The problem is that it could take again many years to recover

[BitcoinPanther]

That is the thing, they do not care about the real purpose of bitcoin they only care about one thing and that is to make money and as long as that is the case those people are never going to become holders as for them there is not really any need to do so, they think of bitcoin as nothing more but a way to make some easy money and the moment that is not the case then they leave the market, I do not blame them however very few people can make money doing something like this which is why we see so many stories of people losing everything they invested in just a few months.

Isn't Bitcoin created for transactions since it was made to function as a currency?  So why are you so concern about people not holding Bitcoin since Bitcoin purpose is not holding it but rather transact with it.  And, isn't holding Bitcoin's aim is to make money through price increase, holding Bitcoin doesn't sounds any different than having a goal to make money?

[raji1995naya]

Yes, it will take four years, but if bitcoin reaches $10,000, it appears that it will be simple to set a new all-time high. With the help of many projects and companies, bitcoin may become the dominant currency in the global economy. However, if bitcoin just had investors, it would be hard to set a new all-time high for the price of bitcoin, and if a firm wanted to publish with investment and accepting bitcoin, everyone would believe in and keep bitcoin.

[judas]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

[dunfida]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

And that changes had already happened.

https://www.theguardian.com/technology/2021/may/12/elon-musk-tesla-bitcoin
https://edition.cnn.com/2021/05/12/tech/elon-musk-tesla-bitcoin/index.html

Expect for other such changes on other companies as well.

[harapan]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

That is not the case because right now, the overall market picture is still very bullish. This correction is essential for a good market growth. There's no way the market would just keep pulling down resistance upon resistance and not get a chance to correct and this id one of such chances. There have been a couple of these chances since bull market started and there would be more too as the trend continues upward. The who tesla thing was just a baseless fud from elon musk himself.

[geegaw]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

That is not the case because right now, the overall market picture is still very bullish. This correction is essential for a good market growth. There's no way the market would just keep pulling down resistance upon resistance and not get a chance to correct and this id one of such chances. There have been a couple of these chances since bull market started and there would be more too as the trend continues upward. The who tesla thing was just a baseless fud from elon musk himself.

Looking at the adjustment of this time and comparing with the most recent adjustments, you will no longer feel that this picture is as colorful as usual, it is becoming a sad gray color, previous corrections did not have such a long duration, we can see bitcoin can automatically trigger a defensive state very quickly. While the onslaught and correction right now is overwhelming, the damage is more severe than ever, Tesla and Elon Musk may be hoaxes but if the explanation right now will change anything, the community is still panicking, it is difficult to hear such statements

[Yamifoud]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

And that changes had already happened.

https://www.theguardian.com/technology/2021/may/12/elon-musk-tesla-bitcoin
https://edition.cnn.com/2021/05/12/tech/elon-musk-tesla-bitcoin/index.html

Expect for other such changes on other companies as well.

But I don't think that the sudden drops are all about Elon's statement towards Bitcoin's acceptance as payment. Maybe there is another reason or we are already reaching the limit and it is a need for Bitcoin to rest sometimes including altcoins. I think everyone is aware already of this possible scenario.
We have to remember that not all the time the market is in hypes, it sometimes goes down and rises again in the future.

[BChydro]

you just proved that your only here for the pump and not for the dump .

Everyone is bound to watch the market dump and there is nothing that is going to prevent that. He can sell the coins and watch as a spectator when the market goes down and that is what majority expect to do until they invested after the rally reached its highest valuation as they are once who are usually forced to sell at a loss.

im used to the dump after a pump because once i sell i can buy at low again and so what if theres no 100k , 1million , and so on but as long as value recover and pass more than its last value   , i can still earn something  .

It is a general expectation that the market would build stronger with time and till now we have not seen the support valuation we see before the rally after the bull run even after a major crash and when that cycle is breached we might see more panic in the market .

[MrPB3N]

it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.

So?  It's not a get-rich-quick scheme.  Stop treating it like one.  The function and purpose of Bitcoin is of greater importance than the fiat value ascribed to bitcoins.  The network itself has no concept of your desires for arbitrary round numbers with lots of trailing zeroes.  That's not a priority.

Extremely well put. Bitcoin is an amazing innovation (which will reward those who've held it). No need for FUD and selling for fiat.

[bitzizzix]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

And that changes had already happened.

https://www.theguardian.com/technology/2021/may/12/elon-musk-tesla-bitcoin
https://edition.cnn.com/2021/05/12/tech/elon-musk-tesla-bitcoin/index.html

Expect for other such changes on other companies as well.

But I don't think that the sudden drops are all about Elon's statement towards Bitcoin's acceptance as payment. Maybe there is another reason or we are already reaching the limit and it is a need for Bitcoin to rest sometimes including altcoins. I think everyone is aware already of this possible scenario.
We have to remember that not all the time the market is in hypes, it sometimes goes down and rises again in the future.

Everything will be fine and what is happening in the market especially bitcoin is normal, it needs to rest after a long and significant increase and what is happening in the market today is nothing new.
and elon or other news is just a mental test for us and even if it is true, it will not affect old users in the industry, but will affect those who are new and weak hands which will make things worse.
and this decline is only temporary and the market will recover in the coming months.

[Xinarae*]

BTC certainly has a bright future crypto market means rise and fall when the price of currencies goes up a lot then it starts going down. But there is nothing to be disappointed about the bull run in the market and the market will recover very soon the market is being corrected I think it's the right time to buy coins Elon Musk statement will make bitcoin stronger and the price will remain stable for a while but the market will rise again. Many people will not die in the future the price of coins may increase.

[Argoo]

Elon Musk and Tesla hit the market really hard by the decision he made about Bitcoin payments. This has really mixed up things in the market. This may even cause the bull market to end which I don't wish for absolutely.

And that changes had already happened.

https://www.theguardian.com/technology/2021/may/12/elon-musk-tesla-bitcoin
https://edition.cnn.com/2021/05/12/tech/elon-musk-tesla-bitcoin/index.html

Expect for other such changes on other companies as well.

But I don't think that the sudden drops are all about Elon's statement towards Bitcoin's acceptance as payment. Maybe there is another reason or we are already reaching the limit and it is a need for Bitcoin to rest sometimes including altcoins. I think everyone is aware already of this possible scenario.
We have to remember that not all the time the market is in hypes, it sometimes goes down and rises again in the future.

Yes, it’s quite possible. We were already expecting a deep correction in the market and we just needed some reason for this to happen. Elon Musk's recent statement about the negative environmental impact of Bitcoin mining would otherwise have a short-term impact on the market. However, this has now served as the impetus for a deeper and more prolonged fall. Although it may still be that after a short period of time, bitcoin will recover and the next wave of growth will begin.
Overall, I do not think that after a deep fall in prices, the market will need several years to recover. The overall situation on the market is better now than it was in 2017-2018.