Bitcoin Forum

The real reason behind the sudden drop in price?

Guess what? Yesterday Tesla announced that the company will no longer accept car purchases with Bitcoin (https://www.cnbc.com/2021/05/13/bitcoin-btc-price-falls-after-tesla-stops-car-purchases-with-crypto.html#:~:text=The%20Tesla%20CEO%20said%20the,transitions%20to%20more%20sustainable%20energy.%22).
Who's surprised?

But it's not this fact, that pisses me off. Businessmen buy Bitcoin, sell Bitcoin, fine, do whatever you want with it, but the most annoying thing about this is how he still wants to seem all warm and fuzzy.

Elon Musk explained (https://twitter.com/elonmusk/status/1392602041025843203) this decision on Twitter, stating that the company's concern is with the ecological aspect of Bitcoin mining and transactions:


Like hell you are! Didn't know about that fact when made a purchase worth $1.5B?


Source: https://www.independent.co.uk/climate-change/news/bitcoin-bad-environment-mining-cryptocurrency-b1846773.html

And this, in fact, is a total bs, because of all currencies cryptocurrencies are considered to be rather eco-friendly as compared to the fiat system. Why? Because paper money production and running banks...surprise-surprise - require huge energy consumption.



Source: https://www.ledger.com/energy-consumption-crypto-vs-fiat

Your thoughts on this? Are cryptocurrencies, and, in particular, Bitcoin, that harming to the environment when compared to cash? Or is this just an excuse for screwing people over?

I think that it was just a suspension so technically they are still going to back at it anytime soon. That's pretty influential to have the prices drop because of their suspension though but I think that this is just a temporary price drop since Tesla didn't sold their bitcoins.

Bitcoin does not depend on Tesla or Elon, we should know that. Only what will happen will be just temporary just as Lorence.xD commented. Bitcoin does not depend on anyone.

Elon Musk is moving in the same direction as that of Mark Zuckerberg. He seems to have realized that he can't manipulate Bitcoin, like the way he is currently doing with Dogecoin. The excuse that energy usage is too high for Bitcoin is to cover this fact. He either wants to rollout his own coin, or want some shitcoin such as Doge to replace Bitcoin. We have survived despite constant attacks from these people for 12 years. And this time also, the outcome will be the same. For Bitcoin, the loss of support from Elon may be a temporary setback. But in the long term, it will do no harm.

I think that our strategy and buys of bitcoin should be absolutely agnostics on regards to whatever Tesla or Elon does or say. the use case itself is very limited to buy a car and it does not offer value to 90% of bitcoin users. It is a community effort to ignore those who intend to use the ecosystem for thing that are completely outside the spirit and practice of the bitcoin and crypto community. It is legit to ear money with crypto, but not at the cost of manipulating the market. I am so surprised the SEC is not already acting on this guy that I am suspicious of their motives.

I believe what they say is different from what they have in mind.

This is a business interest, Elon Musk knows how big his influence is in the market, so he will take advantage on that.
We are a billion market, and he has proven he can make a lot of money by just shilling DOGE, so there must be a deeper reason on this announcement and something that will serve their personal interest.

Ok, I knew about Tesla announcing the news but didn't know why, kinda disappointed that I know now. Of all the reasons he needed to say, he just had to say about the non-existent issue of Bitcoin miners using up a lot of energy. It'd probably be better if they just said that they wanted to exit the market since they've had enough, I'll take that.

Still, the drop should only be temporary, we all know how Elon affects the market after all, but his hands mostly touch upon DOGE and not Bitcoin. Wait for a few days maybe, and it'd go back up.

Facts right here lmao

I don't feel like that crypto currencies are harming the environment more than any traditional FIAT currency. We need to consider so many factors when comparing FIAT to crypt currency. Printing money and minting coins requires a lot of resources and energy, the same goes for running a lot of different banking offices across the country. Delivering money to the ATMs also consumes a lot of fuel. So if we consider all these factors than traditional money requires much more energy than cryptos. I don't like that Elon Musks buys a lot of Bitcoins, hypes them on Twitter just to make a good profit and now gets out of the market.

Bitcoin depends on those who still believe in it and keep hold it.  The market crash this time only happened because some "weak hands" sold their Bitcoin on fears the price would continue to fall, fortunately there are many Bitcoin hodlers who don't care about news like this. ^{(only stupid people who sell their Bitcoin because news of Tesla is not accepting Bitcoin payments anymore "lol")}

I expected this to happen since I read a sort of appeal from some activists calling off Musk as an hypocrite for adopting bitcoin and linking it to global warming while he is pushing for a greenish energy world.
Nothing is hazardous or spontaneous with Musk, he ride well the wave and will most likely continue doing it. Next step is Doge before switching to a POS coin imo.

The whole energy thing is promoting FUD

If you're into mining, you want to have lowest costs, highest revenue which means you will gravitate towards cheap/zero renewables or energy that currently can't/isn't being used by anything else. ASICs will also get more energy efficient and over time we'll reach an equilibrium based on mining reward, bitcoin value and operational costs. If people can't present a balanced argument I can't take them seriously. Presenting bitcoin's energy usage without comparing to banking, metals production, other is disingenuous and just pushing a narrative.  When people get censored, have their money stolen or debased, they'll see Bitcoin in a different light.

Yeah, that makes absolutely no sense as a rationale behind Tesla no longer accepting bitcoin.  No sense whatsoever--and you're absolutely right, Musk ought to have known all of the facts behind how bitcoin is mined and so forth; he's by no means a stupid person.  The weird thing is the timing behind the buying and selling of bitcoin by Tesla.  It almost seems like they didn't think it through at all, unless they were just looking to make a short-term profit (and I hate to say it, but they could be guilty of manipulating the market in doing so).

I also agree that this bone-headed decision could be responsible for bitcoin's decline in the last few days.  Makes me wonder how the other corporations that purchased bitcoin feel about this, and perhaps what they might do.  Hopefully Tesla doesn't induce companies like MicroStrategy, Square, Marathon Digital, and others to sell.  Just imagine if that were to happen.  Bitcoin would probably be under $10k in no time.

I smell market manipulation and Elon Musk has pranked all of us.
People should stop paying attention to his (and his company) action, just like what we did with McAfee.

True, BTC price should be independent of Musk and the future manipulators. SEC has fined Musk once, and I wouldn't be surprised if his antics lately will cause another fine.

I'm really disappointed with what Elon Musk did but yeah, Bitcoin is still bitcoin, we should buy it because bitcoin has the potential not because of other 3rd parties who are promoting Bitcoin. Since Tesla is an environmentally conscious organization (as shown by their products), I believe it was the correct decision to discontinue the BTC payment method if they were aware of Bitcoin's energy consumption issues. It could tarnish their image as a massive corporation.

But still, not a good way of manipulating the market, so much hate.

Rationale..
We're talking about the guy who after getting finned by the SEC didn't spend too much trolling quietly indoors and came back to Twitter with this:

https://i.imgur.com/Nq68gTk.png

Now we're having the same reactions a tesla's share owners in that topic, "Dude, what the f* is wrong with you?"   ;D
But there is nothing wrong with Musk, it's not a bug it's a feature!!! He simply is this kind of person, and everyone seeing his first comments about crypto years ago when he was trolling with Doge should have been a little cautious on how this guy does things. He is not the usual WS investor, he is sometimes even more dislikeable than Warren, at least that guy is simply stating his beliefs, Musk likes to cover everything in a fog of half-truth half lies.

The moment Tesla published their filling showing they have bought Bitcoin I tough that at least temporarily he will stop with the non-sense as his usual attitude will get him in trouble with the SEC but nope, it didn't work. Right now with all this BTC drama, he will get away even without the slap on the wrist but it come a day when his trolling will lead him into serious troubles.

That would be his strategic plan, if Bitcoin market has not matured enough, and if institutional whales have not yet invested in bitcoin, the whole market (Bitcoin and altcoins) would have crashed, likely less than $10000 bitcoin price will be possible. But, this did not happen, the market has even slightly grown back above $50000.

I do not know the plan of Elon musk exactly, but it is definitely a manipulating plan, I am thinking he is just try to make sure bitcoin market should crash so that he will be able to use the meme thing to increase the market value of Doge, by also making Tesla to be accepting Doge as payment.

I am wondering someone who knows about Bitcoin mining to have just such decision, he is definitely after something.

I failed seeing what's the big deal with this news. see it's just one merchant stops accepting bitcoin and nothing more, their product also isn't that great of importance for most of us who relatively doesn't have that much of money to buy some luxury car and prefer to further invest our money anyway. people are truly overreacting over this news and if doge is what turns out to be what elon prefer as the more greener crypto that means he's just trying to shill his shitcoin again and probably to make profit out of it.

come on people, i thought bitcoin is bigger than just a merchant acceptance as payment method.

Elon Musk and his fairy tales. Everyone on the planets even the very less educated and privilege would know that bitcoin mining would consume electricity. Moreover, it has even been debated many times that due to major bitcoin mining taking place in Developed nations where more renewable sources of energy are used bitcoin doesn't really use that much energy. But one day CEO of TESLA waking up and realizing that oh no we need to stop accepting payments in bitcoin is not a story I am going to buy. It was a pure intentional price manipulation done by him. Even though the market looked bearish before the news. This news gave it the necessary fuel to go down. I believe he was just trying out whether he has the power to influence bitcoin price too or his powers are just limited to DOGE. Now he has realized he can move BTC too. He will surely do many more price manipulations.

It wasnt really surprising. I've always thought that Elon / Tesla's love story with crypto is pretty much a one night stand instead of an everlasting love life. Tesla is even making alot more revenue from selling just 10% of their bitcoin holding compared with selling their cars for 1 year

Also regarding his concerns about energy issue, I quoted this from https://www.bbc.com/news/technology-56844813


Pretty amusing huh. He agreed with this statement and yet now he claimed otherwise while in fact probably an average of half large bitcoin mining operation uses renewable energy nowadays


I think he can get away with it. This guy has no chill and treat almost everything as a joke

I thought that they would stop dealing with it at some point, but I did not expect this to happen so quickly. Less than two months have been required for a company to make a decision and to withdraw from it is considered an unconventional matter.
Let's see what other cryptocurrencies they will support but at least not selling them is considered positive.

Ohh, now I see why the sudden dump happens today and one of the major reasons for this was because of Tesla's announcement. See that Tesla will be no longer accept bitcoin as purchasing Tesla cars, just because of one announcement the market effect very hard in which we can clearly see the effect of it within the 24 hours in which the market including the bitcoin suddenly dump. This Elon and his company Tesla are really playing with the market right now.

Man. How do you think he got all this wealth?  OK yes he is was born rich. His dad have Gold and diamond mines, but he was not born top100 richest person. He gained his wealth by manipulation. All rich people will do that. It is totally same with Sailor. Or, like someone mention MacAfee before. Or ... just put names.  They FUD when they accumulate and shill when they are done buying and start dumping. Be very very when they shill and buy when they FUD.

Correct, this reminds me of the early days in which anything that China did or said as enough to make the market tumble and I think the same is happening with Elon, people worship him as if he is some kind of god and they take his word for granted, it is obvious this is is bad excuse to stop accepting payments for bitcoin, most likely the reason is that no one is buying his cars with bitcoin, as who is going to change an asset that appreciates over time over an asset that depreciates over time?

It looks strange from the outside. Buy for a huge amount, raise the rate, make an application for accepting bitcoin as a means of payment for your products. And then, essentially shoot yourself in the foot ?! The logic of the action is not very clear, if not to say - it is not at all clear ...

Long term speaking I don't f******* care about what Elon says, nonetheless I'm very much pissed off by the the words of a guy who is clearly allowing a huge market manipulation which will go without consequences. The guys should shut up and avoid saying one thing today and another the day after.
I repeat, no concerns long term, for what it's worth he can sell everything the market will buy given the supply shortage.

Alot of people especially those that are new to crypto space, bought their first crypto because Tesla started to accept bitcoin and even invested in it by buying from the market. This is a huge deal for some people because they want to be part of Elon's crazy idea and make some fortune from it

He is the crazy guy behind Tesla and SpaceX so most people would want to be an early part of what he does therefore when the news broke out about Tesla no longer accepting bitcoin , those people started selling as well. Most of those people are used to stocks and golds therefore this news affected the whole market because most of them would think that bitcoin no longer has any value

---

I still think the reasoning to stop accepting it because of energy issue is pretty lame though. So whats next? He would probably announce that Tesla sold all/some of the bitcoins to 'prove' the liquidity again ?

Tesla cant make that much profit in this pandemic situation, the only way to generate some cold hard cash would be to sell more bitcoins

Well if you feel hurt by a mere 14% decrease in BTC by presumably Elon then tell the SEC... Really swings downward on certain days can be more severe than this more 20-30% so in crypto be prepared to lose your shirt or hodl. I think what really drove it down was this Darkside selling their proceeds from Colonial:

https://www.washingtonexaminer.com/news/colonial-pipeline-paid-hackers-$5-million-ransom-after-attack (https://www.washingtonexaminer.com/news/colonial-pipeline-paid-hackers-$5-million-ransom-after-attack)

Elon farts and the world likes to smell.
He has an agenda and it is now very clear to me: now everyone is expecting his next green coin that he will be pumping.
I cannot stand him anymore, I do not like him and I think he is an arrogant prick.

They've even stated that they can start using Bitcoin again in future when it is fueled by more environmentally friendly sources of energy. However it doesn't really work like that and it will be years, maybe even decades, before it becomes uneconomical to use fossil fuels over the renewable energy alternative. Even at that point there will be some countries who don't have the access to cheap renewables who will still use any available power if it can produce money for the country. Elon has a point, but he should have know about how wasteful bitcoin is a long time ago and he has been so manipulative when it comes to cryptocurrency that nobody should trust him now. I am sure he cut the cord for now because his market manipulation could be seen to affect the Tesla share price, crypto is outside SEC control but stocks are not - the line became very close.

The pure market manipulator. And he thought people can't blame him if he says he is still holding bitcoin he just stop taking bitcoin for selling his companies car for some environment but he didn't sold his bitcoin. He thoght if he give this statement then people can't blame him. But how is it possible if you are trying to distroy lots of peoples life then how they can spare you. It is not possible because lots of people still in shock what you are doing in market in this covid pandemic situation where this bitcoin give them a hope and you distroy it. I already unfollowed elon Mask kn twitter. He was my inspiration but now he is a manipulator for me.

Anger has also become in vain when perhaps he is excited, even sleeping well after expressing a bad attitude to the bitcoin community, I also don't want to care but such topics will be propagated more in the following days, a lot of condemnation will appear, sometimes some pressure on Tesla's stock when many users here are supporting them. In the long run, this effect and information will end as you say and bitcoin will return to its brand but it's quite regrettable that our steps and calculations stalled and took longer due to Tesla

I really do not see why people are selling because Tesla is not accepting bitcoin for buying cars. I mean for around 12 years bitcoin existed, first year was a bit more theory I will give you that but it has been around easily for 11 years, and only for like a small period, maybe less than 6 months of it we had a chance to buy tesla with bitcoin.

So that means bitcoins real purpose is not to help people buy cars, it was just bitcoin, it is a currency, doesn't matter if people accept bitcoin or not for big things like tesla, it is irrelevant, they will be forced to accept it one day anyway. But somehow we are still getting discouraged about these kinds of tweets (and hyped about good ones) and that doesn't make sense. Let it be, he pumped it with tesla buying bitcoin tweet, he dumped it with tesla not accepting it tweet, it was already people who only invest according to elon and we do not need those people.

I didn't expect Elon Musk to sell out.

The same people who tried to kill tesla stock with short selling. The same people who relentlessly attack tesla and publishing thousands of fake news stories in the media. Are the same people that push "bitcoin is harmful to the environment" agendas. Elon Musk joined the side that tried to destroy & ruin his business for years. That I did not expect.

Elon Musk seems to have sold out around the time he began calling himself "technoking" and made an appearance on SNL.

I hope people recognize the political agendas and coordinated effort made to -control everything- behind Elon Musk's wild stance swing on bitcoin.

The reason why they decided to drop Tesla car purchases on bitcoin is quite noble and true to what Elon Musk believes in. However at the same time I feel like it's not going to help prevent the burning of fossil fuels for electricity anyway, so it's counter intuitive. I hope he has something in store that will help people trust Elon's words once again because I feel like he's a good guy in his core.

Let's not be so naive, and let's keep in mind the fact that Elon Musk is primarily a businessman who has already attracted the close attention of the state regulator with his actions and words, and Tesla's shares also collapsed in price. Therefore, you should not think that there are only environmental motives behind stopping bitcoin payments for cars, but something much more prosaic. For example, there are concerns that the exchange rate price of bitcoin as well as Tesla shares is overheated and therefore it is necessary to untie them from each other a little. And that Musk doesn't want Tesla to suffer much later because of the bitcoin correction.

LOL.. so he didn't knew about the electricity consumption by Bitcoin mining pools when he first accepted Bitcoin? He has no issues in accepting fiat payments for his cars. He is selectively targeting Bitcoin, because he want to promote some shitcoin like Doge in it's place. I had a lot of respect for Elon Musk, but not anymore. His main intention is to destroy Bitcoin, by giving the flimsiest of the excuses. But he will soon find out that he will not be able to do so. Bitcoin has emerged like a phoenix from temporary setbacks in the past as well.

I do agree, I find the purpose noble but in the grand scale of things, it is just a miniscule thing, what everyone needs to focus on is that we continuously slow down on using fossil fuels and oil for energy and switch to renewable and nuclear energy. No person in this forum is going to believe Elon is a good person because right now, emotions are running high and they can't think rationally, as if suspending the bitcoin payment is the end for bitcoin market.

I see, now he wants to make Jokecoin such wow, energy friendly!
Twitter should ban him for a week, as he is getting too much addicted to it and with these idiotic tweets he is creating multi-billion dollar problems on the market which he is undeniably manipulating!
Twitter, ban him, let him crave for one week only.
Please.

Why would Twitter ban him though? Because you are a special person that they need to pay heed with your request? To be fair with everyone, Elon didn't break any terms and conditions in the platform so what is the viable reason that he is going to be banned? Maybe he does wants to support DOGE coin, so what? We are free to do what we want.

Musk has a lot of followers who wants to earn money. He made a big jump in price of doge coin and people have FOMO. And after news that Tesla wouldn't support bitcoin, they started to sell their coins.
    Also someone wanted to buy Tesla for 1 BTC. He or she bought BTC at $50000 and than they wanted to buy the car when the price will be more then 75,000 - $85 000.
    I think that bitcoin is like Apple shares now. Before new iPhone version the price rises, and after bad news it falls. This is normal market behavior.

Bitcoin is not harming the environment at all, what an audacity they have to say such thing like that when they know that the biggest pollutants here on earth are us, humans. Before Bitcoin mining, there are literal mining that has been and still going on which literally damage the earth just to dig up minerals and precious stones, so I don't know why they are so bitter in Bitcoin mining.

I think Tesla is just manipulating the market, and for sure they bought a lot of Bitcoin on the dip and they will announce again that they changed their mind and will still accept Bitcoin as a payment on their cars, what a strategy.

Tesla has clear intention to manipulate the market but unfortunately Musk failed his announcement of eliminating bitcoins on their payment option didn't succeed, Many big whales didn't support his announcement thats why we see bitcoin slowly recovering up. Maybe its time not to listen with elon since its so clear that he only care about his profits and not the adoption of bitcoins also its technology.

- I feel that Elon Musk has no failure here as his company seems to have liquidated most of the bitcoin at a relatively nice price, the price of bitcoin going into the state as it is right now is also his contribution, maybe many people say not in favor of Elon Musk but inside, they're probably having fun with this accumulative opportunity. Getting rid of bitcoin is probably a long calculated plan, only naive people like us believe in Tesla's backing while bitcoin is illegal

The main reason as said by Elon musk himself is to preserve the environment as Bitcoin mining is causing adeverse effect to the environment and can contribute to climate changes.The good news it that they are not selling their bitcoin which was bought some months back had it they did then the dump will be much more worse than this.

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news :D Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

I mean I get that people got scared but I do not get why? I mean tesla wasn't the bitcoin creator, they aren't even around that much, it was funny all around. Thankfully I ended up with just enough to buy during this period, I didn't had any money at all, but I was part of a project and they paid me a tiny bit recently (just 100$) and I was keeping it in dollars because I will have to spend it, I do not have much money unfortunately these days, but I took a risk and since that was money I didn't expected, I just put it in BNB at 560 dollars, and now it is over 600 dollars, I made a good return! Very happy about it.

The majority of large bitcoin mining operations are using renewable energy otherwise it would be suficient to support those rigs so his excuse about this energy issue is showing that he does not research it at all before he / Tesla made that decision


He can say whatever he wants but sooner or later Tesla will sell their bitcoins. Tesla is not here is to stay in the crypto space and crypto is nothing more then cash generator for the company


Same thing on why people are FOMO because Elon tweeted Doge. Elon has nothing to do with Doge tbh

That wasn't my point, I didn't say Musk controls Bitcoin or that it depends on anyone, I know it utilizes a PoW consensus algorithm. However, this doesn't contradict with the fact, that the price of Bitcoin can decrease as a result of the increased volume of bitcoin sold and due to negative press, this is just how any market functions, there's no denying it.
Of course, this is only temporary and the price will stabilize within, my guess, around 2 weeks (if nothing unexpected happens again), but what we are seeing now are the consequences of his actions.

That's what I don't get, why run away over a news that isn't even a big deal in the first place, they didn't sell their bitcoin, they just suspended the purchasing of their cars using bitcoin but they are still afraid that one thing would lead to another thing but that wasn't the case, now they have to buy back at a loss since they sold at low profit.

Well, because they do not know what they are doing and they have absolutely no opinion of their own so they act according to what someone else tells them. There are thousands of people who buy signals or copy trade or just follows people on twitter, maybe even over a million people all around the world who does the same thing, they just follow others that share tips on what to buy and where to buy and where to sell and others follow them and make the same trades.

I have seen too many "crypto influencers" who are sharing trading information and when people make money they are great and when people lose money they are terrible people. Long story short Elon was at the top of that list, he is the most known person to do this and whenever he says something good the price goes up and whenever he says something bad it goes down because there are idiots out there who can't make their own decisions and trade based on what Elon tweets.

I see no reason why Elon musk will stop accepting bitcoin, from the very first day I saw his tweet on Twitter I know Elon musk joining cryptocurrency is not a really good idea he knows his influence is very massive and he believes when he stop accepting bitcoin it will definitely dump the price of bitcoin which that is what united state of America president really want I believe there are just trying to use Elon musk to bring down or to dump bitcoin price which is currently happening already nobody knows what he will definitely say next and nobody knows what the United state will say next which might even dump bitcoin price more

This is just pure market manipulation. Tesla sold a large part of their Bitcoin stash, before Elon made these manipulative tweets. I don't know whether they are going to purchase more BTC from the market at low levels, but there is a strong chance of that happening. And the best thing for Tesla is that they don't have to pay much tax on these profits, as their overall business is still in loss. BTW, it is now unethical for Tesla to continue to hold on to BTC, since Elon himself has come against it. 

Is it the only reason why Bitcoin is going down right now?

Nope. The main concern now is the ongoing investigation in the United States against Binance. Both the Internal Revenue Service (IRS) and Justice Department are reported to be collecting information specific to Binance in preparation for a lawsuit. This was sort of expected, after Janet Yellen had her meltdown a few weeks ago. Even last year, I had warned everyone here that Democrats are much more of a threat when compared to the Republicans as far as cryptocurrency is concerned. And my prediction is being proven right. 

Elon Musk is a business guy and he will use every means necessary to make profits and I don't believe that they will make a move like this which they know will negatively affect the price of Bitcoin and don't sell before that stunt was pulled even if they never said they did. What is most important to me is that regardless of what happened to the price, we will definitely see a re-bounce of the price.

For someone that is supposedly a genius I never thought I will see so many dumb moves, I really think he is trying to manipulate the market and this is a problem as I have no doubt that if this continues and he keeps being that obvious then eventually he is going to face a few lawsuits, I say this because posting a few memes is fine and should not be considered an attempt to manipulate the market but announcing that your company is accepting bitcoin and then one month later it does not seems like an attempt of manipulation to me.

They already know it from the very start, their reason for not accepting bitcoin anymore is just unreasonable, so you are right, this is just a pure manipulation as they have already profited on bitcoin and their altcoins investment and they know it's due for the dump.

Maybe by the next bull run they are already preparing for something big to influence the market again, but hopefully, we will not anymore fall on that kind of hype, let the market grow in its natural way as that would result in a stronger foundation.

There are many speculations out there why Tesla stops accepting BTC.

1. People are not buying or Booking for cars and willing to pay with BTC, it is stupid to pay BTC when you are sure the price will go up in future.

2. Is that Tesla is looking for Government fund and with all these noise around environment and Climate change and what Tesla and Bitcoin stands for, the company need to take a stand

Seriously I don't know you people like to worry about things like this. First thing you have to understand is that this community has been around for years without Tesla accepting Bitcoin as a payment method. And moreover the price drop isn't because Tesla is not accepting Bitcoin, whether they are accepting it or not, the price was still going to drop, so you're just making an assumption which you're not sure.

If I can remember, it hasn't been long that Tesla started accepting Bitcoin as a payment on their platform. It's just like Amazon, a lot of people wishes for them to be accepting Bitcoin, imagine if they do that and eventually price goes up days, weeks, months, or even years later, some people are going to say that it is because of them that the price went up. With or without all these big companies and institutions, prices will still grow.

Yeah those type of people can't make decisions on their on reason why they are prone to losing money, btc has already proven itself to be strong and contending asset in the face of all difficulties, Elon and Tesla are not the big names that invest in btc, if he decides to dump like scared boy he is welcome to do so, his fud will gradually fade away and things will return back to normal.

I think right now they are only looking to profit from bitcoin to run their original business. we know they made the news about bitcoin, and now they are going away from bitcoin. in essence they are already making huge profits from bitcoin

I hope that Tesla will not sell bitcoin in the near future, because since Elon Musk issued a statement not accepting payments using bitcoin, the cryptocurrency market is currently experiencing a significant decline, if the Telsa company is going to sell bitcoin you can imagine for yourself how the next crypto market will be.

i can imagine its the same result. the news says tesla did not solve any of their btc holdings. although this isn't something we can confirm.
when tesla announces he isn't accepting  BTC anymore for purchasing tesla cars, is anyone really who owns a bit of bitcoin wanting to buy tesla car? we in crypto only want lambo as far as i know. we don't says tesla when prices moons.

I doubt that because I am sure Tesla will want to make a big profit from bitcoin. Even if the bitcoin price now is at $44k, Tesla will wait for a while and maybe they will buy more bitcoin at this price. But we do not know what price they bought bitcoin because they do not tell us about that. Bitcoin will still survive in this bloody market, even if Tesla stops car purchases with bitcoin because many companies will start to integrate their payment with bitcoin. I am not worried about the red market now because I believe bitcoin will increase again, no matter if that needs more than a month to rise.

Is tesla has stopped sales of cars by means of bitcoins then how does it matter to anyone? You can sell your bitcoin and just buy the car with real money. He is shilling so hard for dogecoins that he forgot everything else and I don't know why he is doing all this but he is looking like a villain right now after the prices have dropped as low as 39k as I last checked.

Volume of btc market in 24 hours is 71 billion dollars, even if tesla try to dump all their posession the market will be shakened yes but it's only temporary, actually if telsa want to dump their btc right now it's gonna be fine for our market, better to let the market experience dump for temporarily than letting them influence the pyschology of the people in the market through their fud. once they sold all their btc posession no one gonna care about tesla, the market better of without such group that manipulates the market through fear.

I don't understand why this caused a dump and their reason for it is not even making sense. They should already know at first how bitcoin are mined and how it affects the environment, they just probably want to buy more at cheaper price so they just spread negativity about it. More people just lose trust on him on how he can manipulate the market the way he wants. And who would buy a tesla using bitcoin where it is a good long-term investment. If I can afford to buy it, I would just pay in cash.

This month, the news about Tesla and Elon Musk is endless, because one tweet they are all nervous. ''
Even though we are not rich people who can buy luxury cars from Tesla ''
So why are we having a hard time, we are just bitcoin collectors for change ...
whatever twet elon musk in twiter, and tesla say ,, let him say what he likes ..

The second option is a very popular one because as we know Tesla depends on the government funds that it receives so this is one part of the truth, however to me this is plain manipulation of the market, and we know this is right, just take a look at the price today and how much it has gone down, the whales are laughing all the way to the bank knowing how easily people can panic and how fast the price of bitcoin can go down and will buy most of those coins at an incredible discount.

According to the latest information. Tesla has stopped buying cars with bitcoin. Billionaire Elon Musk announced on Twitter that Tesla officially "suspended buying cars with Bitcoin" because of concerns that Bitcoin mining is adversely affecting the environment. This has had a huge impact on the bitcoin market.

With the announcement of Tesla to stop buying cars with bitcoin, it has strongly affected the global bitcoin market. Bitcoin price immediately fell 5% a few minutes after the announcement of the Tesla CEO. Up to now,  Bitcoin  continues to drop by 12%, trading around $50,000, dragging other coins like Ethereum, Dogecoin "plunging" along and making the whole cryptocurrency market red.

That's their way to manipulate the price.. you can ask yourself, they are a big company, a successful one and you think they didn't know that in the first place? They are trying to make people look stupid here, so they can make easy money.

Their reason on why they started removing bitcoin as a mode of payment on buying cars is obviously just for the sake of covering up the truth on what they are doing right now. They are trying to manipulate the market and trick people into moving in another altcoin which is Dogecoin which was oftenly advertised by Elon Musk himself and considering himself as the father of Dogecoin. Right now, bitcoin is experience a massive dump and a huge dip and many are already getting into the state of panic but I think they should just keep on holding because at the end of the day, bitcoin will still keep on winning surely.

- Well, if Tesla has a need in selling all their bitcoin, the next scenario we can imagine is a not so good day series for bitcoin, the bullish waves coming back will be very weak and most of the time we will step into the bearish waves and be quite nervous. However, if they decide on this selling strategy, many people will also be brave enough to buy back what Tesla sells at low prices, bitcoin has never been short of buyers, Tesla's disrespect will lead them to miss out on this game and lose their credibility

People who have been in the crypto market for a long time understand that such statements are nothing more than manipulation. In other words, this kind of news and action is created to lower the price of an asset and buy it at a lower price, and against to raise the price of an asset and sell it at a higher price. As for buying Tesla cars for BTC, to be honest, I personally do not know of a single case of someone making such purchases. Moreover, as far as the price of BTC is concerned, I believe that its price is controlled and when needed it will grow even more than it was before.

Then, got to be puzzled and ask what is really the intention of Elon Musk in the crypto community? If that He and Tesla refuse to accept Bitcoin, the more they never accept altcoins.

A lot of flooded tweets and news talking about this and Elon Musk's manipulation of the crypto market. People are blaming him but I think this dump is not all about Elon Musk and Tesla, may we could say that dumps just had comes and it triggers more by Elon Musk's tweets.

The extra dump wasn't because of this, but there is always a "reason" for getting out, if people are going to start getting out and stop with the crypto hype the reason is not important, as long as they can find one people claim that's the real reason whereas the real reason is always the same; people not making as much money anymore and they want to get out with either their profit or at least what they have.

I am still in profit, I will be in profit as long as it is over 10k+ and I am not going to get out until the price drops under 20k, but even I would get out if I see like 17k when I wake up one day, that is the real reason, people who sell because it goes down and just wants to focus on something else, I personally do not see a reason to keep gambling with the money I already have if I fear that the price may fall down even more in the near future, it is not because of Elon or someone else, it is because of the price itself, the more it goes down the more people will sell and the more people sell the more it will go down.

We probably don't know what Ellon really wants to do at this point. but he is a clever person who can see opportunities and can hypnotize many people in the crypto world, whatever his words seem to be a direction for crypto enthusiasts, we will understand after something happens, and it seems he is not an easy person to read

IMO, Elon's influence is on the wane. The next time he attempts some manipulation like this, the results won't be in his favor. This time it worked, because cryptocurrency users were not expecting him to suddenly come against BTC and promote DOGE. Now coming to his real intention, it is difficult to say exactly what he want. Some are arguing that he want to dish out his own cryptocurrency. Others are saying that he want to pump Dogecoin and in the long term want that shitcoin to topple Bitcoin from the position as no.1 cryptocurrency. 

What many people do not seem to realize is that despite all the good publicity that Elon receives his companies are not profitable and receive a lot of money from the government, to me this seems an obvious money grab, also it seems Elon is going to try to take over this market and maybe use dogecoin as the coin to try to make this a reality, but I think this is where he is going to fail and his aura of a genius will dissipate and it is likely his companies even begin to fail because of it.

The fact is that Elon has hurt a lot of the mentality of traders and also young investors out there, see where he is able to easily turn things around like this. Well, if he can give you the greens, then he can pick them up anytime. but I believe what you say, that in the future, if Elon does something, it won't be the same again

The truth is we don't know how many cars were bought with Bitcoin. Probably not many people use their Bitcoin to buy Tesla electric cars.
There are dozens of other businesses that accept Bitcoin before Tesla so we shouldn't worry too much about Tesla's acceptance or not.
Tesla's intentions behind their behavior are still unclear but it is clear that the whales took advantage of the opportunity to combine multiple FUDs to buy Bitcoin at a cheaper price.