Elon Musk isn't the only reason for this dip, Bitcoin was acting weak ever since it fell from the ATH and experienced a lot of resistance at $59,000. It would have likely crashed without Tesla's decision, maybe not so dramatically, but still.

This bull run is already not like the last one, the price has been stuck in this $50,000 range for 3 months now, while in 2017 the price was doubling every few months.

What kind of rational investor would put their money into Doge, Shiba and all the other meme garbage coins and tokens a few months ago? It's just pure luck, no one could foresee that Elon Musk will decide to manipulate the crypto market with his tweets.

And when people with no trading experience are reading such articles, they are going to set themselves up for losing a couple of hundreds of dollars on some scamcoin or by buying the top of a bubble.

If you want to put your money in ETH, put 5% or maximum 10%, because it's already a very high risk investment compared to BTC, as it increased by 4 times already since it's lowest price of 0.02 BTC. ETH is doing well now because of DeFi and NFT and the recent environmental FUD (it's going to go PoS in the future), but those things will eventually go out of the picture, just like ICO and DAO and other fads.

I'm more and more inclined to think that Elon just trolls the crypto market and enjoys seeing how the markets react to his tweets. His latest tweets are really irrational, especially coming from a supposed tech genius. Bitcoin energy consumption FUD, then "working on improving Doge's efficiency" - both complete nonsense, yet it caused huge movements on the markets. Eventually everyone will tire of it and stop paying attention, but it could take months before it happens.

Bitcoin consumes something like 0.1% of global electricity, electricity is responsible for 30% of carbon emissions, so Bitcoin is responsible for 0.03% of carbon emissions from this rough estimation. IMO 0.03% isn't that high, especially when industries like meat and trasportation are responsible for so much more.

If you disconnected all miners today, Bitcoin would halt, because the difficulty would be so high, that it would take months or years to mine even one block with CPU's and GPU's. A hard fork to reset difficulty would be required, and it would be a very messy process.

Miners are not useless and they are not wasting resources, the amount of Proof of Work determines how expensive it is to attack Bitcoin. If it was easy to do so, banks or governments would have killed Bitcoin a long time ago.

If we're in bear market now, the bottom would be at around $20k. It wouldn't make any sense to return to $10k or lower, that would mean that all the recent adoptions were for nothing. If the bull market will resume, obviously the bottom will be higher. Generally Bitcoin goes through 80% correction from the top of the bull market to its bottom, but if this time the top won't be sky high compared to the start, then maybe this correction will also not be so dramatic, maybe 50-60%.

It's a self-fulfilling prophesy kind of situation. When traders see a tweet from Elon concerning Bitcoin, they expect everyone else to react to it, so they try to be the first to react, and inevitably start the chain. And once momentum builds, it keeps going, because short-term speculators activate, leveraged positions get liquidated, etc.

On a more fundamental level, this was pretty bad, because the enviromental FUD gets more and more attention, so potential institutional investors might decide against getting into BTC if it would get them bad rep.

That rule is enough, if no more than 21 million bitcoins can be created, then the maximum supply is 21 million. Bitcoin is not like gold that can be found on asteroids or other planets, mining is the only possible source of new coins. It would be redundant to keep track of existing supply with every new block, Satoshi did not implement it, because it would be a waste of space and processing power.

Making a decision then reverting it a few months later while absolutely nothing has changed should mean something about his decision-making skills. He could easily say that he's starting a Mars mission to pump his stock, then say "nevermind, change of plans".

Did Elon not know about Bitcoin mining energy consumption when he decided to get involved with it? If so, then he's prone to making quick and poorly-researched decisions.

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I find it frustrating that Elon can so quickly jump from supporting Bitcoin to bashing it with poorly researched facts. That man must have some mood swings or something, and I wish he just stopped talking about crypto so the market could return to normal.

If you look at the 2017 data, alts don't actually rise and fall together. In relation to Bitcoin, ETH has dropped long before BTC hit its peak, while XRP peaked together with BTC. Something like that can happen now - Doge and all Doge-related shitcoins will fall together, while ETH, for example, will keep climbing, and when ETH crashes, some other crypto trend might still be growing.

But I believe that the Doge bubble has already popped, no big names are jumping on this train, and Elon Musk can only do so much thing. The price crashed during his SNL, the announcement of him accepting Doge for satellite launches didn't do anything. There's nothing left to hold Doge's inflated price.

I saw some people expressing hopes that CBDC's would replace banks, because they will offer faster and cheaper transactions, but if it would happen, that's absolutely not a good thing, it would be just more concentration of power by the state, and most countries would be one bad election away from having a dictatorship established, because the state will have full technological and legal capability tot deeply control daily aspects of out lives.

In other days, Bitcoin transactions are more expensive, so it's not a permanent achievement. However, Bitcoin doesn't have tokens and smart contracts, so you can be sure that Bitcoin's fees are a function of bitcoin transfer demand, instead of some random smart contract suddenly appearing and clogging all network, because speculators want to speculate. This is why it's a bad idea to try to have a currency that is in the same time a "world computer".

How would supporting crypto boost his companies? When he announced that Tesla bought Bitcoin, his shares fell 5%, because investors didn't like such risky move. And it's not like paying with Bitcoin or Dogecoin for his products is going to get him more sales, people who would use crypto would otherwise use fiat if they couldn't, so crypto is not netting him new customers.

Elon is into crypto mostly for the memes and because he realizes how bad the inflation is becoming.

I'm sure this is just a small joke. Maybe he subtly pokes fun at Elon who can't stop making his lame jokes and memes about Dogecoin. This is definitely not a sign that Facebook is about to buy BTC, don't get your hopes high.

The fact that people care so much about celebrities mentioning Bitcoin just shows how immature this market still is. Imagine if he named his goat "Gold" - would gold investors care about it?

Yeah, in retrospect it was crazy to even imagine Bitcoin getting to $60k, but if you look at marketcaps, it really wasn't that crazy. If a company can be worth 1 trillion, then why not a store of value asset? However, around gold's marketcap (11 trillion) is a limit for Bitcoin's value, until we would see a really widespread use as a currency.

If US dollar will get hit with hyperinflation, then sure. Otherwise, how can you imagine 21 trillion marketcap? That's way more than gold, and gold has been a store of value for thousands of years, and Bitcoin has only a fraction of gold's adoption as a store of value, and negligibly small adoption as a payment method.

Lots and lots of people get blinded by greed. They start actually believing that Doge has some use-cases and potential that could justify this insane price. Come on, doge went up by 20000%, did its adoption increase by the same factor in the last few months? You don't need to be a financial analyst to understand that an asset which price depends on troll tweets of one person isn't going to have a bright future, but too many people developed bagholder mentality aka emotional attachment to their investment.

How can ETH or XRP be securities, if they don't grant any sort of ownership over anything, like shares do, and don't represent any debt? Is the argument that they are securities based on the fact that they were used to gather capital by centralized entities? If so, then every single ICO is a security, but we've seen from the past that SEC only went after a small number of ICOs and not all of them.