Topic: Don't blame Elon musk and China for the dip!!!!!!! - page 3. (Read 862 times)
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
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.
To look at the top 100 coins on coingecko, you can clearly see that most of the charts are almost identical.
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.
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.
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.
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.
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 appreciatedRemember, 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.
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. 
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.
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.
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.
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.
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.
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.
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.
There is an idiom in Turkey "do not get into the well with someone else's rope". At least how high could Elon Musk take the price high? It was obvious that similar actions would come not only from China but also from other countries. As a result, this dump was inevitable and its happen. It was a lesson and some of us learned it sadly and expensively.
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 don't think the market is correcting it self. Forget the over bought normally is okay for the dump, but look.at this last dump it's unlike any other dump this year.They is something more to this dump
The tweets from elon must really affected the price of btc and meanwhile, btc was also bring the price of other coins with it and China have more volume of trade and they dumped btc so how do you think it won't dump.
maybe, people need something to be pointed. so, they just point their muzzle to that thing. we need to be grateful about what happen if it can make breakthrough in different mean. all of them, its about how people act if incident come pass this place.
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.
Did you think the fundamental didn't give impact to the market? The fact that if these days technical analyzation means nothing when it was facing a very bad news like china was banning crypto from its country.
The cryptocurrency market operates on the trust of investors in the project of their choice.
Such investors are easily manipulated and manipulated by the media
Elon musk tweets and the ban on cryptocurrency in China are the biggest triggers for the decline in the crypto market today, if not for these 2 reasons maybe the cryptocurrency market will continue to increase and the bull run will still be long for the next few months.
I definitely agree with it. We can't just say that these incidents didn't affect the dump. It'd not be very sensible. Because as we all know, this market is highly manipulable. We've seen so many examples about it.
People who are behind this market rely with news and what happened here now it really affects the decision making
of many traders and investors, this two negative news about the current situation really makes an statement to most
traders, market moves negatively bringing the value to fall more.
Now this discussion is something new after long time in the blame game. Well, to portray my opinion I would say that they are 50-50 holders for this blame. Let's agree that the dip was right after the tweet and news that came out one after another. So we can not fully deny the fact that crypto dump was not because of these both entities.
But on serious note, Elon musk really trying hard to bring the DOGE up and use it as payment because its cheap and unlimited in supply.
He know that if he keep pushing bitcoin then it will become so costly that people won't be able to buy bitcoin in the first place then how could you expect them to buy Tesla with the Bitcoin?
I believe that is the reason he is behind DOGE.
But in the process crypto world shook by his decision and dumped itself without knowing the long lasting future plan behind it.
But on serious note, Elon musk really trying hard to bring the DOGE up and use it as payment because its cheap and unlimited in supply.
He know that if he keep pushing bitcoin then it will become so costly that people won't be able to buy bitcoin in the first place then how could you expect them to buy Tesla with the Bitcoin?
I believe that is the reason he is behind DOGE.
But in the process crypto world shook by his decision and dumped itself without knowing the long lasting future plan behind it.
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