Are you an Elon Musk fan? Why we don't blame Elon Musk and China? I think it is our right to blame them since what they did really bring a bad impact on the crypto market. We saw the crypto market experienced a huge correction, many crypto prices decreased significantly till today. I don't want to forgive them, the impacts almost make me lost more than 50% of my crypto assets.
Topic: Don't blame Elon musk and China for the dip!!!!!!! - page 5. (Read 862 times)
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.
Do you really expect that there's no one had been affected on such dip? Of course its part of human nature on getting frustrated and finding out someone on whose the cause of the problem.Blaming would be always next in line because this isn't something that we can just ignore specially if we lost money in our investment.We would find out the cause and whine up and blame
out into those who are responsible on such event.Somehow there's nothing we can do if things had already been done.
When bear market plans to occur few things like Panic sell off will surely happened, this same thing took place in 2018 too and slowly the market start collapsing, to me it's time we should start planning for bear season cos bull season never stays longer
I think that you must remember that if in 2018 crypto has been getting some bad news like the ban from the government and various thing. That can be the reason why people are leaving the market because they are feeling if that will be disaster to hodl crypto asset consider more and more ban will be coming to the crypto. The correction is a must but we can't deny that the pressure from elon and news from china were so big.
It is not as simple as this about Elon. Many people blame him because of what he is doing to crypto, likely a playmaker and want to be aknowledged?
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow. And it is not about the chart only and not about the overload bla bla bla......
However, actually everytime we are talking about him, he may be very very super happy being acknowledged again.
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow. And it is not about the chart only and not about the overload bla bla bla......
However, actually everytime we are talking about him, he may be very very super happy being acknowledged again.
We can't deny the fact that it seems crypto market has really influenced by him. Considering that this market has been here more than a decade, and Elon just recently joined the crypto market. I guess, it will calm down once he also stops tweeting about crypto-related matters. But good or bad publicity, some people especially his followers may got their interest into checking out crypto. But when it comes to decision towards your portfolio, better do it on your own research and not rely from someone's opinion.
Two events are just excused to lower prices and people believe in to blame. The truth is we've seen growth for a long time. Any growth needs a correction to continue to rise so I'm not surprised that Bitcoin has dropped to such a terrible extent. I believe that the main beneficiaries are the sharks and whales because they are the ones who control the market.
Yet many people are pointing to bad news as a reason to sell or dump their coins, we cannot stop these weak hands from dumping their hands and very quick to point our negative news as reasons why they are selling their shares only to regret later, stop following manipulators do your own research it's their way to manipulate the market so you can dump your shares and buy it.
It is not as simple as this about Elon. Many people blame him because of what he is doing to crypto, likely a playmaker and want to be aknowledged?
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow. And it is not about the chart only and not about the overload bla bla bla......
However, actually everytime we are talking about him, he may be very very super happy being acknowledged again.
We can see s many people are triggered by tje negative news and also by certain public figure or popular crypto to follow. And it is not about the chart only and not about the overload bla bla bla......
However, actually everytime we are talking about him, he may be very very super happy being acknowledged again.
The dip in price on the crypto market was always going to happen sooner or later, because the bullish market moves were so strong that the market was already at overbought prices and the Retracement if price was always going to happen at some point.
The FUD caused by Elon's BTC tweet and the China news only made the dip more rapid, but that was not solely their fault
The FUD caused by Elon's BTC tweet and the China news only made the dip more rapid, but that was not solely their fault
I can't agree more, yesterday when the market was dumping hard I saw so many people tweeting hate speeches about Elon Musk and how he made them loose their money, some were saying they invested so much on crypto and now with the dump their money in dollars have reduced alot, we can't blame Elon for the whole dump on the market, noobs and weak hands panic sold in fear, the market was due for a bug correction and we have gotten that now, now let's see if the bullrun will still go on or not.
We cannot get anything just by blaming elon musk and china. these dips are inherent in the market. now the market is showing its own normal movements. There shouldn't be anyone here that we can definitely blame. and these dips are what should happen for healthier spikes. It is something that anyone interested in cryptocurrencies knows. the market is correcting itself, but what we hope is that this correction does not take too long.
Many people will disagree with what you said but this is the simple truth whether we like it or not.Bitcoin chart form a triple top structure with three divergences indicating that it has reached it's overbought level and will have to go for corrections.Then Elon musk news that tesla will stop accepting Bitcoin and China announcement which worsened the situation causing this dip in the cryto-market.
I get the point you are trying to make here. But you need to understand that he led most people on, and they sheepishly followed him. So when he turned and said what he said then the market dumped after. They will rightfully blame him for it.
He’s using his influence to hype a project, but those who follow his tweets every time can’t totally blame Elon because he is not forcing anyone to buy, we choose to buy because we believe on his hype. Anyway, its not new to China to always banned Cryptocurrency and I don’t think this is the main reason of the dump but looking at the monthly chart, bitcoin really on a point of overbought, that’s why correction happened.
I get the point you are trying to make here. But you need to understand that he led most people on, and they sheepishly followed him. So when he turned and said what he said then the market dumped after. They will rightfully blame him for it.
Elon plays a huge role in the dump bro, maybe till now btc price will still be within 52k and above but Elon had to open his mouth or his hand whatever to make such announcements, there is no need trying to defend Elon, he is partly responsible because he has many followers and should be aware of the consequences your tweet will cause.
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.
They have something to do with the market. We don't have to blame them but we just have to react accordingly. That's why most of the people are worrying because they're saying that this market can be manipulated by them. But even so, we've stayed for a longer time in the bull run.Compare 2017-2018 bull run and as well as 2020-2021. The latter was quite longer and that is to be expected that it should start to drop.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
I totally agree with you mate, I've always been of this same opinion, but most people tend to focus on Elon musk, most even went as far as calling him names blaming him to the market crash.
The thing is almost every one was expecting bitcoin to reach $100,000 usd before any major correction happens, they all forgot the market does not work like that, this correction have been there, waiting for someone or something to trigger it, Elon happened to be the one who did trigger the correction, and since most people don't actually know what a correction is, they blame Elon, calling him names for being the mastermind behind the market crash.
The thing is almost every one was expecting bitcoin to reach $100,000 usd before any major correction happens, they all forgot the market does not work like that, this correction have been there, waiting for someone or something to trigger it, Elon happened to be the one who did trigger the correction, and since most people don't actually know what a correction is, they blame Elon, calling him names for being the mastermind behind the market crash.
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 point is correct but their is somewhat effect of Elon musk's tweets and Somewhat effect of China ban on Market. If China have not banned than many people have been still holding their crypto.
These people manipulate everything to gain profit, so I think they have something to do with the dip, they will need to do that to get the lowest price possible then make a statement to pump the coin, it been what known people do in the business world of trading, and it will not be stopped, as long as there are people who believe in them and do what they say, but still, we have the last say, people should balance their own decision with the statement of these rich guys.
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 point is correct but their is somewhat effect of Elon musk's tweets and Somewhat effect of China ban on Market. If China have not banned than many people have been still holding their crypto.
Elon Musk have a part in the reason why there is huge dip in the market but I don't blame him still, I blame those who trust a human being like themselves so much that they hold on to the coin he chills on the web, we are all here to make money and they should understand what profit taking means
Bear is just around the corner, this correction is common if you’re crypto space for years. Bull season has limitations and we should always prepare ourselves for the worsts cases because there are still a lot of obstacles that might happen again in coming months or year.
Jump to: