Elon Musk caused BTC crashed today. Buy the dip

[Republikcoin.com]

Elon Musk? it is true that he must be responsible for the current market conditions, but the biggest responsibility should be China.
China banned a number of trading and mining activities in China according to the news I got from here
https://www.reuters.com/technology/china-says-it-will-crack-down-bitcoin-mining-trading-activities-2021-05-21/

So, this is actually a periodic cycle that will occur after the Bitcoin halving and to be precise after the Bitcoin price has skyrocketed to reach a new ATH.

[1715080810]

1715080810

[Twinkledoe]

I missed this bloodbath in the crypto totally, i spent those hours running on the street without phone. When i got home and turned on my phone, i was totally freaked out, what a disaster day，May 19,2021.

Why on that day was a disaster for you? Is it because the market has gone downhill that it will be a disaster for you? if so, then you don't need to be angry and sad because other people also experience the same thing if they haven't had time to sell their assets on that day.

For first-time investors in crypto, its actually frustrating to see how a market can drain the price down in a single day. ITs not new to the old investors in the market, we have seen it over and over.

Bloomberg reports said that institutions are still up to accumulate coins so they much have a lot of BTC for they consider this bloodbath a discounted investment. Unfortunately for the ones who panic if this will quickly go up.

Maybe there is truth in that, those institutions are taking this as an opportunity to buy more bitcoin. But for those who panicked and sold theirs, we can't blame them. For them, that is the right decision to take, after all, that's their money to begin with. So for them even at a loss, they sold it. But in my opinion, do we really need to blame Elon or China on what is happening in this market? I don't think it is right to single out them. They are just one of the many reasons why we are having correction.

[leea-1334]

Maybe there is truth in that, those institutions are taking this as an opportunity to buy more bitcoin. But for those who panicked and sold theirs, we can't blame them. For them, that is the right decision to take, after all, that's their money to begin with. So for them even at a loss, they sold it. But in my opinion, do we really need to blame Elon or China on what is happening in this market? I don't think it is right to single out them. They are just one of the many reasons why we are having correction.

Not all. We saw also quite a number of socalled institutions sold their coins,,, which is quite weird as we all thought they were going to be hodlers and not be affected by a random elon musk tweet. I guess this proves that even some professional funds and socalled pro traders for longterm investment are no different to retails!

[lexkiee28]

I dont think that only Elon Musk causes the dump of btc in the market but also there are plenty of banning FUDs such as china banning cryptos, as well as india will make a much stricter regulation for bitcoin which tend to many people to do panic selling.

[Review Master]

Elon Musk? it is true that he must be responsible for the current market conditions, but the biggest responsibility should be China.
China banned a number of trading and mining activities in China

Indeed, it's true that China's new ban news has great impact for current correction and Elon Musk is responsible because his tweets indirectly helped a lot for institutional investors to manipulate the market. But it's great to see that china will ban only those mining farm which are currently running through electricity plants where electricity is manufactured by coal. Like i said earlier, market is just manipulated by institutional investors so that they could dump and accumulate more for next bullish rally. Still positive for next really as this type of things already happened back in 2017-18's bull run. 

[sana54210]

You should watch the chart again. It's needed a few hours after the dump caused by the tweet created by elon. The market was putting their trust into any news that being released to the market.
The whale could be an additional reason why the market turns into a panic sell-off.
I should remind you that if just an hour after the announcement from china to ban crypto and the market gets dumped even worst.

That was the initial drop, there was also another one as well. So when it crashed from above 50k to under 50k that was Elon and I agree with that, or maybe Chinese ban, or maybe something else I do not know, there are so many different bad news that people do not care during bull run that when we are in bear run people think all of them are so important suddenly, so many bad stuff happened in the past 1 year while we were going up and somehow they were "not important".

What I am trying to say that even if the first fall was Elon and only Elon and nobody else, dude just said they won't accept bitcoin anymore and that dropped it, the second one that dropped us under 40k wasn't really Elon, it never was Elon if you ask me but at least that one was definitely not elon, he didn't do anything during that period and that is why I think it was some other reason.

[Digital_Lord]

You should watch the chart again. It's needed a few hours after the dump caused by the tweet created by elon. The market was putting their trust into any news that being released to the market.
The whale could be an additional reason why the market turns into a panic sell-off.
I should remind you that if just an hour after the announcement from china to ban crypto and the market gets dumped even worst.

That was the initial drop, there was also another one as well. So when it crashed from above 50k to under 50k that was Elon and I agree with that, or maybe Chinese ban, or maybe something else I do not know, there are so many different bad news that people do not care during bull run that when we are in bear run people think all of them are so important suddenly, so many bad stuff happened in the past 1 year while we were going up and somehow they were "not important".

What I am trying to say that even if the first fall was Elon and only Elon and nobody else, dude just said they won't accept bitcoin anymore and that dropped it, the second one that dropped us under 40k wasn't really Elon, it never was Elon if you ask me but at least that one was definitely not elon, he didn't do anything during that period and that is why I think it was some other reason.

Yes Elon musk didn't do any think when Bitcoin dropped second time. I think there was Chinese crypto ban news which dropped price or there can be any other reason. I hope market will recover soon.

[Ghondronk]

In fact, I would rather say, he has made it to happen sooner than expected. With the bull market we have seen in last few months, such a dip is inevitable, at least in the means of a correction. But even under the negative market conditions, most of the currencies have performed better than what we have seen 3 years ago.

[leea-1334]

In fact, I would rather say, he has made it to happen sooner than expected. With the bull market we have seen in last few months, such a dip is inevitable, at least in the means of a correction. But even under the negative market conditions, most of the currencies have performed better than what we have seen 3 years ago.

Remember that he helped pump Bitcoin from 40 to 62k++ so we should be fine he brought it back down,,, in other words we have just returned to the value of Bitcoin that was before he came along. So no losses, just losing all the hype (unless you bought DOGE then you are still in profit I guess).

I would not also say better than 2017 yet, we could still crash further:)

[jeungo]

Now he needs to lower the price, I'm waiting for the news at the right time, when he writes that he again believes in the potential of the coin, and his company has already bought a lot, after that it will sell them again. The market listens to him, he makes money.