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

[Mahanton]

They may not become the whole reasons why the price drop so dip. But, they are part of the reasons why the price falls so deeply. It is also because so many people panic sells because of the negative issues. Personally, I hate what Elon musk does to the crypto world because he is likely playing with crypto, making some FOMO and FUD of crypto that makes many people or followers being panic sell, and buy so easily and drastically.

No doubt about being one of the reasons on why this market had dumped down and its no surprise that people would really always find to blame out these people but
is there anything that they could do with this current situation? Thing here is that you do able to save up yourself and able to secure profits while the market is still
on the higher side and now that it had dumped and corrected then theres no way for you to do so this is why its much better to find these cheap price
to be an opportunity for you to buy cheap because this market will eventually recover later on.

[cute nmp]

It's hard not be blame Elon musk and China for the recent dip in bitcoin because each of them contribute to it's downtrend even though bitcoin chart form a triple top structure with three downward divergences on the four hour time frame indicating a heavy selling pressure. But honestly the news did more harm than anything else and that's what affected the market more than anything.

[SacriFries11]

They may not become the whole reasons why the price drop so dip. But, they are part of the reasons why the price falls so deeply. It is also because so many people panic sells because of the negative issues. Personally, I hate what Elon musk does to the crypto world because he is likely playing with crypto, making some FOMO and FUD of crypto that makes many people or followers being panic sell, and buy so easily and drastically.

I think they only the reason why btc goes down deeply because of the banning again by China and tweets by Elon, causing people to get panic resulting to sell most of their bitcoins. We all see how the rich people really affects the situation of the crypto world, especially whales. It's happen for a reason, BTC back again at $35k after rallying $40k plus. I think it will move up day by day, it will continue to recover in upcoming weeks, so we should better to buy this dip.

[Ruvi2000sew]

The market price has seen a drastic rise, with a brief period of time when the downturn was too rapid. if it was not carried out by the two parties involved, of course, the sharp fall to date is evidently unnatural, so Musk and China's crypto ban are the parties to blame.

[ChaoChibai]

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.

Well, that is a quiet good explanation. I think Elon Musk and China has nothing to do with market correction, but we can not deny that maybe they also has a little bit portion for the correction of the market now. because many people will believe at influencer comment such as Elon Musk, who is a huge public figure.

[impulse709]

The adjustment will definitely happen.There is no market that will increase forever. However, China's influence on the market can't be denied.China is the country with the largest number of miners in the world.

[Mr.Scott]

The adjustment will definitely happen.There is no market that will increase forever. However, China's influence on the market can't be denied.China is the country with the largest number of miners in the world.

To my understanding this is just never ending procedure. Rich and Poor never combat equally, some influencers and big economical country impact the market and poor hands easily affected. Upsides and downsides both are looking pretty good in the terms of good market.

[VanDeinsberg12]

They may not become the whole reasons why the price drop so dip. But, they are part of the reasons why the price falls so deeply. It is also because so many people panic sells because of the negative issues. Personally, I hate what Elon musk does to the crypto world because he is likely playing with crypto, making some FOMO and FUD of crypto that makes many people or followers being panic sell, and buy so easily and drastically.

Yea, elon and china's fud combination, basically like rubbing salt into the wound meaning doubles the dump, I know we can't blame elon entirely for the dip or anyone but if they can stop manipulating the market it's highly appreciated

Remember, there are many factors that influence the market I know, even the market is too hard going up because maybe it's already overbought around ATH but ELON and CHINA definitely contribute to the dumping with their fud with their
confusing opinion in regard of crypto.

[senyorito123]

The adjustment will definitely happen.There is no market that will increase forever. However, China's influence on the market can't be denied.China is the country with the largest number of miners in the world.

You say it right, talking about the price which we know that it is not stable, it sometimes goes up and sometimes goes down. I think no need to blame about it, because it is one way of the process in crypto. What affects most in the price are the people behind who invested and how demand it is in crypto. Never ever blame, it is better to understand the movement and the process.

[Reid]

But the correction went too far. It almost came back from when the price was after the Elon dump.
If it's just balancing the market then it should still be at 40-45k a piece but no, it went deeper because of the bad tweet.
I agree though to stop the blame game because thanks to what he did we will see who the true players will be and not just minions of the billionaires who are buying without knowledge of what they purchased.
Everything is going to be better without them in the long run.

[asriloni]

so Musk and China's crypto ban are the parties to blame.

We can imagine if there would be no FUD from musk about bitcoin and that will not make the price of bitcoin goes down like a few days ago but this time bitcoin is slowly recovering again.
Musk was making lots of people distrust to the bitcoin but this is not happening again for now as there are lots of billionaire going to the bitcoin. We have bunch of good news already released to the market.
that's why the price of bitcoin can recover again to the previous position before it was getting dumped caused by china news.

[LeastComicStanding]

It may not have been one or the other specifically, but it was a coordinated drawback from large institutional adopters who may or may not have used them as scapegoats to explain why they were taking so much out.

To look at the top 100 coins on coingecko, you can clearly see that most of the charts are almost identical.

[Stanlo]

Don't mind them, what goes up must come down and that's what crypto market did, Elon Musk ruined the market? That's a joke because that man took a risk with his reputation and make many people millionaires with doge coin alone

[yananda]

i think it's just a cycle, there is always bad news which takes effect. we can take a lot of lessons and it will be a meaningful experience
precisely at times like this we can add potential assets and don't rely too much on speculation

[bluebit25]

Personally, I would still accept the cause and blame the influencers or countries affecting the market price. It is best not to appear to be a wise and knowledgeable person in this market, people think they are smart enough and in control of their own wealth, consider the matter from all angles and maybe immediately We were wrong to approach this market from the start.

[abel1337]

I totally agree with you mate, I've always been of this same opinion, but most people tend to focus on Elon musk, most even went as far as calling him names blaming him to the market crash.
The thing is almost every one was expecting bitcoin to reach $100,000 usd before any major correction happens, they all forgot the market does not work like that, this correction have been there, waiting for someone or something to trigger it, Elon happened to be the one who did trigger the correction, and since most people don't actually know what a correction is, they blame Elon, calling him  names for being the mastermind behind the market crash.

Most of the people who blamed Elon are the ones that entered crypto believing that Elon could make them a quick buck but the opposite of it happened. Those who entered the market is most likely lack knowledge on how the market works. They have seen how powerful Elon tweets in the market and I think they are just thinking that Elon tweets would last long until their target price.

Elon could somehow affect the market, But it doesn't mean he is the main cause of the market crashes.

[acener]

There is no one to be blamed for the dip it is normal for investors to take their profit,
And it just happen because many of the investors decided to take their profit at the same time and it drop the price and people who doesn't have a plan to sell their Bitcoin has been forced to make a cut loss.
Price increase and drop are normal in investment because investors are putting in their money and taking out their profit so you should already expected it to happen when the price started to rise up.

[kotajikikox]

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.

Nope , the Blame must be put on those because if they did not Make those statement then people or better called manipulators have no chance to start the plan of making the market down right?
there is always a trigger for the plans to make possible and that is what it is.
only just the attack happens after the tweet and the news but this was being planned long before it happened.

[husdemba]

Sometimes corrections are inevitable for a healthy market. I don't think we are in a bear market right now. There would be some corrections, and Elon Musk and the Chinese issues are just an excuse. The markets are about to have good times again right now 

[Vishnu.Reang]

Sometimes corrections are inevitable for a healthy market. I don't think we are in a bear market right now. There would be some corrections, and Elon Musk and the Chinese issues are just an excuse. The markets are about to have good times again right now 

Normally corrections result in an increase in the Bitcoin dominance. But that didn't happened this time around. At the time of correction, the dominance was 40%. And although it went up to 47% immediately after the correction event, the altcoins rapidly recovered and now the dominance has been reduced to 43%. For a healthy cryptocurrency market, I believe that the Bitcoin dominance should be at least 60%. We are a long way away from that figure, and many of the shitcoins continue to enjoy tens of billions of USD in market cap.