currency sphere. Bitcoin has decreased a day ago and touched $46000 barrier. Seem like Elon Musk is trying to manipulate bitcoin price movement even for crypto price as a whole. Because there was a sign bitcoin price will fall since its pricd just failed to passed the previus all time high $65000 and that is why Tesla announched that they will remove bitcoin as a tool to buy their stuff. I hope there is no company which follow Tesla because it will give a bad effect for bitcoin price movement.

He didn't kill Bitcoin; instead, he tarnished his reputation in the crypto world, and many of us, including myself, are now disappointed in him. It's clear that Elon Musk or his team didn't do any study on Bitcoin, and one of the fundamentals of cryptocurrency is to do your own research, which they didn't seem to do. They claim that Bitcoin uses a lot of energy, but in fact, a lot of energy is wasted on other non-sense stuff just to keep us entertained.

Besides, it's just a simple correction for me; I've seen a lot of dumps in the last few years, and I won't be scared by this simple dump.
Read this, BTC uses renewable energy. https://coinshares.com/assets/resources/Research/bitcoin-mining-network-june-2019-fidelity-foreword.pdf

Elon cannot destroy anything. He's not strong enough. It may create a short-term manipulation, but it is an inevitable fact that the bitcoin and crypto world will dominate in the long term.

The market started dumping as soon as Elon Musk tweeted about Tesla no longer accepting BTC payments. This in relation to the US stock market downing due to inflation has contributed to many panic selling.

It is an indirect effect but one that did start with Tesla. Unfortunately, only the strong hands buy in the dips while everybody else hurries to sell. hopefully the market stabilises soon.

We had seen this scenario so many times.  And every time Bitcoin price collapses it bounces back reaching another all-time high.  This is just a normal trading dip, nothing new, nothing to panic.  Actually, we should be happy because Bitcoin is on sale with a huge discount.

Well, most of the news I hear about Tesla is that they won't make the number of cars they planned or that they earn more from carbon certificates than from cars.
All in all, they're not where they should be, or would like to be, hence my statement.

Although the ideas are good, I don't see any breakthrough there. The industry still has its disadvantages because they still rely on overly expensive and ineffective batteries (for the job), although I don't deny that the cars do look good (not the truck though).

And Tesla is not SpaceX. And Tesla is not only Elon.

Now i understand the concept of everything you are saying, this Elon is person that is against cryptocurrency, from what i read and understand about cryptocurrency, i found out crypto can not be destroy by any one even to manipulate it is not possible, this crypto everybody on Earth is talking today is a plan of one man which is Satoshi nakamoto and only him as i may think only him has the key of crypto, the  necessary documents belong to him also, so whoever that come in respect of destruction of cryptocurrency will have the format before anything, in summary it's not possible for the so called Elon to destroy crypto.

Tesla has suspended vehicle purchases using Bitcoin, citing concerns over the cryptocurrency’s effect on the climate, the company’s CEO Elon Musk announced on Twitter.

It was closer to 21% drop if you count the recent top, which is double from what you say. Not something to shake me off though, however the lower low seems to be very important.

I'm even glad that companies like Tesla will get rid of bitcoins now. Because if they had such opportunities, they continued to increase their share of investments in bitcoin later, the same thing would happen. only the losses to the market would be greater. In general, the reason for the sale seems to me very far-fetched, most likely the matter is simply in problems in the company itself, and the environment is just an excuse not to look too "bad" in the eyes of the community. Calm down - someone else will definitely take the place of Tesla, and no matter how long the price falls, it will find the bottom and then someone will buy all this free volume of currency for a very attractive price.

Nobody has the key to cryptocurency or bitcoin to be more specific to just shut it down if that's what you meant by Satoshi having the key to bitcoin. If he was to resurface today, I doubt if he'll have much influence on the market unless he was to cause fud by dumping those 1million coin he mined early in the days, which will send a wrong signal of the founder of the biggest innovation in the 21 century dumping his plans.

Bitcoin is a community project that has constantly been improved by the community. It's the closest to decentralization we can ever get in the industry. In regards to the recent news from Tesla, I just believe it's an attempt to manipulate the market and nothing else.

I won't be surprised if we find out the government are behind this, those guys are capable of doing anything just to keep staying or having power over the mass which bitcoin is a threat in the eyes.

I am curious, how many Tesla cars are sold using Bitcoin?
maybe there is no interest in his product, so it is not a big pity if he excludes Bitcoin as a method of payment.


he just wants to manipulate the price to make a bigger profit for himself, which is already working with Dogecoin. There is nothing more than that.

That is to show you that the media have both positive and negative influence on the price of bitcoin. However, maybe because you are new to crypto. 12% fall just because of the Tesla tweet about bitcoin is not that big deal as you think. It will surely recover back

Something to learn today. You can't trust Musk, how come he has just figured it out about the impact of Bitcoin on environment? It was all planned.

Google:

Elon Musk SEC

There where already some cases.

Didn`t know that. Thought he is a good guy.

Now, my opionion about him changed 180 degrees.

And we all seen that from the past. Bitcoin falls to the point that many got dissapointed and left this indutry, then bounce happened and unexpected businesses and personalities start to acknolwledge Bitcoin existence.

Currently this downfall may find it's deep and begin to recover little by little, we never now what really is the plan behind and who's creating this artificial fall.

No relevant information connecting this point, Bitcoin is Bitcoin and it will stand and rise back!

Only few amounts of people are preferring to invest in bitcoin with car tesla. So don't to be fear about Elon musk announcement. Market would be corrected within a few days. May be it's a elon musk tricks from government agencies/ security exchange commission (SEC).

It is quite wrong to rely solely on the media to grow. It is healthier to grow with the support of the media and with the support of different fields. only hollow growths are experienced thanks to the media. This growth will disappear in a short time. but what the tesla did is a little strange. giving support first and then suddenly changing his mind does not seem realistic to me. bitcoin is hurt, but it doesn't take long to recover.

People who are affected by the negative news related to Bitcoin, may indeed be new to the world of crypto. For me, who has been in the crypto world
for more than 5 years, I think the negative news made by Tesla is not a big thing to worry about. After all, a 12% decline in prices in 7 days is still
normal and there's no need to panic. I am also optimistic that in the next few days Bitcoin will recover. So this is indeed the strategy that Elon Musk
did to make the Bitcoin price fall and Tesla could buy Bitcoin at a low price.

Once again Elon Musk and his company try to manipulate the crypto market and take advantage of it. Damn!!
I assume that Elon Musk is getting more understanding of how to take advantage of crypto. He did a trial on Dogecoin, then he tries to take more on Bitcoin. However, it cannot destroy Bitcoin as Elon isn't the Bitcoin creator. He also cannot control fully all Bitcoin supply and the crypto market around the world. What he did just take a temporary impact, it won't last a long time.

We don't know his real motives here. But yes, maybe, he is now secretly accumulating bitcoin again.
But in any case, bitcoin will not be destroyed just because of him.
Bitcoin survived for more than a decade, and Elon just joined crypto recently.
He may have influence in the market, but he is not the ultimate factor that can decide whether bitcoin will die or not.
Bitcoin will go up again in no time. Just don't panic as a lot of big companies are already involved in this market.

AFAIK the media news are part of fundamental analysis (F.A),bitcoin its actually the same for every asset or commodity that is trading in the financial market, good news pushes prices upwards while bad news make the prices plummet, tesla stopped accepting bitcoins that's why the price of bitcoin dumped,but that doesn't mean it will collapse the recent dip was cause tesla stopping people from using bitcoin to purchase their vehicles when the media brings a good news you will bitcoin recover from this dip and pump back up.

What is the meaning of the decadent sentiment - Bitcoin cannot be destroyed, not a single Tesla, or in collusion with someone, will ever be able to do it. We should be happy that the market allows us to buy at good prices, and not throw our anger at Tesla.

I don't think tesla can destroy bitcoin, but it's sure to affect it very badly. We see that it does more harm than it destroys, and this loss affects the market negatively. people may want to withdraw from the market. this will be due to telsa and elon musk. new investors will not want to come. newcomers will want to go out too. affected the market badly.

By him I mean Musk because Musk IS Tesla. You can believe that this company is doing it on its own, but in reality there's a CEO who pulls all the strings. By saying that Tesla did something you're saying Musk, just like when you say Amazon did you mean Bezos.

Right after his tweet doesn't mean a month later. It means within a day or two because that's a direct reaction to him announcing it. Musk was only one of many contributors. Hedge funds bought more than him.

1 person on the biggest bitcoin forum bought a Tesla? You're basically proving my statement.

I mean yeah the news is not that great and really has a negative effect on the market price of bitcoin bringing it down to 50k$ but I don't think that could kill bitcoin at all.

yeah for sure, we did see bitcoin reach up to 40k$ without the help of Tesla, because we did past the 50k$ because of the Tesla announcement of accepting bitcoin as a payment method when buying a Tesla car.

I don't know if the tweet or the reason is acceptable for some of the investors but it's not that bad that this happened but its just gonna delay the growth of bitcoin or passing the 100k$.

Exactly!

New people who had just recently jumped in into this market will usually freak out when they do saw such dips in price just because of some news and thinking that -12% drop isnt something

that you should panic on and by just looking into the history itself then you can eventually tell that this is just a normal day here on crypto.There might be some news attached to it but doesnt mean

that it would be the end of everything. Market price does make out corrections and its a typical thing and you should get used to it because if you do let your emotion do control you anytime
then its hard in terms of investment decisions.

Some argue that Elon was pressured to say that "Tesla has suspended vehicle purchases using bitcoin."
Motivating the price of bitcoin to drop so that companies buy bitcoin at a lower price.
Bitcoin has already gotten used to these moods. We often search the news to find out what's new to understand these price drops.

In my opinion we must be aware that if a lot of money is made with bitcoin and cryptocurrencies we must demand the use of the most environmentally friendly networks, we need to act against the effects of climate change and support the leaders of this cause so that the planet is the big winner.

Elon Musk do what he can, but is there any way we can retaliate on his proposal to Bitcoin. Few crypto enthusiastic guys canceled their Tesla Cybertruck order, and sold out their TSLA stock. Honestly, I don't think this is just a small portion and won't make any changes. However, people should short TSLA as we did long with Bitcoin.

Media is making it look like that companies control Bitcoin's price, but if you've been here before like 2018 or something, you'll realize that there were more events that liked "destroyed" Bitcoin but still managed to rebound.
From 20k to 4k back in the days was one. This drop isn't anything new anymore, OP.

Its true that bitcoin wont be effected in the long run by Elon Musk but we need to remember that he has a 54.5M Followers on his twitter profile. If his positive words can pump the bitcoin, it can also dump the bitcoin with his negative words. We have already seen some negative effects of his tweets recently and he can move the current market.  :(

This is a normal human reaction to a decrease in the price of his investment. But you rightly said that this is normal for a person who has just started investing, for an experienced investor, such a reaction is unacceptable.

Everyone who chose bitcoin for investing understands its advantages and prospects, he expects in the future that bitcoin will be very expensive in the future. And Tesla is not capable of destroying bitcoin, these are just manipulations for which someone will have to answer, I hope.

I agree here. I mean, I think he's a bit of an idiot and and egomaniac (not sure if that's the right word) but he has done a lot of really good engineering that will help the future of electric vehicles and space travels.

You can't have it all. Geniuses are hard to work with and even harder to live with. And everyone was happy when he pumped crypto, so we should also be happy he can also dump it. It takes a world to make crypto:)

That's certainly not a good publicity for bitcoin. But on the other hand I heard Elon is now thinking about accepting Dogecoin which is the most surprising. Isn't doge also using PoW just like Bitcoin? I thought he was searching for a non-PoW coin to accept for his cars.

Anyway I never liked his cars so I don't really care.

I wouldn't get one if he was throwing his cars for free.

Bitcoin will recover soon but it is Tesla which will be destroyed if elon musk fuds about bitcoins. Elon Musk tweet wipes $14bn off Tesla's value (https://www.bbc.com/news/business-52504187). People will hate Tesla if Elon Musk keep on targeting bitcoins and promote Doge.

nothing will destroy Bitcoin, including Tesla and Elon....Bitcoin is controlled by all of us, the news about Tesla only make small corrections and after that everything will return to normal, within 24 hours after that news spread the Bitcoin price was still stable at $49k-$50k.  

12% is enough to create an unhealthy environment. You have to understand that there are a lot of new investors and they all want to increase their capital with bitcoin. But with such tragedy, many newcomers have been blown away. Long term investors may not be affected, however, it is 100% novices are being in the depth of pain

It is a test as to who deserves the big profits, now if these new investors think that when they bought bitcoin, they can already profit really quick then they deserve to lose their investment because they are greedy. Bitcoin alone will not be a good money making machine, if you don't have the patience then you won't be able to get a profit out of it.

Bitcoin is not related to Tesla,sure Elon Musk impacted the price when he invested in Bitcoin first and is also doing the same now by saying he will not accept Bitcoin as a form of payment for Tesla cars but I think he intentionally is doing this to make the price go down and buy even more Bitcoin at a cheaper price thus increasing his capital.In the end the price will skyrocket again and novice investors should not be scared of such price swings.

At the moment I think we doing the damage our selves, not Tesla!

If you remember back in the day when markets were volatile  a 10% was normal and we moved on, now Tesla pulls out and we giving them free coverage on the forum, TV stations , the list is endless and we keep giving bitcoin a bad picture, let's move on bitcoin is a free market and people will always jump ship,it's normal.

Its an investors dream, that's why Bitcoin is so lucrative to traders. Its fallen a little over 10%, and the Tesla announcement is likely going to effect Bitcoin in the short term rather than the long term. I don't understand all the doom, and gloom. Their message which, I've said smelled like an attempt to improve PR relations, wasn't even that bad.

New users probably suffer the most, and might panic sell after an influential business has discontinued payment of Bitcoin, but Tesla isn't vital to Bitcoin adoption, nor is Tesla the likely candidate for most Bitcoin users to buy a car from.

I was just surfing across the instagram and I came across one of the crypto related page on my feed and saw this image and wanted to share on this thread.Every time the market is down the panic sellers get into this trap and think now btc is going to crash and is most probably dead.


Bitcoin don't need any single company or rich individual to grow in the market and people holding it will eventually be the real gainers in coming days.This market is not for some panic sellers as they contribute worse to these corrections.

For me it could also have been a coordinated attack. I would like to know whether right before his tweet there were some suspicious shorts on Bitcoin in the market or whether he really posted that message against Bitcoin without letting anyone know in advance.

It doesn't work that way. In the first place, Tesla does not own bitcoin, bitcoin was used by Elon to hype the market, but Bitcoin will survive even without Tesla. Besides, Tesla is not the biggest in the market, there's a lot of big company that will eventually adopt with bitcoin and it's nice that we know this early the real color of Elon Musk.

Maybe Elon is enemy i think

The history of Bitcoin has experienced more horrible events such as the MTGOX exchange having $84 million in Bitcoin stolen in 2013, Binance, Bifinex being hacked, China, India banning Bitcoin in 2017... We were here and saw the most recent Bitcoin price drop of 50% in a few days in March 2020.
Tesla just dropped Bitcoin 12% and it's not too bad. Bitcoins are indestructible and never die.

I dont think Tesla withdrawal can destroy BTC. BTC went to 50k$ without tesla support, MUSK joined the party when BTC was already up. It was good buying opportunity and I am happy that I bought some BTC on 48k$ yesterday.
Buy when everyday fears to buy

Actually not, the first question is, will bitcoin rise this far if not because of Elon Musk's support? My answer is no, Elon hype bitcoin then later DOGE, so it's just normal that bitcoin will dump when it left by Elon but that did not make the market collapse, and even if the price will fall, at least we enjoyed a bull run and bitcoin reach a new ATH.

Bitcoin is volatile, it has a bull and bear market, we enjoy where we are now, but be always smart not to fall for the manipulators.

Indeed, no one knows the true motives that Elon Musk has done, only he knows it. But I do agree with one thing, that whatever Elon Musk does
with his influence, will not be able to make Bitcoin die. The current drop in Bitcoin price is only temporary, as many new investors panic to see
the Bitcoin price drop below $ 50k. Even though old investors like me should think that the current decline in Bitcoin prices, is a good opportunity
to buy more Bitcoin. So just be patient, in the end the price of Bitcoin will go back up again.

These things were planned well in advance and Elon is not some innocent little kid like many would like to believe. There is no point in looking at the orderbooks for Bitcoin, as BTC is very difficult to manipulate. If you really want to find out who benefitted from this, then I would advice you to check the exchanges where Dogecoin is being traded. For the past several months, whales have been accumulating DOGE. And the price was being kept artificially at a high level, even before this tweet. It is possible to manipulate a coin such as DOGE, which has very low liquidity. But the same is not possible with a cryptocurrency such as Bitcoin.

I have always hold the belief that Bitcoin is too big now to collapse just because a company has refused to accept it even if it's the company of the richest man on the planet. Bitcoin didn't even react when POTUS (Trump) in his Twitter called it a big scam, then no matter what someone says, the value of Bitcoin will always stay and never plummet unless some sort of catastrophic event takes place :)

I don't believe you don't see what's driving him to do those crazy things, his goal is to accumulate the gaze of the majority of crypto participants, attack bitcoin so the whole community revolves around him and promote dogecoin personal investment. This show is running very smoothly, Bitcoin is dumped while doge has small rallies, value is increasing again amazingly but nothing can destroy people's opinion of bitcoin, doge's value always needs to be connected to bitcoin, take a big round and Tesla will talk about bitcoin again

Bitcoin has a strong foundation and it couldn't be destroyed by a single person no matter how influential and famous is he. Drop and dump like this is normal especially if people are panicking. Bitcoin has been through a lot and it faced lots of rejections before so I must say that Bitcoin is strong enough to face destructions like this.

To be honest it was a really smart move by him if you ask me. He made so many people get interest in bitcoin and invest in it which increased the value and sold all of it and made soon decent money out of it lol. It is funny how people blindly sell their coins in loss because certain situations like this, Just be patient guys and give it time to grow its not always gonna happen overnight is it.

Elon musk joined bitcoin just to dump and manipulate bitcoin tesla is still holding huge amount of bitcoin so I see no reason why they should stop accepting bitcoin I believe Elon musk just have to leave cryptocurrency for us and stop manipulating price for us bitcoin price have never been like this before and I believe if Elon musk continues like this bitcoin will definitely dump but he will also lose his value and respect people are giving him which will also affect his business.

Better to analyze the situation before doing anything, it's another cycle and those who sell with losses will realized that the market
will bounce back,

Musk is a businessman so what to expect from such  kind of mentalities, he already enjoyed the profits that he gained after doing some stuff online and attract newcomers to this field of investment.

Take time and not to rush with conclusion, there's always good thing to happened along the way, best to work with it.

Elon Musk has made a lot of doubts on investors especially novice investors who mostly trade on bitcoin investments while they messed up themselves, it's clear he will make new speculations about prices, later on, I think if we continue to look at him then he will definitely get caught up in the current thing after Tesla banning bitcoin payments is going to be a very deep panic.
In fact, I will continue to see how the plot of this drama will continue to see from some conclusions about bitcoin in the future. If it recovers then Elon Musk has bought and will get a bigger profit.

There is too much talk about Tesla. Even though Elon is making a difference, the focus should be adjusted. The Tesla effect is turning negative, and that doesn't have to be. There is so much good about Bitcoin and Elon is above that, it shouldn't be compelling. Please pay attention to all the news and don't let the negative guide us so strongly. Watching and analyzing is okay.  


I think, you got it.

He's smart and he knows how to play the market and he treats it like a game which he manipulates easily.
You've said it! they are selling because of the FUD that has been spread by him and they don't think that bitcoin will recover afterwards. And there's a likely that it will eventually go back to $50k, $60k and so on.

He may already join years ago, but he didn't publish it to the public. But now, he is very active to talk about Bitcoin, Doge, or other crypto coins. I can understand if you suspect he joined only to manipulate and take advantage of his popularity. However, a person like him will be always there, everyone must remember we have John McAfee before. So, this is a challenge that must be deal by crypto market and all the users. This just make a crypto market be stronger and all the users more trust in crypto.

From hero to hater just after tweeting is real. Indeed! lol

btw, I didn't think this post would get this much attention

It must be admitted that elon has the biggest role in increasing the price of bitcoin this much. Now we are angry with Elon that bitcoin is falling, yes, but if it was not for him, we would never have seen these places.

Tesla Inc was founded by Elon Musk, Martin Eeberhard, and Mark Tarpening, but I don't think Tesla can destroy bitcoin, even though Elon Musk said bullshit wants to close bitcoin, but bitcoin will grow, and it will grow forever,, price drop That's normal. .
don't be easily provoked by public opinion ..

As far as I can see, Bitcoin is not destroyed. It is still thriving, although the exchange rates have dipped below $50K. Elon should worry about his crappy Tesla EVs. From what I heard, a number of major automobile manufacturers are going to enter the EV sector in a big way. There will be more competition, and there is a chance that the overpriced Tesla cars will be destroyed soon by other manufacturers such as Toyota and Volkswagen.

What if it did? and I took the attention.  8)
He did influenced a lot when bitcoin has reached to $62k and he really did well helping bitcoin reach that price due to his influence and now the game is changing on his terms.

Why then did Bitcoin literally crash after his post that Tesla won't accept Bitcoin anymore? Isn't that manipulation per definition? I would say so. If some guys placed shorts with leverage 100x shortly before Musk made that Tweet, you can imagine how much they made from that. Bitcoin lost like 12% or so? 100x that 12% and give it a $10 million underlying... That's a lot of money!

Why do people get manipulated so easily? Bitcoin is not about Tesla. Ok, people no longer can buy car with a Bitcoin. So was? Not everyone dreamed to do it. This is not a manipulation, but herd instinct. One dumb started making big deal from it, other pumped that, which caused to a panic sale. I dont even think that many has bought tesla using Bitcoin. From my point of view, this is not a manipulation, but shortsightedness of some individuals.

Elon Musk has been bessed to his true nature, his arrival with bitcoin was just to do a short pump, and in the end they broke him - this cost new people a lot of money. I hope the market recovers soon, or Elon Musk won't be trusted by many anymore.

Bitcoin will continue to grow, even if Elon Musk stays out of bitcoin. I prefer healthy bitcoin growth, technologically evolving and then rising slowly, rather than a hard pump, and so will it. Elon Musk just came to hype. After a few days they suspended the payment of bitcoins and then they confirmed they had not sold any bitcoins. But, no one knows the truth, I hope the market recovers soon, and Tesla is right to support the development of bitcoin in the absence of an unhealthy strategy.

Before entering cryptocurrency trading we have been reminded that cryptocurrency investment is fraught with risk. They're the ones coming in because of Elon Musk, it's only natural that they're upset with Elon Musk. However, I have experienced bitcoin fall even Cut loss at 80% in 2018, I hope 2018 will never happen again.

It is not good and there's another latest news about him being one of the richest.
Elon Musk is No Longer the World's 2nd-Richest Person After Tesla Shares Lost a Quarter in Value Since January (https://www.entrepreneur.com/article/372231)

I wonder if he can add the option of buying Tesla for the DOGE he likes so much

It is possible that what Elon Musk and Tesla did not to destroy Bitcoin, because even Elon Musk certainly understands that it is impossible
to destroy Bitcoin. According to my prediction Elon Musk did that to make the Bitcoin price fall, and it proved that what he did worked,
because the Bitcoin price fell below $ 50k. So Elon Musk will take advantage of this moment to buy Bitcoin at a low price, as you say sooner
or later it will reveal Elon Musk's true position.

Do you think that after the dip, he will be able to manipulate the market further and made a change heart now saying nice words about Bitcoin? I mean there is this chance that he will buy bitcoins at this dip and then after the dip he will try to do things so that bitcoin's price will increase? I mean people, many people doesn't like what he did in the market. So I think there will be another person who will suddenly say good things, another billionaire or maybe the Queen of England perhaps, all of them might be in the same game and bought bitcoins, then one will tweet and the whole world will scramble again.

Yes I 100% agree with you. He will do the same with DOGE one day.

This guy is just looking for some $$$ more. In my humble opinion, that's ridiculous to manipulate markets with the goal of earning dollars, when you are actually one of the richest man on earth.

Probably won't happen. Because if he loves Doge so much, it would be the first to be added as an accepted cryptocurrency. But it seems that it's the best option that he can make.
That's right, if he knows best about bitcoin, he's doing it accumulate more or there could be the other truth that he's just really here to manipulate the market if he cannot entirely destroy it.

That hasn't even made tha much of an impact on the price, it did make a drop but what is decreasing the price rapidly is the panic made when it dropped after that event. People started panic selling and made the price drop even lower than it could have. It would have dropped at some point no matter what, so this isn't a big deal it just made it faster and earlier than expected.

I think partly deserve the blame but honestly if we're being real here, the market shouldn't be that easily manipulated by a company, I mean the market cap of bitcoin itself is really high as well as the bitcoin volume. most of the time that allows whales to manipulate the market is when they build opinion on many people on how the market should be whether bearish or bullish and that's unbearable for us who just following the market. Tesla dumping 1.5billion should leave some kind of dump in the market but shouldn't be as big as the current dump, after all the current dump heavily influenced by elon making some opinion against btc.

What a title buddy! Just listen, BTC is a strong and popular cryptocurrency. Tesla can't destroy btc. Tesla and musk invested on btc for making profit and they hit on their target.

Partly indeed and what about China's banning crypto? for sure that really create impacts to what happened, lots of investos fears to lose more money so they rush selling their assets.

Fuds really hurting this market, if you failed to work with your research you'll also feel the same way, fearing that the crashed will damage more from your investment, cutting losses will also came to you as back up.

Forget about those news if you are into long term investment, Bitcoin already gained interest from more people around the world
expect that it will bounce back and rise for more.

Today he again manipulated the market with a post about DOGE

Right. The owner of Tesla said that he did not accept electric car transactions with Bitcoin, immediately this virtual currency lost thousands of dollars in value. By making a big impact on the bitcoin market, Tesla is destroying this market when it can let bitcoin peak and go downhill without brakes. It is dangerous to let Tesla control the bitcoin market. We need to have a proper solution against Tesla.

Just as the usual routine he goes. He'll always do that because he enjoys it and there's an advantage for him. And the market is just going with it and reacts the way he wants it.
It's better to stop following him if you are quite exhausted with what he does.

hello sir, this is bad news, I see bitcoin is still bleeding and always going down will bitcoin repeat its gloomy period, we all hope and hope bitcoin is fine, some of my assets are still in bitcoin and now bitcoin is sick

Incredible how much of an impact one man can make on a whole industry   :o

The impact of having Tesla removing bitcoin as a mode of payment is paying off at the moment. It just show off how much influence Elon Musk has over the people considering that he is a billionaire and is famous for space explorations. Now, the market has turned red and bitcoin is currently experiencing the largest dip or the worst correction it ever had ever since the bull run started. The question now is who would stay and keep on holding their bitcoin because this time would filter those who really believe and bitcoin and those who are just going with the trend because the price was high.

Massive dip in BTC and other cryptocurrency coins is nothing to be compared to what happened to BTC way back 2018 and rejection of BTC as payment for Tesla is not only the reason why the market goes down. I think it's not really a big deal if they don't accept BTC as payment but the market overreact and many people over-exaggerate their statement which affects the market.

Tesla really demolished the market after removing the Bitcoin payment method for its cars. Elon Musk has drawn really a huge attention after that. People are still continuing to shout at him and want him to stop manipulating the market.

- There are not many suitable solutions for struggling with Tesla when the relationship of Bitcoin and Tesla is not very special, both are separate representations of different products, so they remove payments like bitcoin or even add a new payment like dogecoin, it will belong to the privacy and wishes of Tesla, except to be silent and consider the situation, there is nothing we can do to force them. What they destroy is just a small corner of bitcoin, the underlying foundations have not been destroyed and can still recover with time.

only one company and only one person who does not accept bitcoin, in my opinion it cannot destroy bitcoin, because the Tesla company, and elon musk are not big bosses in bitcoin ''
they are just investors, not he who holds bitcoin, but the market that holds bitcoin. ''
don't easily believe their words ''
they are business people maybe they have another purpose behind their negative tweets about bitcoin ...

Due to his statements and results the bitcoin market is crashing and just to add the fuel China jumped in and banned mining resulting in double fuel to the fire and causing bitcoin to plunge below 40k now. Though it will recover and move back up again, but might just have some hurdles again in between and take some time to rise.

Tesla can't destroy bitcoin. Though the founder of Tesla, Elon Musk make hype by tweeting about bitcoin in his Twitter account and announce that he will accept Bitcoin for selling tesla car. For this announcement and tweet from Elon musk, people started buying Bitcoin and holding them. For this reason bitcoin Price going to increase enormously. But when agin Elon musk tell that he don't accept Bitcoin for selling tesla car then people who hold bitcoin they got afraid and start panic sell of Bitcoin. For this in last some days Bitcoin price going to decrease. But for this you doesn't tell that tesla destroyed Bitcoin. Bitcoin is a Crypto currency. Its price can up and down any time. This is normal. I think bitcoin price will increase agian when people stop panic sell.

The mess we're currently in is his creation because of his beliefs that he is the sole decider of what happens in the Cryptocurrency community of the late. If not so, how can he be bragging of developing DOGE in abandonment of Bitcoin which we all know as the father of crypto.
Now, the DOGE he thought would be his safe haven is now gradually getting back to its starting point.

To be honest, I am seeing you as new here because of the little dip in the market and yet you are worrying so much. All of the pioneers and veterans here in the forum are already used to on a little dip in the market. If you are not full confident on your investments then you can get out on the investment and if you are not that risk taker then probably this industry is not for you. Make a practice that whenever you are entering here you must ready on what would be the possible consequences of investing in crypto.

I agree with you too and I think s/he is new to crypto space and do not understand that this is normal with the cryptocurrency market. You must have done some research on how this market operates before investing to understand that there will be days like this but there will always be a bounce-back sooner or later, that's a given.

I wonder whether Tesla will decide to start Bitcoin payments again after a not very long time. Because Elon Musk was so wrong about Bitcoin mining. But I'm sure that he also knew the truth. After drawing too much attention to himself, maybe he can decide to reverse things after some time.

I am with you in this regard, people shouldn't be as easily manipulated. Though we hav seen over and over again that it does happen and I am sure Musk knew what could and most likely will happen if he makes that Tweet. Those who were short on Bitcoin made a fortune.

I think it’s definitely NO. I agree with the decision of Tesla not to accept Bitcoin as mode of payment to their company. Tesla is very concern about the environment so they use electric instead of fuel which is future of the cars. It didn’t destroy it in fact we should be grateful that Tesla are very committed to their goal to save the earth and I’m sure they will find alternative way to resolve the environmental concern of Bitcoin.

Probably Elon&Tesla are not alone in this. The bad news came one after another. The IRS stuff and China ban happened right after Elon. He probably knew what was about to come and maybe he tried to warn people. I can't really tell. Or maybe he just didn't care at all.

Tesla and Elon Musk destroy bitcoin, for now just let him play hide and seek ,, because I am very confident that in the future he will definitely adopt bitcoin again, and will come back to accept bitcoin, and elon musk will definitely tweet positive things about bitcoin ..

Tesla and Elon can't destroy Bitcoin. Impossible. Few days we are witnessing a red market. Fuds are constantly given. Not only Tesla,I guess sharks are disturbing the market to collect BTC at the best price. be patient,don't panic sell.

I approve this.

Everything is said

It is true that today the red market, the price of BTC has dropped dramatically and other Alcoins have also dropped. This is a great opportunity to want to invest in bitcoin or alcoin which has the potential to like coin eth and binance I am sure in the future the market will recover.

Tesla only succeeded in causing a dip fall in Bitcoin price but can't distroy Bitcoin completely. News plays a big role market price of any commodity. Tesla halting the use of Bitcoin in it's industry had a very big impact on Bitcoin price but if a positive news poops up or everything goes back to normal after a long while Bitcoin would certainly regain back it momentum and rise back even though not with much profit it might likely go back to do a retest on it's previous highest point so far based on market capitalization

Bitcoin don't need Tesla, but world need bitcoin. Today, technology become more advance and online or virtual payment is very needed. If Tesla don't accept bitcoin then Tesla loss their potential customers from cryptocurrency community which is keep growing everyday. Actually, for me the recent situation of bitcoin market is not so bad, panic selling and panic buying are frequently happen. The positive thing is we can buy bitcoin at lower price.

No one destroyed anything, you all are just ungrateful pieces of shit who still think s that 30k USD isn't a lot of money when back in 2020, we are still struggling to get to 10k USD. The market will recover and implying that bitcoin was destroyed means that the prices went to zero.

The market may overreact by the media. Not much people have long term vision and the whales free to manipulate the market. So sad for the poor guys.

In fact, I don’t think there is any need to panic. Because of Musk’s recent behaviors, I think that in the minds of some people, his influence has been gradually lost. With the development of Bitcoin, the influence of personal media will not be too great, even Very tiny.

People making topic such as Tesla destroying bitcoin etc only make btc further go down, if not for elon and his company being overly glorified i think such opinion will just disregarded by most of us, remember when mark zuckerberg named his goat bitcoin? no one actually care and it doesn't have any impact to the market but with tesla, people could go crazy just because elon having the idea to go against it and it's not like tesla itself an essential company for most of us anyway, but right now it seems the market is kinda stable.

Not Tesla, but Musk. If he was in China, his practice had already been banned, and his news would no longer be visible on the Internet.