Anything particular causing these declines?

[9thsky]

Is it our friend Elon Troll Musk again?

[mocacinno]

Is it our friend Elon Troll Musk again?

There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.

[CryptoStar19]

Sounds like further China FUD... and upcoming quarterly options expiry.

[cheezcarls]

I think this is because of China's continuous crackdown on Bitcoin mining. I believe that some Bitcoin mining farms in parts of China are being shut down, which leads to a temporary setback of BTC's price, but this is actually good news for the crypto market as we don't rely anymore on China's dominance in BTC mining. They would fall behind for sure, so maybe give it a decade for them to actually fall.

[DannyHamilton]

Declines?

June 21, 2013:     $102
June 21, 2014:     $595    (An annual increase of 483%)
June 21, 2016:     $715    (An annual increase of 9.6%)
June 21, 2017:   $2,785   (An annual increase of 289.5%)
June 21, 2018:   $6,785   (An annual increase of 143.6%)
June 21, 2020:   $9,400   (An annual increase of 17.7%)
June 21, 2021:  $31,750  (An annual increase of 237.7%)


What part of that looks like declines?

[GreatArkansas]

Is it our friend Elon Troll Musk again?

I don't think so that we will see more Elon Musk troll posts for this price level.
If you can recall that Tesla bought Bitcoin around these price levels, they could be now break-even or underwater for Bitcoin they bought a few months ago, but then again they already sold some around $50,000+.

[SquirrelJulietGarden]

I don't think so that we will see more Elon Musk troll posts for this price level.
If you can recall that Tesla bought Bitcoin around these price levels, they could be now break-even or underwater for Bitcoin they bought a few months ago, but then again they already sold some around $50,000+.

Do you think Elon and Tesla want to load up more Bitcoin?

They see how Bitcoin can help them richer in a few weeks and they can contribute to bump Bitcoin. This price can be a new entry for them to load up more Bitcoin.

I don't think Elon does not want to have more Bitcoin. 

[passwordnow]

It became to look like a decline because people have seen all time high and have that expectation that it's an everyday sit for the ATH. Whether another manipulation again by Elon and his influencer pals, I don't mind looking at it. This might be the sign that they're about to load up again and just as what they might do. Take the opportunity of buying.

[zasad@]

https://decrypt.co/74094/china-central-bank-calls-broader-crypto-crackdown
China is shutting down miners again.
When they have a surplus of electricity, they will allow mining again and the price of bitcoin will rise again.

The funniest thing is that this comes amid the news as Morgan Stanley, Blockchain Capital and other large US companies invest in cryptocurrency companies.
https://decrypt.co/74117/morgan-stanley-blockchain-capital-lead-48m-investment-crypto-firm-securitize

[terrorJR]

Stop about the impact of Elon Musk and look the other way, that many factors have contributed to the current price decline. Almost all altcoin have fallen victim to this ferocity. What's more, I heard that China has completely shut down the Bitcoin movement, and it's clear that the effect is felt enough to cause a very heavy drop in the price of bitcoin. This looks like it's going to last a long time.

[lixer]

Is it our friend Elon Troll Musk again?

People hardly mention Elon Musk these days, so I don’t think it has anything to do with Elon Musk. But there has been news about the Agricultural Bank of China (ABC) ban on Bitcoin. So, I suppose that’s what has led us to this decline so far. The price is at $32,000 right now. Even the price decline we have experienced before now, a lot of people believed that it was also caused by china after a particular province stopped cryptocurrency mining.

A lot of people believed that that was what caused the price to go down. Now this is another story, seems like china is out to ruin the cryptocurrency market for this year lol. Anyways, after a bull run there is always going to be a bear market.

[crzy]

Is it our friend Elon Troll Musk again?

There’s a lot of FUD and we are on a bear trend so expect the worst price to come and even Elon can’t handle this one anymore. Whales already decided the trend of the market, this is the start of another bear. Hopefully, we can still recover before the year end, it’s time for buying and holding top coins again.

[UnDerDoG81]

2013 China FUD
2014 China FUD
2015 China FUD
2016 China FUD
2017 China FUD
2018 China FUD
2019 China FUD
2020 China FUD
2021 China FUD
202x China FUD

[snipie]

Is it our friend Elon Troll Musk again?

There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.

Indeed the actual "temporarily" decline is related to China, as usual.. From what I read, it is targeting the mining activity in the country. Obviously this isn't the first nor their last move to restrict freedom to access cryptocurrencies..their point is to divert people from it so they can adopt their virtual ¥ easily.
Finally as Danny said, where did you see the decline /#HODL

[STT]

There will be lots of scapegoats but you already know the reason, trades go up and they come back down but the progress of the blockchain the protocol development itself is far slower.   We are living in unique times where the worlds global reserve currency is being blown up while suspended in stasis by 20 year bond terms and such like but it has an influence now in easily raising the price of various assets which is deliberate action by the FED.   The real news is crypto development itself, speculative players should know we ride a rollercoaster and you better love all the curves we get thrown through.

[adaseb]

I don't think its Musk or China FUD or anything like that. I just think that its the people who bought BTC at $19K and at $33K months ago, never took profit who are getting nervous seeing bitcoin at their break-even price and they just click SELL and get out of crypto.

There are tons of sob stories all over crypto twitter and reddit how people bought at $20K or $30K and doubled and trippled their money, they were going to buy a house when it hit $100K and now are watching their profits disappear and its getting closer and closer to their entry price and they are second guessing themselves if they should get out without a loss or stay in. The longer it trades in this range, the more these people will be nervious.

[bitterguy28]

Declines?

June 21, 2013:     $102
June 21, 2014:     $595    (An annual increase of 483%)
June 21, 2016:     $715    (An annual increase of 9.6%)
June 21, 2017:   $2,785   (An annual increase of 289.5%)
June 21, 2018:   $6,785   (An annual increase of 143.6%)
June 21, 2020:   $9,400   (An annual increase of 17.7%)
June 21, 2021:  $31,750  (An annual increase of 237.7%)


What part of that looks like declines?

Good share but it seems that 2016 and 2020 goes too low compared to the other 4?

________________________________________________________________

But yeah Like what said by the first poster there is a issue of banning from Biggest bank in china to prohibit their customer in dealing with crypto and this is the big effect i see in this now.

[Kemarit]

Is it our friend Elon Troll Musk again?

It's the China news again, government closing some bitcoin mining farms, cutting their electricity just to be sure. And probably if we see and hear another Elon's troll the price might go down again. So we can't do anything about it, unless whales are going to pump the price. But we don't want it that way, I mean no artificial pump because it will be followed by an obvious dump. So we might as well wait a bit, when everything settles down, in the next couple of weeks, maybe we might see $40k'ish or something.

[Obito]

There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.

It's not going to last that long, their banks don't reach the whole world, buy now and see for yourself that the prices are going to go up again. China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.

[SquirrelJulietGarden]

It's the China news again, government closing some bitcoin mining farms, cutting their electricity just to be sure. And probably if we see and hear another Elon's troll the price might go down again. So we can't do anything about it, unless whales are going to pump the price. But we don't want it that way, I mean no artificial pump because it will be followed by an obvious dump. So we might as well wait a bit, when everything settles down, in the next couple of weeks, maybe we might see $40k'ish or something.

China is a origin of FUD and people have to familiarize themselves with FUD from China. Many long orders were liquidated and soon you will see Short killing. News to kill short will mostly come from China, not Elon.

There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.

Only time can help us to verify those news but it is too late, when verification has enough time to finish, FUD goes away, and price already dumped to the helll or already recovery too much.

It's not going to last that long, their banks don't reach the whole world, buy now and see for yourself that the prices are going to go up again. China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.

China is a big nation and is a biggest manufacturers of ASIC and many biggest bitcoin mining farms are in China. People are fearful of FUD from China because they think if China cracks down mining there, it would be the end of Bitcoin network, that is not certainly.

[gabbie2010]

It's the China news again, government closing some bitcoin mining farms, cutting their electricity just to be sure. And probably if we see and hear another Elon's troll the price might go down again. So we can't do anything about it, unless whales are going to pump the price. But we don't want it that way, I mean no artificial pump because it will be followed by an obvious dump. So we might as well wait a bit, when everything settles down, in the next couple of weeks, maybe we might see $40k'ish or something.

China is a origin of FUD and people have to familiarize themselves with FUD from China. Many long orders were liquidated and soon you will see Short killing. News to kill short will mostly come from China, not Elon.

There's a rumour it's China this time, apparently one of the biggest banks has stated they will systematically close and report any account that has crypto dealings.
Seems like it's plausible this is the explanation this time, but nobody can be 100% sure.

Only time can help us to verify those news but it is too late, when verification has enough time to finish, FUD goes away, and price already dumped to the helll or already recovery too much.

It's not going to last that long, their banks don't reach the whole world, buy now and see for yourself that the prices are going to go up again. China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.

China is a big nation and is a biggest manufacturers of ASIC and many biggest bitcoin mining farms are in China. People are fearful of FUD from China because they think if China cracks down mining there, it would be the end of Bitcoin network, that is not certainly.

I believed all these measures embarked by the Chinese biggest bank is geared towards the taking off the much purported digital currency and it trials, all the bans, clampdowns on miners, exchanges etc are taken to discourage the use of cryptocurrencies and the government is trying to enforce the use and adoption of their digital currency, link: https://www.google.com/amp/s/www.cnbc.com/amp/2021/06/02/china-digital-currency-beijing-to-hand-out-6point2-million-in-trial.html  however whatever FUD that comes out from China Bitcoin will still survive although the culminated effect often have an instant impact on the price of Bitcoin negatively however their nothing the government can do to put a permanent stop on it usage because it decentralized feature

[leea-1334]

I believed all these measures embarked by the Chinese biggest bank is geared towards the taking off the much purported digital currency and it trials, all the bans, clampdowns on miners, exchanges etc are taken to discourage the use of cryptocurrencies and the government is trying to enforce the use and adoption of their digital currency, link: https://www.google.com/amp/s/www.cnbc.com/amp/2021/06/02/china-digital-currency-beijing-to-hand-out-6point2-million-in-trial.html  however whatever FUD that comes out from China Bitcoin will still survive although the culminated effect often have an instant impact on the price of Bitcoin negatively however their nothing the government can do to put a permanent stop on it usage because it decentralized feature

I think so too,,, but we could be wrong because digital yuan already started trialing even in 2020 already and tests before that in 2019. I think the main reason is not to get rid of competition with digital yuan since that is still needed in the economy, but perhaps more to do with energy use in the country. I know China always says it has surplus energy especially with new dams but perhaps they feel they do not want to feed the miners with cheap power anymore? And I bet you it has something to do with miners not properly reporting.

[lienfaye]

Declines?

June 21, 2013:     $102
June 21, 2014:     $595    (An annual increase of 483%)
June 21, 2016:     $715    (An annual increase of 9.6%)
June 21, 2017:   $2,785   (An annual increase of 289.5%)
June 21, 2018:   $6,785   (An annual increase of 143.6%)
June 21, 2020:   $9,400   (An annual increase of 17.7%)
June 21, 2021:  $31,750  (An annual increase of 237.7%)


What part of that looks like declines?

The past history shows how much increase bitcoin has gain already thus why we are worrying the decline this time?

Anyway maybe the China's crackdown for bitcoin mining is one of the reason why bitcoin (or crypto in general) is declining at this time. But be used to it since crypto is high volatile and this situation is certainly temporary.

[Ararbermas]

Is it our friend Elon Troll Musk again?

nope elon's is probably sleeping right now and the real reason of this decline is CHINA wherein telling all those banks to stop supporting crypto currency and of course weak hands are included, reasons it made an impact in the market and the price swing again, indeed it will not make a huge impact if there's no panic selling in the market when there's such issue occured, but unfortunately most of holders were shaking..

[Obito]

~snip

China is a big nation and is a biggest manufacturers of ASIC and many biggest bitcoin mining farms are in China. People are fearful of FUD from China because they think if China cracks down mining there, it would be the end of Bitcoin network, that is not certainly.

They will be slowly toppled by India, remember that Apple has already moved some of their factories in India and their birth control policies are now backfiring, I think that their market dominance in production, demand and supply isn't going to last that long.

[xSkylarx]

Is it our friend Elon Troll Musk again?

He's been silent since he made the statement about Tesla to stop accepting bitcoin as payment. What I think the reason for this decline recently is because of the fuds from China, like miners there shutting down which we know that a huge percentage are from that country. They often cause these dumps which I don't really know the exact reason for it like they always say that they ban it. If they can't accept it as a digital currency then why they have the biggest mining farm of bitcoin.

[Kong Hey Pakboy]

I am a follower on his Twitter so I would know if he is the cause of this FUD and I think that a lot of users here will pick it up when it happens. I have read some that it's China that's causing the FUD but I don't exactly know what China did though.

[RealMalatesta]

China is a big nation and is a biggest manufacturers of ASIC and many biggest bitcoin mining farms are in China. People are fearful of FUD from China because they think if China cracks down mining there, it would be the end of Bitcoin network, that is not certainly.

They will be slowly toppled by India, remember that Apple has already moved some of their factories in India and their birth control policies are now backfiring, I think that their market dominance in production, demand and supply isn't going to last that long.

China is hurting itself, and I love watching it happen in real time. What they are doing to crypto is not a huge deal because that is just a small portion of what they are earning, but this is the nation that made TRILLIONS of dollars from manufacturing and because they decided that they can do whatever they want and no nation would ever bother to change it, even the capitalists are getting to the end of it.

European nation or USA having unemployment trouble now? Watch in a decade when major places move most of their places from China to other places meanwhile having more and more local manufacturing for smaller stuff and smaller companies, it is going to be so much so that China will beg to manufacture stuff for the "west" and that will keep going until they stop being a bad nation and commit a genocide (which they are doing now) and in order to get those companies back they will have to tone down all the bad stuff they are doing.

[dota2bestplayer]

It is not Musk, but a series of operations by the Chinese government. First, mining was banned, and it was the bank chief who recently suppressed virtual currencies. In his remarks, I think this time the form will not be easily eased.

[Caldear]

China continues to suppress Bitcoin, ban Bitcoin mining, and close mining farms. The Chinese government bans Bitcoin transactions, and FUD from China has a certain impact on the price of Bitcoin. This impact should be temporary. China's repeated attacks on Bitcoin have not been able to defeat Bitcoin's status.

[Kelvinid]

China continues to suppress Bitcoin, ban Bitcoin mining, and close mining farms. The Chinese government bans Bitcoin transactions, and FUD from China has a certain impact on the price of Bitcoin. This impact should be temporary. China's repeated attacks on Bitcoin have not been able to defeat Bitcoin's status.

Isn't China, the banning that they made had a fewer impact but of course, it contributes to the current decline but if we blame them as the main reason, I don't think so. Because if we try to figure out, El Salvador legalizing Bitcoin had also an impact on the trend but unfortunately, we've not seen it much, I mean there are no changes on the trend.

So my answer is, it is a normal market trend. Nothing had caused this decline but it all just how the market supply and demand changing accordingly, IMO.

[ultrloa]

China continues to suppress Bitcoin, ban Bitcoin mining, and close mining farms. The Chinese government bans Bitcoin transactions, and FUD from China has a certain impact on the price of Bitcoin. This impact should be temporary. China's repeated attacks on Bitcoin have not been able to defeat Bitcoin's status.

Isn't China, the banning that they made had a fewer impact but of course, it contributes to the current decline but if we blame them as the main reason, I don't think so. Because if we try to figure out, El Salvador legalizing Bitcoin had also an impact on the trend but unfortunately, we've not seen it much, I mean there are no changes on the trend.

So my answer is, it is a normal market trend. Nothing had caused this decline but it all just how the market supply and demand changing accordingly, IMO.

The Biggest fud I see now is China but actually after it hits the adoption of El salvador stops the possible breakout of BTC that's why after that we see a green light and continuously bitcoin is doing well these days. Although we didn't see much action compare before but what good thing here is bitcoin still doing an outstanding performance for being strong at the current bear  market situation.  I expect it  to pump up sooner but not next month but maybe in succeeding month's of it.

[michellee]

China continues to suppress Bitcoin, ban Bitcoin mining, and close mining farms. The Chinese government bans Bitcoin transactions, and FUD from China has a certain impact on the price of Bitcoin. This impact should be temporary. China's repeated attacks on Bitcoin have not been able to defeat Bitcoin's status.

Yes, it is. First, the tweet from Elon, second, the news from China, and third, the news from Binance. I agree with what you say that it is temporary because we know what happens to bitcoin a long time ago. Even if there are many negative news releases and make bitcoin price drop, it will not stay at that low price forever because the price will be back and will increase. Maybe that can make the price got dumps, but the pump will come after that because bitcoin is strong.

[zanezane]

Probably FUDs, Whales and general constant trading volume in the market. I think that those 3 that have mentioned are probably some of the biggest reasons for the decline and skyrocket of the market.

[DU18]

In my opinion, there are a number of factors that are causing bitcoin prices to weaken today, however, the most powerful factor and greatly influenced the decline in bitcoin prices is the Chinese government's policy that prohibits bitcoin mining activities in the country, in addition, the actions of the People's Bank of China (PBoC) which asked the six largest finance companies in China to identify the perpetrators and immediately stop bitcoin and other crypto transactions, making bitcoin price even weaker today.

[carlfebz2]

Is it our friend Elon Troll Musk again?

We dont need Friends nor Someone to rely on because market can stand alone independently without the help or support of those and talking about decline? then it cant be called a market if we do just

see continuous upward movement when it comes to price.External news or fundamentals could really give off some effect but doesnt mean that most of the time it would be.

When you do  set on your feet on this market then you should really prepare yourself when it comes to unexpected turn of events or even the price do move without any reason at all.

Fundamentals or events cant just give movement from time to time, most of it arent really making any effect at all.

[SquallLeonhart]

China continues to suppress Bitcoin, ban Bitcoin mining, and close mining farms. The Chinese government bans Bitcoin transactions, and FUD from China has a certain impact on the price of Bitcoin. This impact should be temporary. China's repeated attacks on Bitcoin have not been able to defeat Bitcoin's status.

Isn't China, the banning that they made had a fewer impact but of course, it contributes to the current decline but if we blame them as the main reason, I don't think so. Because if we try to figure out, El Salvador legalizing Bitcoin had also an impact on the trend but unfortunately, we've not seen it much, I mean there are no changes on the trend.

So my answer is, it is a normal market trend. Nothing had caused this decline but it all just how the market supply and demand changing accordingly, IMO.

China and El Salvador are not nearly remotely same level of nations. China literally has over a trillion dollars, A TRILLION DOLLARS worth of USA bonds because American companies kept making debts in china and said they will pay later, whereas El Salvador is such a nation that me living only decently (which I am very happy about) in my nation of third world country could move to El Salvador and become one of the rich people there, that is a very poor nation.

I am not saying that the decline was because of China, we can never know that because decline only happens when people sell and we are not going out there and asking people why they sold, so we can never know. However I also wanted to make sure that the news between china banning miners and the El Salvador news are not the same level of impact because the nations are nowhere near the same level of economy and power.

[ILuckyGuyI]

He also had an affect on the market. But I can't say that he was the only factor. By the way, he can't manipulate the market too much anymore. And it's really good to see. If we go back to the main topic, countries like China also affect the price with their actions. Their decisions on Bitcoin mining and cryptocurrency usage have affected the market.

[Fatunad]

He also had an affect on the market. But I can't say that he was the only factor. By the way, he can't manipulate the market too much anymore. And it's really good to see. If we go back to the main topic, countries like China also affect the price with their actions. Their decisions on Bitcoin mining and cryptocurrency usage have affected the market.

Whenever there are sentiments like these that do pop out in the market then its neither it would give out some significant effects or would simply just not making any actions at all.
We can presume that a particular situation might the cause but not precisely that it would really be on behind but as an investor or trader then these situations or informations
would be useful but not could really give out guarantee for your advantage but its better to know on whats happening around the market rather than making
out blind trades or investment without knowing or aware of something.

[decodx]

Probably a combination of several factors, but the biggest factor driving the price of Bitcoin is speculation. Bitcoin is down in response to more reasonable fears surrounding China's situation. China is one of the biggest users of Bitcoin and as a large user, they tend to be the first to exit the market when something is on the radar. People in China who want to move their money out of the country tend to do so through Bitcoin, which may also be related.

[Tina H]

It's not just Musk. Any economic and financial events may have an impact. I know that the recent policy that the People's Bank of China should make is aimed at virtual currencies, which obviously has a great impact on the market.

[Keila Faith Villanueva]

I am a follower on his Twitter so I would know if he is the cause of this FUD and I think that a lot of users here will pick it up when it happens. I have read some that it's China that's causing the FUD but I don't exactly know what China did though.

The deputy governor of the People's Bank of China emphasized the need to crack down on virtual currencies and take some measures, mainly referring to Bitcoin. It is also emphasized that these currencies themselves have become a speculative tool. When this happens in the market, there are also potential risks that threaten financial security and social stability.

[Obito]

~snip

China is hurting itself, and I love watching it happen in real time. What they are doing to crypto is not a huge deal because that is just a small portion of what they are earning, but this is the nation that made TRILLIONS of dollars from manufacturing and because they decided that they can do whatever they want and no nation would ever bother to change it, even the capitalists are getting to the end of it.

European nation or USA having unemployment trouble now? Watch in a decade when major places move most of their places from China to other places meanwhile having more and more local manufacturing for smaller stuff and smaller companies, it is going to be so much so that China will beg to manufacture stuff for the "west" and that will keep going until they stop being a bad nation and commit a genocide (which they are doing now) and in order to get those companies back they will have to tone down all the bad stuff they are doing.

I wouldn't per se say that they are hurting themselves because I believe that bitcoin is just one or two aspect of their economy meaning that even if they were to abandon it, it won't make too much of a dent since there's a lot of other ways that they can reliably make money out of. I don't necessarily agree with your take on the time that China will lose the production power but I think that if they can serve all of Asia, it won't matter because that means that they will still have customers even if the west does some sort of embargo.

[Chato1977]

Is it our friend Elon Troll Musk again?

So what can be done by this one now? do you really wanted to boost his foolishness often ?

Why not leave him alone and lets back to reality of life?

just because the price is dumping this means Elon is here again , the market is only having correction to what is the real price aside from the manipulation and Hype provided by the whales.

[Nora Olin]

I don’t think it’s Musk again. After Musk’s previous tweets, I think most people don’t trust Musk anymore. For example, I canceled and ignored the related message he sent. Recently, I learned that China has been suppressing Bitcoin, Bitcoin is beyond their control, and China has its own national currency, so China has been launching policies to suppress virtual currencies.

[Shasha80]

I don’t think it’s Musk again. After Musk’s previous tweets, I think most people don’t trust Musk anymore. For example, I canceled and ignored the related message he sent. Recently, I learned that China has been suppressing Bitcoin, Bitcoin is beyond their control, and China has its own national currency, so China has been launching policies to suppress virtual currencies.

Now that Elon Musk has lost investors confidence, so whatever Elon Musk writes on twitter doesn't have as big an impact as it did before.
So the current market decline is probably not because of Elon Musk, but related to the crypto situation in China. Which is where the Chinese
government banned cryptocurrencies again, because we know that in China there are a lot of mining farms and also many big investors from China.
Moreover, China is focused on making digital Yuan so that the entire population can use it. This has brought the market down quite a bit, but I believe
the crypto market will recover soon, we just need to be patient and wait.

[Hypnosis00]

I don’t think it’s Musk again. After Musk’s previous tweets, I think most people don’t trust Musk anymore. For example, I canceled and ignored the related message he sent. Recently, I learned that China has been suppressing Bitcoin, Bitcoin is beyond their control, and China has its own national currency, so China has been launching policies to suppress virtual currencies.

Now that Elon Musk has lost investors confidence, so whatever Elon Musk writes on twitter doesn't have as big an impact as it did before.
So the current market decline is probably not because of Elon Musk, but related to the crypto situation in China. Which is where the Chinese
government banned cryptocurrencies again, because we know that in China there are a lot of mining farms and also many big investors from China.
Moreover, China is focused on making digital Yuan so that the entire population can use it. This has brought the market down quite a bit, but I believe
the crypto market will recover soon, we just need to be patient and wait.

It was a few weeks that China had ban crypto mining but the decline has just shown these days and probably they are not the main reason for this. It is hard to find the cause of the decline, yet, this is not a big surprise, we are to expect that this will going to happen. Furthermore, the market is still healthy despite the current decline, $31k is still high for me, we are too far from the previous bear season.

I certainly not looking for a huge decline this year, this is just temporary, recoveries had come next but still, we need to extend our patience.

[Expecto]

I don't think that it is Elon Musk causing this decline this time. Because it doesn't seem like he has a really big manipulation power anymore. And it's a really good news for all of the investors. I think the reason is that people have started selling more than buying. And this hinders the prices to go up.

[LogitechMouse]

Is it our friend Elon Troll Musk again?

Nope and I don't think that Elon Musk's tweets can have a huge impact again on the market.
Its not the same as where he is months ago where a single positive tweet of him can put the market up double digits in one day.

Its China and I think the news about Grayscale is also one of the reason why the market is declining these past few days. Either way, see this as an opportunity to buy if you have spare money to use . Forget about Elon S*it already. He is done. Nobody or only few will follow him after what he did last months ago.

[erep]

China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.

China as the largest contributor of FUDs from year to year, the ban on FUD mining has a direct impact on the largest mining community in China. But, will FUD from China in the future no longer have an impact on the market crash because the crypto community is fed up with all that?

[TravelMug]

China has always been a big contributor to FUDs but there's no long lasting effects that have been felt right now.

China as the largest contributor of FUDs from year to year, the ban on FUD mining has a direct impact on the largest mining community in China. But, will FUD from China in the future no longer have an impact on the market crash because the crypto community is fed up with all that?

China FUD news is over in my opinion. What causes the decline for me is pure manipulation by whales and by speculators. They are obviously shorting BTC at this time.

Just observed the price, when we are about to have a breakout to $35k and higher, the price suddenly will go down again for unknown reasons. So some big players from behind are working on their magic. We might say that the bears are in control, but these boys are changing the rules for now. Shorting and making good to decent money and then repeats the process.

[Gozie51]

It's not just Musk. Any economic and financial events may have an impact. I know that the recent policy that the People's Bank of China should make is aimed at virtual currencies, which obviously has a great impact on the market.

But we should be hopeful that as China is making laws against it some countries are beginning to adopt cryptocurrency like Vietnam, El Salvador . This will help to bring the price up again because of demand to covert Fiat go btc and hodl.

[Saisher]

Is it our friend Elon Troll Musk again?

He is one of the causes, it happens when he announced that he will not use Bitcoin anymore on his Tesla company because of his so-called energy issue, China is also one of them, these are just two of the biggest issue that haunts the market, for two months now, but even if the market is moving at least it is stabilize in a price that is much higher than last year.

[mrjoy15]

Like someone said it’s a summer sale, so Bitcoin market is going down. Large institutions are crashing the market because they missed out on BTC. Because of crashing people are afraid too, this is what it supposed to happen. It is normal. Seems like Big investors doesn’t trust Bitcoin anymore, that's the problem or the high volatility! If whales manipulating market, then Its time to buy.

[Hippocrypto]

Is it our friend Elon Troll Musk again?

No it's him but those fud around us which kept playing and manipulating the market situation. Whales is now taking over with the current price volatility, and as they pushed towards their target; small investors suffered the most with emotional side when market got red days. Market recovery has no proper and accurate projections which couldn't coincide on our perspectives.

[Pamadar]

Is it our friend Elon Troll Musk again?

No it's him but those fud around us which kept playing and manipulating the market situation. Whales is now taking over with the current price volatility, and as they pushed towards their target; small investors suffered the most with emotional side when market got red days. Market recovery has no proper and accurate projections which couldn't coincide on our perspectives.

Tough call during this kind of situation, as in any moment whales can change the directions,

Poor small players always suffered, having a wrong perceptions and mistakenly decide from this market movement,
Better to go for long instead of allowing yourself investment to lose, or if you have good knowledge, you can keep buying
the dip and try to sell when some bounce take place, cutting your previous losses but still keeping your other holdings.

[Jating]

It's not just Musk. Any economic and financial events may have an impact. I know that the recent policy that the People's Bank of China should make is aimed at virtual currencies, which obviously has a great impact on the market.

But we should be hopeful that as China is making laws against it some countries are beginning to adopt cryptocurrency like Vietnam, El Salvador . This will help to bring the price up again because of demand to covert Fiat go btc and hodl.

China is a different story, they have been FUD'ing the bitcoin market since 2017.

While the latest new of El Salvador is really very welcoming for all of us.

Elon Musk is irrelevant now, he has no longer have that influence like he did in the beginning.

The latest is that about the GBTC unlocking today if I'm not mistaken, but that news seems to have only a little effect on the price. Lows of $30k has been seen, but we have recovered.

[Shasha80]

Now that Elon Musk has lost investors confidence, so whatever Elon Musk writes on twitter doesn't have as big an impact as it did before.
So the current market decline is probably not because of Elon Musk, but related to the crypto situation in China. Which is where the Chinese
government banned cryptocurrencies again, because we know that in China there are a lot of mining farms and also many big investors from China.
Moreover, China is focused on making digital Yuan so that the entire population can use it. This has brought the market down quite a bit, but I believe
the crypto market will recover soon, we just need to be patient and wait.

It was a few weeks that China had ban crypto mining but the decline has just shown these days and probably they are not the main reason for this. It is hard to find the cause of the decline, yet, this is not a big surprise, we are to expect that this will going to happen. Furthermore, the market is still healthy despite the current decline, $31k is still high for me, we are too far from the previous bear season.

I certainly not looking for a huge decline this year, this is just temporary, recoveries had come next but still, we need to extend our patience.

What you say is quite reasonable, if I think again that China has banned crypto, it has happened a few weeks ago. But over the past few days
the Bitcoin price has dropped to $31k, although it's actually not that far off and Bitcoin is still above $30k. So there's no need to panic
because as long as the Bitcoin price doesn't drop below $30k, the Bitcoin price is actually still high. It's true that it's hard to find the cause of
Bitcoin's decline, because I haven't heard of any bad news other than China banned crypto. There is a possibility that this is a manipulation
by whales to make investors panic. so that whales can buy Bitcoin at a low price. Therefore in the current situation we must be patient holding
the Bitcoins we have, because I also believe this Bitcoin price decline is only temporary and there is still a possibility this year Bitcoin will be
bullish again.

[justdimin]

Is it our friend Elon Troll Musk again?

Nope and I don't think that Elon Musk's tweets can have a huge impact again on the market.
Its not the same as where he is months ago where a single positive tweet of him can put the market up double digits in one day.

Its China and I think the news about Grayscale is also one of the reason why the market is declining these past few days. Either way, see this as an opportunity to buy if you have spare money to use . Forget about Elon S*it already. He is done. Nobody or only few will follow him after what he did last months ago.

I agree that China is a much much bigger news than Elon not being happy about bitcoin, because China miners closing up the machines is a big deal and that is why I honestly believe that there is a good amount of drop the price.

Everyone has a reason why the price dropped, I do not know why the price really dropped maybe I am wrong about it and maybe someone else would be willing to actually say the real reason, anyone can be right but I believe China is the biggest reason. Of course it is not going to be easy to recover but I also agree that we are doing amazing right now, doesn't matter how the price dropped as long as it is dropped then I would say that it is a great thing because we can buy more and more and that will allow us to actually make a profit. So long story short we are going to end up with a good amount of bitcoin when it is low and that is the important thing here.

[Hamphser]

Is it our friend Elon Troll Musk again?

Nope and I don't think that Elon Musk's tweets can have a huge impact again on the market.
Its not the same as where he is months ago where a single positive tweet of him can put the market up double digits in one day.

Its China and I think the news about Grayscale is also one of the reason why the market is declining these past few days. Either way, see this as an opportunity to buy if you have spare money to use . Forget about Elon S*it already. He is done. Nobody or only few will follow him after what he did last months ago.

I agree that China is a much much bigger news than Elon not being happy about bitcoin, because China miners closing up the machines is a big deal and that is why I honestly believe that there is a good amount of drop the price.

Everyone has a reason why the price dropped, I do not know why the price really dropped maybe I am wrong about it and maybe someone else would be willing to actually say the real reason, anyone can be right but I believe China is the biggest reason. Of course it is not going to be easy to recover but I also agree that we are doing amazing right now, doesn't matter how the price dropped as long as it is dropped then I would say that it is a great thing because we can buy more and more and that will allow us to actually make a profit. So long story short we are going to end up with a good amount of bitcoin when it is low and that is the important thing here.

Everything does have a reason but there would be no precise point on whats actually is happening but basing of with sentiments or news then you can really tell that it might be possibly the reason.

Market is really too unpredictable where lots of events that could happen without us even knowing and even if we do then there's nothing we can do about it.

When you do deal or tend to make out investment or trade then you should at least be wary on how things or possible situations that you might faced of.

[Clavulanic]

Is it our friend Elon Troll Musk again?

Most probably this guy contributed to huge dump of btc price as well as other cryptocurrency coins, that suffered a lot of times drowning so bad. Though there's no certain fact about the truth, but it was just an ideas which is closer to reality because of his wealth and huge influence. Many people followed him through his success, and maybe this is a serious issues that most people have been fascinated specially on Elon Musk twitts.

[fullhdpixel]

China is a different story, they have been FUD'ing the bitcoin market since 2017.

While the latest new of El Salvador is really very welcoming for all of us.

Elon Musk is irrelevant now, he has no longer have that influence like he did in the beginning.

The latest is that about the GBTC unlocking today if I'm not mistaken, but that news seems to have only a little effect on the price. Lows of $30k has been seen, but we have recovered.

They have always done it, but somehow they still.... do it? I mean think about it, we have heard about crypto being something not liked by Chinese government for over 4 years now, they have been saying this all the time and they "banned" bitcoin many many times. I do not know what they are banning, but at the at the end of the day they are still banning like once every year for some reason, when something is banned that is banned and stays banned until you let it be, what are they doing banning it then make it legal and then ban it again?

I agree with the twitter phenoms though, we should not be focusing on them having any power, stop with giving power to those people because they will take it and use it for their own personal gain without caring about anyone else, that is not going to be something beneficial to any of us so we should ignore him.

[carlfebz2]

Is it our friend Elon Troll Musk again?

Most probably this guy contributed to huge dump of btc price as well as other cryptocurrency coins, that suffered a lot of times drowning so bad. Though there's no certain fact about the truth, but it was just an ideas which is closer to reality because of his wealth and huge influence. Many people followed him through his success, and maybe this is a serious issues that most people have been fascinated specially on Elon Musk twitts.

This might not be talking directly with Bitcoin but rather with dogecoin where it did jump 10% after a profile pic change? WTF.
https://www.businessinsider.in/cryptocurrency/news/dogecoin-jumps-10-after-elon-musks-twitter-profile-picture-change/articleshow/84544778.cms

When it comes to fundamentals or news then this would be a good spot to look on
https://www.cnbc.com/2021/07/19/crypto-roundup-square-bitcoin-defi-business-elon-musk-dogecoin-tweets.html

[Quintrix]

Is it our friend Elon Troll Musk again?

Your guess is as good as mine yes is part of why the market is going down and it started it on a series of tweets on Dogecoin shilling it and creating a FUD on Bitcoin, it's ok for anyone or an influencer to shill any coin but not on the expense of creating FUD on Bitcoin, and being a billionaire and a top dog in the investment industry he suceeded.