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

[In the silence]

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 

Correct! Some people should really research what theyre into, ignorance and blaming others for their actions will literally drain their investments portfolio.

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[inanilujimi]

Crypto market is supposed to be corrected, so that it is even stronger than before, and for Elon Musk and China we have experienced this many times in the past, strengthen your mentality to get used to this market, don't let the whale control your emotions.

[trauchot]

Unfortunately, the cryptocurrency market reacts very strongly to Elon Musk's tweets and therefore he is also involved in the fall of the cryptocurrency market, and news from China has always greatly influenced the cryptocurrency market and therefore I think that negative news from China and Elon Musk's tweets had a very strong impact on the recent drop of the cryptocurrency market, but of course I agree that the cryptocurrency market has been growing already long time and correction was expected, so market correction started just after the tweets from Elon Musk and after the negative news from China.

[BitTraderCute]

personally i agree , we should not blame anyone while market drop hardly. if we look several days or weeks ago bitcoin and altcoin rose sharply . if we didnt greedy we should took profit from this highest price, but we dont do this. and finaly when market crash due some reason we blame anyone who make fud. atleast from this accident we could take important lesson.

[ILuckyGuyI]

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.

Your reason could be one of the factors too of course. But I can't say such thing as "Elon Musk and China don't have any affect on the market". Because we've witnessed so many news etc. like these which directly affected the market in a good or bad way.

[dotcoin.info]

I don't like it when people accuse some third parties and celebrities that the market has collapsed or some kind of recession has occurred. I don't think that ordinary people play a big role right now, most of which somehow have a small share of bitcoins compared to the huge balance sheets of exchanges and institutional investors. Therefore, those people who have lost money in the current recession can blame anyone and as much as they want, but that will not change anything.

[Johnyz]

I don't like it when people accuse some third parties and celebrities that the market has collapsed or some kind of recession has occurred. I don't think that ordinary people play a big role right now, most of which somehow have a small share of bitcoins compared to the huge balance sheets of exchanges and institutional investors. Therefore, those people who have lost money in the current recession can blame anyone and as much as they want, but that will not change anything.

There’s a lot of reason for the price dump but we have to accept that FUD created by Elon and China made a lot of contribution for the price to go down because that’s already a signal for the whales to sell their holdings and but back again at the bottom of the market. Big players know this one, and we should know it too instead of blaming better to watch them closely and trade accordingly.

[tabas]

I don't like it when people accuse some third parties and celebrities that the market has collapsed or some kind of recession has occurred.

Elon did really manipulated the market and that's why you cannot also blame everyone who's eyeing on him. Because it's his fault to move the emotions of everyone in the market. But you're right, in such markets you should focus on the news so that whenever some bad news exists, you're the first one to react and you know what to do and you've been prepared for it.

[kenelmark]

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.

I think the price correction does happen every time there is a bull run. This event happened in 2017. This is normal in crypto trading.

[NicNacCoin]

Very recently Elon musk again tweeted his Twitter profile with Tesla again want to continue it's business with Bitcoin. I think Elon musk a tricky person who invested Bitcoin with lower and when he want to sell then he tweeted positive about cryptocurrencies.

[apityeh71]

Yes the market is not all the time will going up without any correction. There are time for this market boring because keep going up and then going down for while and then back to rebound. From TA, $64k area is good resistance and currently $30k-40k is support area, if the price breakout this support then BTC has room to back bullish, even higher than $64k. Withbor without negatif statement from Elon Musk and China, the price of BTC will going down from area $64k because the price too high from support area $4k.

[Maestro75]

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.

Bear in mind always that what moves cryptocurrency is mainly news. People buy and sell on rumours. So, whenever there is news release it affects prices of tokens. Elon's tweet and the news of ban from China greatly affected the price of Bitcoin at the time. We can not say it did not. That will not be correct. Even if price is moving fine now at the current happening and Elon goes again to bash Bitcoin you can bet that the price will drop drastically in less than 24hrs. And if his tweet praises Bitcoin you can also bet that price will push up within 24hrs too. That is how cryptocurrency works. News makes it react alot.

[Fredomago]

Very recently Elon musk again tweeted his Twitter profile with Tesla again want to continue it's business with Bitcoin. I think Elon musk a tricky person who invested Bitcoin with lower and when he want to sell then he tweeted positive about cryptocurrencies.

Very greedy move from this influential billionaire, but yes, after he acquired more cheap coins from that last dip he again are trying to hype it out and bringing back the ties between crypto and his own business,
It's up to all investors and followers if they are still being attract by this obvious move from Musk, those who are willing to take the risk may follow him.

But to those who are already got an experienced with how he handle this market, surely they'll going to assess and see the situation first before making any decisions.

[bamb]

As much as what you have said is true as regards Cryptocurrency market dip,  the issue is not as simple as market correcting because over bought position!  I think institutional investors were selling and retail investors were busy creating and pumping meme coin, and that led to another round of sell off! I felt bitcoin was pumped to early this year ' thanks to Elon ' I expect reversal in current market situation in the last quarter of the year!

[lxiaoh]

It always takes bad news to crush the market, but it was Elon Musk and China that gave the whales the chance to break the table, so my opinion is their fault, without Elon Musk and China this dip will delay, then i wouldn't have lost so much.

[susuberuang]

It always takes bad news to crush the market, but it was Elon Musk and China that gave the whales the chance to break the table, so my opinion is their fault, without Elon Musk and China this dip will delay, then i wouldn't have lost so much.

Not only you who have lost so much, but other people as well, because basically everyone just wants to make a profit for themselves without realizing that they are being used by famous people out there.

[lexkiee28]

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.

In some point one key factor why there is a dip happening are because of these two reason that is Elon Musk and China created FUDs that scares the whole crypto community especially those newbies and weakhand that turns into panic for them. Nowadays crypto enthusiasts are now just looking for the tweet of Elon Musk instead of looking at same technical and fundamental aspect of crypto analysis.

[int03h]

The hot rise of the market made the risk of correction happen and it happened according to the laws of the market. We cannot prevent that from happening. The bad news is just a form for the big boys to take advantage of to dumping. I noticed a large amount of Bitcoin has been bought back and put into cold wallets.
We need to look positively at the bad news which are warning signs that the market is not good so we can get out quickly before the crash happens.

[Golftech]

The hot rise of the market made the risk of correction happen and it happened according to the laws of the market. We cannot prevent that from happening. The bad news is just a form for the big boys to take advantage of to dumping. I noticed a large amount of Bitcoin has been bought back and put into cold wallets.
We need to look positively at the bad news which are warning signs that the market is not good so we can get out quickly before the crash happens.

We should learn to analyze such events in order not to fail with our investment, the cycle like this will continue

it's a must to have a better view before dealing with the market, if you know how to anticipate your chance of

getting into the right position is far higher, You can buy in the right time and sell it with decent profits.

[laredo7mm]

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.

Yes, it was an overbought position. But Elon musk makes things worse by promoting doge with it. Many new investors bought doge around 0.6 or above. They are almost 50% lose right now. Now those people will exit from the crypto market and will say crypto is a scam. His market manipulation is something that affects the market. He is not good for crypto.

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.

Bear in mind always that what moves cryptocurrency is mainly news. People buy and sell on rumours. So, whenever there is news release it affects prices of tokens. Elon's tweet and the news of ban from China greatly affected the price of Bitcoin at the time. We can not say it did not. That will not be correct. Even if price is moving fine now at the current happening and Elon goes again to bash Bitcoin you can bet that the price will drop drastically in less than 24hrs. And if his tweet praises Bitcoin you can also bet that price will push up within 24hrs too. That is how cryptocurrency works. News makes it react alot.

There is a saying that buys the rumours and sell the news. News affects the crypto market heavily but in long term, only fundamentally strong projects survive.