Anything particular causing these declines?

[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.