Bitcoin decline is not related ONLY to Elon Musk! Binance is also related to it!

[electronicash]

It is really a pity that Bitcoin becomes related with a person or an institution, is it reasonable that a good statement from Elon Musk raises the price of Bitcoin and another bad statement causes the price of Bitcoin to drop, this is not good at all, Bitcoin is much bigger than that, it has suffered a lot of difficulties in its history But he emerged victorious each time and was stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.

i'd bet to that coming stronger maybe next week. this investigation will just pass and elon's mining fud will die down. very unfortunate for the users whose account was frozen due to the investigation. they can't ignore the fact that pipeline hackers asked for BTC. they could be trying to link it to someone.  i don't see anyone's account going to be affected unless you really did something illegal.

[temple]

It is really a pity that Bitcoin becomes related with a person or an institution, is it reasonable that a good statement from Elon Musk raises the price of Bitcoin and another bad statement causes the price of Bitcoin to drop, this is not good at all, Bitcoin is much bigger than that, it has suffered a lot of difficulties in its history But he emerged victorious each time and was stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.

i'd bet to that coming stronger maybe next week. this investigation will just pass and elon's mining fud will die down. very unfortunate for the users whose account was frozen due to the investigation. they can't ignore the fact that pipeline hackers asked for BTC. they could be trying to link it to someone.  i don't see anyone's account going to be affected unless you really did something illegal.

Does CZ take full responsibility for what is happening at Binance? In a worst case scenario those affected might end up waiting for quite some time. I am sure authorities are not in a hurry as it is not their money that s frozen right now. Curios how that will end and what penalties Binance will face.

[STT]

Its arguable to say its not related at all, its just a normal pullback that occurs sooner or later.   People attach a reason or two but as I look at charts mostly every day I see it in that way and we failed to breakout a while back which is a classic bearish sign.   If I notice something bearish there is now alot of traders who for their jobs will note as much as well and start the ball rolling to take profits on various trades, that means we head down to register lower prices at least for some time before settling higher or lower after market itself decides.   The reasoning or person to blame doesnt exist to me, that is just news or stories really.

[Shasha80]

~

Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how
Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.

Indeed, the declaration of Elon about the suspension of acceptance of bitcoin in Tesla somehow, influenced the market. But maybe, it is the time for correction again. With this drop in price, this will be another opportunity for those who are waiting for bitcoin to go down to buy their stash. And with the news that Binance is under investigation, we still don't know the full extent of this news. I am a user of binance and so far, everything is still fine. Maybe for those large whales, they will be strict in their KYC requirements.

But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.

[temple]

~

Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how
Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.

Indeed, the declaration of Elon about the suspension of acceptance of bitcoin in Tesla somehow, influenced the market. But maybe, it is the time for correction again. With this drop in price, this will be another opportunity for those who are waiting for bitcoin to go down to buy their stash. And with the news that Binance is under investigation, we still don't know the full extent of this news. I am a user of binance and so far, everything is still fine. Maybe for those large whales, they will be strict in their KYC requirements.

But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.

I was surprised that the announcement by Musk for Tesla accepting Bitcoin and investing in Bitcoin moved the price so significantly at all. I man a $1.5 billion investment isn't really that big of a deal. It was exciting yes but not that Tesla bought like 10% of Bitcoin. The announcement that Musk himself bought Bitcoin also wasn't that surprising. That guy shoots rockets to the moon, why is anyone surprised he said he owns Bitcoin?

[stompix]

Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!

It's not only about volume, volume matters so little when it comes to price, we have seen bigger swings up and down with half of the volume experienced in the lowest trading day of last year, the problem is confidence!

If Binance gets shut down a lot of people will say either:
- f#  exchanges I'm not touching those anymore
- f% crypto, I'm switching to something "safe" as CFD
- ponzi ponzi ponzi

I dislike binance as much as a person who hasn't yet! been scammed by them can, but I can't deny their global impact, hell, even I have some tokens there and I do own a card, mainly to burn those tokens in real life, dislike their policies as much as you can but you have to make use and acknowledge useful things.

A takedown by the DOJ would be a disaster, it might not have the impact of MtGox but no way in hell we're going away with only 5%.

[arwin100]

~

Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how
Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.

Indeed, the declaration of Elon about the suspension of acceptance of bitcoin in Tesla somehow, influenced the market. But maybe, it is the time for correction again. With this drop in price, this will be another opportunity for those who are waiting for bitcoin to go down to buy their stash. And with the news that Binance is under investigation, we still don't know the full extent of this news. I am a user of binance and so far, everything is still fine. Maybe for those large whales, they will be strict in their KYC requirements.

But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.

Many people are just been amazed because the richest guy on earth is joining bitcoin and since he's intention gas been exposed I believe he will be out of the picture soon the same as Mcafee.

Also I don't believe the fuds rotating right now maybe people need to relax and stop dumping since if they let the fudders win this we will see bitcoin dump more.

[rc4739]

Hey Man...  I think its  MtGox  all over again      Be Cautious  My Friend 

[justdimin]

I wasn't aware of it but this makes sense. Binance has always been actively involved in all these things and their owner seems more like a trader than the owner of the biggest crypto exchange. I even had a feeling that he was short-selling bitcoins since he has a massive amount and all these allegations must have some truth in there.

It's high time we start using decentralized exchanges because these centralized exchanges control our coins and can manipulate the market easily. I think all these series of events are indicating a shift in the market that might follow soon which is, to start using decentralized exchanges more. I would love to see what comes out of the investigation because if he is involved one bit in this saga then his exchange should be seized and everyone should be given their coins back.

[Gatorelf]

It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....

Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.

2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.

If European governments will join the party then it would be a much bigger disaster for Binance!

We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).

If you think this is just a "DIP", just a market correction, you're in it for a surprise.

It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.

How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.

Ive been locked out of my Japan Liquid account for over a year now, all the exchanges eventually have to answer to the governing body's where they are located. US citizens not allowed.   

[Silberman]

It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....

Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.

2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.

If European governments will join the party then it would be a much bigger disaster for Binance!

We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).

If you think this is just a "DIP", just a market correction, you're in it for a surprise.

It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.

How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.

Thanks for the heads up, this is bad news the only good thing out of this is that this cannot be as big as the Mt. Gox disaster was back then, 90% of all the trades happened on that exchange and binance is not as big so the damage should not be as big, however while people are enraged and sad because of what it is happening this is the opportunity of a lifetime, after this crash is finally over and bitcoin begins to recover we are probably never going to see a price so low so that will be the perfect opportunity to buy bitcoin for a cheap price.

[Hamphser]

Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the  recent events related to him.So i cant blame out for people not to look after him.

Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.

These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.

[Silberman]

Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the  recent events related to him.So i cant blame out for people not to look after him.

Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.

These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.

I agree, the conditions for a setback were already there, Elon was just the spark that ignited all of this and if it was not him then it would have been someone or something else, however this does not mean that we are going to take this lightly, people are not going to forget what he did and while he is still going to have a lot of fans we must not forget that the number of people that are estimated to be in bitcoin are now close to one hundred million, and all of them are not going to be happy they lost money because of him and most likely will avoid any product and service associated with him.

[bengsabeng]

Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the  recent events related to him.So i cant blame out for people not to look after him.

Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.

These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.

I agree with you that current market conditions are a cycle of bitcoin prices. but many people argue that Elon Musk also played a big role in the decline in the current price of bitcoin. this person is able to make the price go up or down just by writing on social media. really great 

[Ngemmeng]

he has a lot of money and a large social media following. therefore it is not difficult for Elon Musk to control the market. look a few days ago, he made the price of the doge go up quite significantly. after getting a lot of profit he left the doge which made the price of the doge go down.

[Silberman]

he has a lot of money and a large social media following. therefore it is not difficult for Elon Musk to control the market. look a few days ago, he made the price of the doge go up quite significantly. after getting a lot of profit he left the doge which made the price of the doge go down.

It was easy for him a few days ago, now that the market finally woke up to who he really is and that he is only in the market in order to obtain some profits then he is no different than any other whale that manipulates the market, with the difference that we know this was true for the whales from the beginning and now we know it is true of him as well, which is something that has made him to lose his reputation on this market and that we can clearly see he is trying to amend now but it is too little too late for most of us.