Don't blame Elon musk and China for the dip!!!!!!!

[pealr12]

Elon plays a huge role in the dump bro, maybe till now btc price will still be within 52k and above but Elon had to open his mouth or his hand whatever to  make such announcements, there is no need trying to defend Elon, he is partly responsible because he has many followers and should be aware of the consequences your tweet will cause.

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[odukoyaewatomi27]

I get the point you are trying to make here. But you need to understand that he led most people on, and they sheepishly followed him. So when he turned and said what he said then the market dumped after. They will rightfully blame him for it.

[goaldigger]

I get the point you are trying to make here. But you need to understand that he led most people on, and they sheepishly followed him. So when he turned and said what he said then the market dumped after. They will rightfully blame him for it.

He’s using his influence to hype a project, but those who follow his tweets every time can’t totally blame Elon because he is not forcing anyone to buy, we choose to buy because we believe on his hype. Anyway, its not new to China to always banned Cryptocurrency and I don’t think this is the main reason of the dump but looking at the monthly chart, bitcoin really on a point of overbought, that’s why correction happened.

[cute nmp]

Many people will disagree with what you said but this is the simple truth whether we like it or not.Bitcoin chart form a triple top structure with three divergences indicating that it has reached it's overbought level and will have to go for corrections.Then Elon musk news that tesla will stop accepting Bitcoin and China announcement which worsened the situation causing this dip in the cryto-market.

[dikistutmazsabri]

We cannot get anything just by blaming elon musk and china. these dips are inherent in the market. now the market is showing its own normal movements. There shouldn't be anyone here that we can definitely blame. and these dips are what should happen for healthier spikes. It is something that anyone interested in cryptocurrencies knows. the market is correcting itself, but what we hope is that this correction does not take too long.

[harapan]

I can't agree more, yesterday when the market was dumping hard I saw so many people tweeting hate speeches about Elon Musk and how he made them loose their money, some were saying they invested so much on crypto and now with the dump their money in dollars have reduced  alot, we can't blame Elon for the whole dump on the market, noobs and weak hands panic sold in fear, the market was due for a bug correction and we have gotten that now, now let's see if the bullrun will still go on or not.

[adekogbe]

The dip in price on the crypto market was always going to happen sooner or later, because the bullish market moves were so strong that the market was already at overbought prices and the Retracement if price was always going to happen at some point.
The FUD caused by Elon's BTC tweet and the China news only made the dip more rapid, but that was not solely their fault

[Rengga Jati]

It is not as simple as this about Elon.  Many people blame him because of what he is doing to crypto,  likely a playmaker and want to be aknowledged? 
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow.  And it is not about the chart only and not about the overload bla bla bla......

However,  actually everytime we are talking about him,  he may be very very super happy being acknowledged again. 

[Saisher]

Two events are just excused to lower prices and people believe in to blame. The truth is we've seen growth for a long time. Any growth needs a correction to continue to rise so I'm not surprised that Bitcoin has dropped to such a terrible extent. I believe that the main beneficiaries are the sharks and whales because they are the ones who control the market.

Yet many people are pointing to bad news as a reason to sell or dump their coins, we cannot stop these weak hands from dumping their hands and very quick to point our negative news as reasons why they are selling their shares only to regret later, stop following manipulators do your own research it's their way to manipulate the market so you can dump your shares and buy it.

[Twinkledoe]

It is not as simple as this about Elon.  Many people blame him because of what he is doing to crypto,  likely a playmaker and want to be aknowledged?  
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow.  And it is not about the chart only and not about the overload bla bla bla......

However,  actually everytime we are talking about him,  he may be very very super happy being acknowledged again.  

We can't deny the fact that it seems crypto market has really influenced by him. Considering that this market has been here more than a decade, and Elon just recently joined the crypto market. I guess, it will calm down once he also stops tweeting about crypto-related matters. But good or bad publicity, some people especially his followers may got their interest into checking out crypto. But when it comes to decision towards your portfolio, better do it on your own research and not rely from someone's opinion.

[makishart]

When bear market plans to occur few things like Panic sell off will surely happened, this same thing took place in 2018 too and slowly the market start collapsing, to me it's time we should start planning for bear season cos bull season never stays longer

I think that you must remember that if in 2018 crypto has been getting some bad news like the ban from the government and various thing. That can be the reason why people are leaving the market because they are feeling if that will be disaster to hodl crypto asset consider more and more ban will be coming to the crypto.
The correction is a must but we can't deny that the pressure from elon and news from china were so big.

[Lanatsa]

If we are to be really honest with ourselves, the cause of the recent dip in the market is not because of Elon Musk tweet or because of China ban on crypto (though it added to it). It is because the market has been in an overbought position long enough. Taking Bitcoin for example, the price increased so fast (leaving a price imbalance/void) without any serious retracement or correction. So the market is just correcting itself.

Do you really expect that there's no one had been affected on such dip? Of course its part of human nature on getting frustrated and finding out someone on whose the cause of the problem.

Blaming would be always next in line because this isn't something that we can just ignore specially if we lost money in our investment.We would find out the cause and whine up and blame

out into those who are responsible on such event.Somehow there's nothing we can do if things had already been done.

[nurilham]

Are you an Elon Musk fan? Why we don't blame Elon Musk and China? I think it is our right to blame them since what they did really bring a bad impact on the crypto market. We saw the crypto market experienced a huge correction, many crypto prices decreased significantly till today. I don't want to forgive them, the impacts almost make me lost more than 50% of my crypto assets.

[acdc]

It is because the market has been in an overbought position long enough. Taking Bitcoin for example, the price increased so fast (leaving a price imbalance/void) without any serious retracement or correction. So the market is just correcting itself.

Did you think the fundamental didn't give impact to the market? The fact that if these days technical analyzation means nothing when it was facing a very bad news like china was banning crypto from its country.

In fact, technical analysis has never been true for bitcoin and cryptocurrencies.
The cryptocurrency market operates on the trust of investors in the project of their choice.

[karungbitcoin]

I have been see big dumped on crypto market before, and this is still normal of price action. In my opinion this is only correction in bullish season and next a few month the price of Bitcoin and others altcoin will be higher than the resistance area. I don't think the bull season only happening for a few month after 3 years of bearish market so keep calm and patient for waiting the price rebound.

[sadewa69]

It is because the market has been in an overbought position long enough. Taking Bitcoin for example, the price increased so fast (leaving a price imbalance/void) without any serious retracement or correction. So the market is just correcting itself.

Did you think the fundamental didn't give impact to the market? The fact that if these days technical analyzation means nothing when it was facing a very bad news like china was banning crypto from its country.

In fact, technical analysis has never been true for bitcoin and cryptocurrencies.
The cryptocurrency market operates on the trust of investors in the project of their choice.

that's right, the overall value will be determined by the market. but sometimes the sentiments created by certain people make a trend change in the market. We cannot blame, but what happens now we can take the experience that the crypto market still consists of investors who are very easily influenced by bad news outside of the world.

[semobo]

If we are to be really honest with ourselves, the cause of the recent dip in the market is not because of Elon Musk tweet or because of China ban on crypto (though it added to it). It is because the market has been in an overbought position long enough. Taking Bitcoin for example, the price increased so fast (leaving a price imbalance/void) without any serious retracement or correction. So the market is just correcting itself.

China banned cryptos? I guess its a wrong information.

Elon Musk know what he is doing which intiated the price dump for sure because he just wanted the Doge to be bullish so lured the investors to buy more Doge and also he said he is not going to accept bitcoins for payment modes.

[FinneysTrueVision]

I was expecting this to happen when I saw so many clueless noobs trying to get involved. We saw meme coins getting pumped really hard even though they are not fundamentally sound currencies. I hope this crash has scared some of them away but I know people will get greedy again and we will see a repetition of this.

[elisabetheva]

I have been see big dumped on crypto market before, and this is still normal of price action. In my opinion this is only correction in bullish season and next a few month the price of Bitcoin and others altcoin will be higher than the resistance area. I don't think the bull season only happening for a few month after 3 years of bearish market so keep calm and patient for waiting the price rebound.

optimism must always remain that the correction has indeed taken place, but this is not a very dreaded end. This will not be the same as when the correction occurred in 2018, because now it is different because many unexpected influences are visible at this time.

Bitcoin with the existing capabilities will be able to overcome this problem with the influence of investors who are starting to return are no longer always affected by those who are looking for opportunities to make profits. Bitcoin travel time is still long, let this correction provide an opportunity for those who have not been able to enjoy bitcoin to also have this opportunity.

[EmmaGod]

I understand that the Chinese has a large stake in the cryptocurrency industry as several bitcoin mining companies and cryptocurrency users are in the region, but we've heard about the Chinese ban several times in the past and in most cases the impact on the market is not as bad as we have it presently.