Bitcoin Forum

Since Musk banned BTC from acquiring Tesla, it has plummeted. When will it rebound? :) :) :) :-* :-*

It will drop to $10K first. 

Looks as if it is time to start buying again.

You are late in regards to that news.Lets put up some link on when about that matter.
Tesla will no longer accept Bitcoin over climate concerns, says Musk (https://www.bbc.com/news/business-57096305#:~:text=Tesla%20will%20no%20longer%20accept%20Bitcoin%20over%20climate%20concerns%2C%20says%20Musk,-13%20May&text=Tesla%20has%20suspended%20vehicle%20purchases,while%20Tesla%20shares%20also%20dipped.)

Rebound? No one knows and this current plummet isnt really connected into any other sentiments or news out there. Appreciation? no one knows but basing or looking
on the potential alone then you could really tell.

Just put up some risk on buying bitcoin when its cheap and its up to someones choice.

That news is so far gone that it is not the reason for this price decline. I guess many people are trying to cash out, and as they say, if it's the dip, you buy the dip. Lol.

Anyway, it's the same as before when BTC reached an ATH, and then people started saying that it will never go back, but then a few years later, it reached another ATH. It's not a sure-fire way to return to that price, but at least you know it has been occurring continuously.

There's already some articles stated that Elon Musk said Tesla again accepted btc as payment, then why this statement came out regarding banning. Can you please send us latest link that this was really true? Maybe we're just making it exaggerating, and we don't know the real side of the story yet. There could be another reason which is more serious compared to Musk's statements, we shouldn't be too quick to judge now.

The price of bitcoin is not going to rebound.


No, and this has been clearly proven by math and science (https://www.fooledbyrandomness.com/BTC-QF.pdf).

We're mostly investors, traders, and speculators here, not fortunate tellers. If you fancy some fortune telling, probably listen to proudhon. /s

The news is a bit delayed. This has passed. The reason for the recent decline has nothing to do with Musk. If the decline is not a good opportunity to increase positions?

My opinion is that there is a good chance that Bitcoin can go down all the way up to $10,000. That would mean 85% drop from the ATH levels reached earlier this year. But back in 2015 and 2018, we had similar dips (exactly at 85%). The vast majority of the users remain bullish and they remain unprepared for extended phases of correction. In the near future, the exchange rates may resume the bull run and may even attain a new ATH. But before that, the prices may bottom out, at a certain level below $30,000 per coin.

Who knows. Glad the question is when though, instead of will, though in the end, no one can really answer since we aren't really fortune tellers. The news was way back then already, and we have yet to actually see BTC moving back up to where it was then, and it isn't exactly wrong or bad imo. It staying at the current price means it's trying to stabilize its position and would most likely reduce the chances of it actually going way below, and would only happen in the most extreme cases. Can safely assume it's trying to build up a foundation to stay in the long term.

My personal analysis is that the recent drop is caused by Grayscale, there is a lot of money that has been released and therefore it is easy to manipulate this time. As long as we don't test the 28k levels, we will rise sooner or later, but the question is when.


Attempting to link the price of Bitcoin to a specific individual or company is a mistake. Bitcoin is greater than that and these companies cannot influence except through buying/selling. As for such news, it affects investors with weak hands, which often leads them to lose their money.

There will be a meeting between him and Dorsey let's see if we'll have a pump if this meeting will bring positive news, then this is the right time to buy and if there is a piece of negative news on the meeting there's a possibility that Bitcoin will go down to $20k and that will start the bear trend, just when everyone is bullish that Bitcoin will reach 6 digits before the end of the year, these things happen.

The price started to recover again above $30k, not surprised if the price goes to $32k++ this week.

Perhaps the sudden dip below $30k was due to the GBTC news or just speculators shorting bitcoin again.

As far as Elon Musk goes, he has no longer the influencer that he has before. Because we are so tired of him playing the market. He could be one master manipulator, but in due time, people with common sense will realised what he is doing.

Since yesterday bitcoin has been raised in 6% as news informed. It's already a good thing for a very bearish scenario like this with tons of bitcoin being put for sale due to the Grayscale investment fund unlock. It means some investors aren't waiting bitcoin reach too low prices to buy because they know bitcoin doesn't necessarily need to lose a certain percentage of its price to start skyrocketing again. It can happen suddenly and at any time.

yeah , the cause of fall prices bitcoin these days is GBTC that offer 20 percent for bitcoin share , i hope bitcoin will recover soon , i think the support 29k or 30k is strong and who know prices already rise from 30k to up 60 before 3 month . the support 30k always can be the bottom because lot of invedtors bought bitcoin at this prices between 29k and even 33k for sure , everyone should avoid fear , and invest with good strategy  if price fall  for buying more bitcoin  or invest for long term

Hopefully, that can happen if both, Musk and Jack agree to give good news about bitcoin to lift bitcoin price to a higher price. But if there will be a downtrend again before the price increase, we must be ready and prepare to buy back bitcoin at a low price. Maybe this time can be a good time to buy bitcoin but we need to save some money to buy at a low price because there is a chance for bitcoin to make another correction soon.

I am sure that in September he will go forward as children to school

You can only see rebound when investors start to go in again. Check the exchanges for btc orders and anything you start seeing huge buy orders, you know it can start to turn price up because that means demand started coming. After musk announced the energy concern, price started to drop and has not recovered yet and that is part of the bear.

Today. It hits $32k.

Maybe this raise a little today is due to that? But I don't want to believe that it's again attached to Elon's name again. It's always been like that and we want to see the ties cut with Elon's name to the market.

If he goes back loving bitcoin again, let it happen on his will not with his manipulative and moving tweets.

Elon isn't exactly creating a rift for bitcoin and this space.  But it seems that he is also one of those who are also optimistic and pro-bitcoin, things should be viewed fairly and consistently.  I don't think Elon is playing with the world, he's not stupid.  The drop from 65k could be a cycle with many other problems, same reason.  And now, they just see him as a simple "Tesla doesn't accept bitcoin" decision, which really isn't.  I guess, I'm not defending him, but Elon market dynamics play an important role.  Certainly the outcome of the meeting that we know roughly.
I believe that Elon saying that he is looking at sustainability and being able to accept bitcoin again when the renewable energy results in is a huge motivator for us to go to 64k again.

some people do not believe in the sound of birds from Elon Musk on Twitter and some still believe in Elon Musk's tweets on Twitter.
then the graph that we see in an hour the graph rises and in an hour bitcoin falls again.
so there's no need to worry and ignore the problem that bitcoin could fall back below $30,000, because there are still many pro-bitcoins that last longer, maybe for them the future will look bright.

This is the only question that no one knows the answer.
We are just investors here not fortune tellers.

One thing more is that you are already late with the news. That has been posted weeks ago and the reason why Bitcoin fallen below $30,000 isn't because of Elon Musk. Its because of the US Stock Market.
President Biden might put USA in lockdown because of the surging cases and that caused the stock market to go down at least. Stock Market and crypto's movement are somewhat the same so when US Stock Market goes down then so does crypto market.

When will it rebound?? If somebody knows it then he/she must be rich by now :)

But for sure, his influence is going down, it has no such effect on the market unlike before wherein he was treated like a demi-god or something. Every tweet of his shakes the market upside down. But since then, people realised what a gizzard Elon Musk is, self-centered and only concerns how much he can make out of this market.

Obviously, there's a lot of wiggle room to make here, we haven't reach the last quarter of the year. I'm expecting a big move during that time, heck a possible 6 digit is still there.

Yes there's still room, it's not like it's the end of the world for bitcoin market when it goes under 30k, life goes on and it's the same for bitcoin market too. It's much better that it goes under 30k in my opinion because it makes for an opportunity for other people to get in the market for a really low price.

Sadly this guy has a lot of influence yet because investors act like sheep. Look the pump bitcoin performed since yesterday. Probably it was due to the interview Elon Musk gave saying Tesla will start accepting bitcoin again. He talkede about bitcoin positively again and demand for bitcoin increased instantly. It doesn't look good as it will make Musk feel even more powerful and influent in crypto universe, what can lead to more of his tricks and jokes to play with prices. That is insane how a decentralized world becomes hostage of an individual so easily without being necessary to enforce any regulation.

Ulon Musk's tweets can be manipulated and can be valid information, but in terms of the effect of the tweets submitted, it can have an effect or a price pump occurs. that's the proof they take the opportunity in the crevices of confusion to profit when even if not in the long term.
what's wrong if you can also take the opportunity, and don't be too depressed because of previous trauma.

There is always a room for appreciation for bitcoin. It undergoes brief phases of rises and falls but there is never a single time when it's all greens and reds. The financial giants of the world have already took notice of bitcoin, and I'm pretty sure that they are all just waiting for the price to go down a certain amount before they consider buying in, just like what other huge names back in March of last year did.

As for Elon Musk, every single day he loses credibility, power, and influence over crypto markets as the world discovers how manipulative and tricky his true intentions were for the market. There will come a time when his herd of sheep will no longer follow his every tweet, and market manipulation from such entities will no longer matter.

But there isn't, and it's been proven mathematically by me and Taleb (https://www.fooledbyrandomness.com/BTC-QF.pdf).


Bitcoin is a non-dividend yielding asset. Bitcoin does have at least a tiny constant probability of hitting an absorbing barrier (but in reality it has a very high probability of hitting an absorbing barrier; but I'm just being charitable for the sake of argument). Therefore, it's present value must be 0. The market simply hasn't digested this elegant proof yet, but more and more participants are realizing this scientific and mathematical fact, and as the proportion of the market that realizes these facts increases, the price of bitcoin will fall. This is 100% proven and scientifically mathematical by myself and one of the smartest geniuses in the world. There is no room for appreciation in the future.

The problem in taking the opportunity is that you are feeding the monster that is going to grow bigger even more until he will become so hungry that you will also be eaten by him like everyone else. Furthermore that is a dangerous opportunity because investors are relying in a man which the statements are totally unstable and unpredictable to make their financial decisions. Today bitcoin is good, but tomorrow it will be bad and after some days it becomes good again. These statements from Elon Musk don't follow any logic, but just his personal preferences on the present moment. Actually I'm not so sure if it's really an opportunity.

Btc started to fall down recently, the situation remains unpredictable as of the moment and I observed that the market seems to be green lately after those attempt shocked many traders. Bear market was showing its aggressiveness, but the resistance was strong enough to pull back btc upward. The rebound hasn't yet commence, and we're still waiting for another opportunity that it begin to exist within this year.

The sentiments are saying about the positive impact of the recently held B Word Conference. Even ether enjoyed a lil bit on this as he mentioned, he also owned ether aside from bitcoin and doge coin.

https://www.coindesk.com/elon-musk-says-spacex-holds-bitcoin-at-b-word-conference

Though only small jump but let's be grateful that we are seeing green again and we are more than 30k. Hoping to see more positive news in the coming days.

Having the same thoughts too and impression  when bitcoin did break that 30k support and do really believe that we are already on the bear market but as expected then bitcoin did really go on the other way
around but instead it did really make out some recovery.

Expect the unexpected as it should be because if you have some experience on this market then you couldnt really tell on where it would be heading next.

This do boggles out my mind too yet it had messed up entirely my technical analysis.

Whatever the reason for the small increase that occurred in Bitcoin right now, we should be grateful, even though there is no guarantee that the price
will go up even higher. At least this increase gives some fresh air to those of us who a few days earlier were worried about the decline in Bitcoin
prices below $30k. Indeed Bitcoin needs more positive news to be able to push the Bitcoin price to go higher, hopefully in the near future there will be
more positive news related to Bitcoin. I believe in the future of Bitcoin, so for now we really have to be patient and continue collecting Bitcoin.

Haven't you seen the dip last time? When it went down to $3k and yet we still hold and goes up till we reached the new ATH at 60k. Most probably, bearish market wont lasts. There are still whales that can pull up the price again up to 30k to 40k. TESLA can go on with their own life, it was just a vague that they change statements regarding bitcoin's support and adoption thus affecting crypto market.

Of course, that is prior to the halving and we have the corona pandemic scare, that's why the price seems to really falter to the lows of $3k, but when the halving happens, which is usually the precursor of a massive bull run the price goes to $64k. And then the the drops and more than - 50%. That is crypto for us, one day it's up and we think its going to be parabolic and then suddenly we went on a bearish trend. And then Tesla and Elon come into the picture changing the whole aspect of the game. But let me say that we this bull run is not yet over, we might see new all time high this year.

Another green day for bitcoin with now reaching 33,800$ and keeps going up. I hope it will continue to recover and go over 40k until the end of the month. I dont see it going under 30k at this stage.It has already dropped from 65k to 30k i think this is where the drop stops.Bitcoin got stable for 1 month on around 30k i think we can expect a pump now from bitcoin.

As you can see now, bitcoin price is rebound and hit $33,917, according to CoinGecko.
So if this can increase more, we will see the price will have a big chance to break $34k soon.
But I guess before the price will break $34k, the price will make another correction as the price seems to want to go down for a while.
And hopefully, if the correction is coming, it will not go down deeper because that will make the bitcoin price hard to increase.
We can prepare ourselves for the next increases ;D

Stability doesn't mean that you can expect a pump. It can just as easily mean that the price will fall further, because if in that period the price failed to recover, some traders will view it as lack support and decide to sell before it drops further.

IMO even $40k won't be enough to declare the return of bullish market, $40k could easily be a bulltrap. Only price ranges close to ATH could be considered as a true bullish signal.

Sorry such expectation may be a far imagination of the reality.  That area of bullish to ATH could be the time near the next halving or after the halving just as we saw the last halving taken bitcoin to $64k. Halving or Elon musk positive tweet are the few factors that can rise price to that level. This is a personal opinion or believe though.

Yes i think it is the correct time to say Market is almost stable it is around 38000$ presently but also now there are more chance to pump btc is now accepted in many country like El Salvador's doing a lot of promotion for btc for their citizens i think with time everyone is accepting btc which make the btc one of the best assest for the Future

I feel like the drop is not coming anytime soon, it will happen for sure but I think whatever you are thinking about crypto will happen but much slower than you expect. People keep thinking that bitcoin is volatile and they are mostly right, bitcoin is quite volatile when it wants to but these days I do not see those kinds of big moves at all, I keep seeing it slower and slower and I believe same will happen with this as well.

I think we are going to see bitcoin end up breaking 45k in 10 days or so and we are going to see $60k+under 35k again in a month. Why do I think everything will be that much slower again? Because I believe there is a lack of volume and when the volume is low that means there are not that many traders around and when traders are not around the movements are not as volatile as people imagine it will be.