Why Bitcoin price crushed?

[Avantikakaur]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?
Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

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[passwordnow]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?

One known reason is related to Elon Musk's change of heart about bitcoin. He probably just sold and made money with the bought bitcoin of Tesla and that's the reason why the market plunged since his announcement about environmental issues that bitcoin is bringing.

Can we then assume that the market is now moving at its own pace and that it will return to its previous position?

Yeah, likely and that's much better. Without the presence and influence of one of the richest person in the world then bitcoin is showing its natural growth and movement and the plummet is just another signal for those who wants to buy, they should take it now.

We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

Situation is fine but I don't know what do you mean by the location. You're right about it's going back again as it's the main character of bitcoin, a resilient asset that we already knew.

[Obito]

One known reason is related to Elon Musk's change of heart about bitcoin. He probably just sold and made money with the bought bitcoin of Tesla and that's the reason why the market plunged since his announcement about environmental issues that bitcoin is bringing.

We could've avoided this if the crypto fanatics didn't overreacted regarding his tweet about bitcoin being bad for the environment. And now, Elon is having doubts hodling because people are stupid and bullied him into a corner and now he is considering selling bitcoin. I don't worry that much, if it really plunges downward then who cares, it will still go back up no matter what.

[Avantikakaur]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?

One known reason is related to Elon Musk's change of heart about bitcoin. He probably just sold and made money with the bought bitcoin of Tesla and that's the reason why the market plunged since his announcement about environmental issues that bitcoin is bringing.

Can we then assume that the market is now moving at its own pace and that it will return to its previous position?

Yeah, likely and that's much better. Without the presence and influence of one of the richest person in the world then bitcoin is showing its natural growth and movement and the plummet is just another signal for those who wants to buy, they should take it now.

We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

Situation is fine but I don't know what do you mean by the location. You're right about it's going back again as it's the main character of bitcoin, a resilient asset that we already knew.

By location I mean the current situation of the Bitcoin market example Binance, Bittrex etc, So you're saying that Bitcoin is a bit limited in the hands of "Elon Musk's" or popular or rich people like them? If so, then Bitcoin cannot run on it's own they control bitcoin in different ways.

[Mauser]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?
Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

In my opinion the BTC market crashed thanks to Elon Musk. First he hyped the crypto coin and bought a lot himself and now he is pushing in downwards. It is hard to tell right now, if there gets the news out that Elon Musk just wants to drive BTC down so he can be buying more himself than BTC should be rallying soon again. I don't think we will see BTC to drop down to 20,000 or 10,000 USD. I would rather expect it to balance our around 40,000 USD until new news are coming out that another big investors starts buying into the market.

[bakasabo]

There is no proof that Elon Musk has sold his Bitcoin, so he is in the same sinking boat with us. I dont believe that Tesla suspended accepting Bitcoin due to mining influence on the climate. Perhaps that excuse was only for the public, and real problem are legal issues. His decision made Bitcoin lose 10% of its price; same amount it gamed after Bitcoin as a payment announcement. But he did not say anything yesterday, and we see a -$5k drop. Who is responsible for that?

[mirakal]

There is no proof that Elon Musk has sold his Bitcoin, so he is in the same sinking boat with us.

Why would he make such a statement that would result in a dump of bitcoin... For a rich person like him, he can always sell and buy when the price is very low. By trading alone using his influence to manipulate, he can make millions of dollars in a single day, so it's easy for him.

But then it's just our speculation though, but it's obvious that the reason is Elon Musk's announcement about Tesla suspended in accepting bitcoin.

I dont believe that Tesla suspended accepting Bitcoin due to mining influence on the climate. Perhaps that excuse was only for the public, and real problem are legal issues. His decision made Bitcoin lose 10% of its price; same amount it gamed after Bitcoin as a payment announcement. But he did not say anything yesterday, and we see a -$5k drop. Who is responsible for that?

We don't know the real reason but the damage has been done, and his reputation in crypto now is not anymore good.
He will now be tagged as anti bitcoin.

[TastyChillySauce00]

There is no proof that Elon Musk has sold his Bitcoin, so he is in the same sinking boat with us. I dont believe that Tesla suspended accepting Bitcoin due to mining influence on the climate. Perhaps that excuse was only for the public, and real problem are legal issues. His decision made Bitcoin lose 10% of its price; same amount it gamed after Bitcoin as a payment announcement. But he did not say anything yesterday, and we see a -$5k drop. Who is responsible for that?

Yeah, can't entirely blame it all to elon since the correction itself already expected since we hitting the new ATH but honestly he isn't as dumb as making his own asset gets dumped like that, I'm sure he has some method to somewhat gain something from his feud in twitter regarding energy consumption etc. I'm myself believe that elon holds big amount of doge and btc at the same time and maybe he has dumped some amount to the market and decide to spread fear like that.
Not a biggie though, pretty sure the price gonna get back up in a few months.

[Scripture]

Many speculated the continues uptrend but very few sees the possible big correction in the market, and that's happening now. This is normal after trying to break the resistance many times but still failed to do so, we've reached the peak already and if Bitcoin didn't hold into the sideways trend, then we can confirm the bear market already. Don't panic, this is a buying opportunity again think of those big players who enters on the peak price of Bitcoin, for sure they are still holding.

[iram3130]

I don't know why some people are so dramatic about Elon selling his Bitcoins.. We were here before Elon and we will be here, after him. He is just trying to manipulate the market and he is succeeding in it. Bitcoin will bounce back for sure. The market may have been shaken at this moment but it is not permanent.

[Wexnident]

I don't know why some people are so dramatic about Elon selling his Bitcoins.. We were here before Elon and we will be here, after him. He is just trying to manipulate the market and he is succeeding in it. Bitcoin will bounce back for sure. The market may have been shaken at this moment but it is not permanent.

Not sure about this, but probably because Elon was one of the few people who made people invest in Bitcoin. He had introduced crypto to his followers, and they are a lot ngl, and probably some of them went out to invest Bitcoin since Elon was looking into it, just like how it was in Doge the first time. Now that Elon is talking bad about Bitcoin, like it or not, it's a negative influence on newbie investors who pretty much just follow what the trend of social media (aka famous people) go for.

[Ararbermas]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?
Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

its just because of the guy who said "bitcoin isn't decentralised and dogecoin is better" and after that it literally make the bitcoin price decrease below 50k. No wonder actually because everytime he always make tweets its very effective in the market.. But for me in my personal opinion mate this isn't scary any more because for sure the real intention of this guys is to make a worse down trend and after that to bring it back to the top again like what happened to doge.. He's a very smart guy so watch out for the next destination of bitcoin price.

[awik p]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?
Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

its just because of the guy who said "bitcoin isn't decentralised and dogecoin is better" and after that it literally make the bitcoin price decrease below 50k. No wonder actually because everytime he always make tweets its very effective in the market.. But for me in my personal opinion mate this isn't scary any more because for sure the real intention of this guys is to make a worse down trend and after that to bring it back to the top again like what happened to doge.. He's a very smart guy so watch out for the next destination of bitcoin price.

We know cryptocureency is very sensitive to news from influential people, and after that it seems as if many traders are doing the same thing, so crashes are inevitable. especially if the whales sell bitcoin on a large scale and the news is followed, so that a big crash seems unavoidable

[CryptocurencyKing]

We know cryptocureency is very sensitive to news from influential people, and after that it seems as if many traders are doing the same thing, so crashes are inevitable. especially if the whales sell bitcoin on a large scale and the news is followed, so that a big crash seems unavoidable

Well, this is more like a thing of recent. Before hand, the market moved at its own pace as stated in OP where, traders and retailers determined the moves. With bitcoin being a highly volatile market and environment coupled with Elon Musk stepping into the system, the sentiments about bitcoin took a boost and the coin or generally cryptos pumped. It becamse more of an institutional thing which made manipulation of the market possible.
Elon has got fans, lots of them and the fact that, his coming to terms with a more greener world, sustainable energy sources and projecting bitcoin above all as major causality to this effect with response from critics like Warren Buffet explains a lot on why the market keeps falling.

[DarkDays]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?

Can you expect an indefinite rise on any market? BTC like many other markets respond to external stimuli and while for some it may seem debatable there's one particular reason many thing caused this tsunami - Elon Musk.

Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

Mate, you're asking these questions like people on here are supposed to know the answer. Nobody does. Nobody can forecast the future the best they can do is take educated guesses, and make their judgements and moves based on risk appetite.

[aoluain]

We can only speculate as to why Bitcoins price is reversing so much.
I would say there are a number of scenarios at play, like always.

The Elon Musk factor has to be accounted for, plus his followers who blindly
bought Bitcoin and who now are blindly selling.

Manipulation by traders and whales is another factor, not necessarily a negative
thing as traders react to market movements.

General FUD by a lot of people who may not be fully aware of EM's influence and
who dont understand Bitcoins potential market movements.

[Silberman]

Many speculated that Bitcoin would be much more upward than its $50000 team, so why is bitcoin price downward?
Can we then assume that the market is now moving at its own pace and that it will return to its previous position? We've already seen that every bit of Bitcoin's precious moments come back again and again and make a better position than before. What are the current situation and the location of Bitcoin?

Trying to find reasons why this is happening is useless because that is not going to help you know what you should do? This is nothing extraordinary in the market of cryptocurrencies so the real question should be what do to under the current circumstances? And the answer to that is going to depend entirely on the goals that you have, for long term holders this is not a reason to panic and if anything it could be what they were expecting as they can buy bitcoin for cheap prices again and accumulate more of it than when the price was so high a few weeks ago.

[Saniati]

30-40% crash is normal in bullish market. And it’s buying opportunity. Hope,soon we see it on 51k again ❤

[Hamphser]

30-40% crash is normal in bullish market. And it’s buying opportunity. Hope,soon we see it on 51k again ❤

People should realized this one and this is indeed true and on point but people do freak out when they do saw the market is declining.Well, it wont really be that surprising or something

new because we investors are really easy to react out when we do see our portfolio is going on reds.If you do get used to percentage drops on stock and forex market

and trying out to compare in crypto then its entirely different but since you do decide to engage with crypto then these movements are just normal.

[Kelvinid]

30-40% crash is normal in bullish market. And it’s buying opportunity. Hope,soon we see it on 51k again ❤

People should realized this one and this is indeed true and on point but people do freak out when they do saw the market is declining.Well, it wont really be that surprising or something

new because we investors are really easy to react out when we do see our portfolio is going on reds.If you do get used to percentage drops on stock and forex market

and trying out to compare in crypto then its entirely different but since you do decide to engage with crypto then these movements are just normal.

That really be freaking out especially when you buy now and after a few days, the price drops to like 20-30% you'll definitely get mad on it.

And people should realize as well that investing in crypto corresponds to such risk where losing is inevitable and no way to avoid it but just only to minimize it. If these people can't take such a thing, make it better to stay away from crypto as this was not the right place for them.