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.