In an odd way, it’s actually a bit of a relief when I see the prices fall this much to learn that the reason behind it was something as irrelevant as it was in this case. Surely, when roughly $400bn of the crypto market cap seemingly evaporates in a few hours, something really bad must have happened? Right?
Well, appartently not.
Musk tweeting and Binance being investigated.
In case you’re living in a cave or is a part of the Hive community (usually as much of an isolated bubble), the price of Bitcoin fell soon after Musk tweeted that Tesla would stop accepting Bitcoin as payment for their vehicles.
Additionally, the price went down another $2,500 today after Bloomberg reported that Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths.
Of course, neither of these events are big in the grand scheme of things. Crypto currencies still provide the same solutions to many of the bigger problems in the world, and are still seeing the same rates of development and use.
So if the conclusion is that the dip was caused by irrelevant news, then almost by definition it should be a decent opportunity to buy provided we believe that Bitcoin and crypto was otherwise heading in a positive direction.
Did you buy the dip today?
Update: Elon Musk has since added another tweet to provide some small clarifications while stating his bullish view on crypto. So let's see if it brings the bulls back in the game as well.
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Picked up a few HIVE over the past few days oh yes.
I like it! HIVE Five!
For Hive? All the time, lol.
I think Elon was just trying to create the dip to buy more.
Awesome!
It's hard to know what motivates Elon, haha.
I don't even see the dips anymore, I just see 5% off, 10% off and 25% off. Of course I bought in the dip.
That's the best mindset to have imo! Congratulations on picking up more coins then :)
3 times. Just tiny amounts but I couldn't resist. 😁
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Cool! All BTC? Or different tokens?
All BTC at the moment.
I haven't decided what else to buy yet but I've started looking into other tokens. I want to focus on longer term, lower risk coins that can bring me a decent return from staking as I'm most interested in creating passive income rather than quick capital.
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It's time to get some extra Hive.
Hell yeah!
I still feel like the dip has further to go but I did pick up some BNB to make some cub trades here in the near future.
It could very well go down a bit more. But I suspect there are quite a lot of people looking to get in as well that will be picking up what they can every time there's a dip for silly reasons like these.
There will always be dips and controversies, some Elon fans bought BTC because of him and not because they know anything about crypto. It's normal for things like this to create FUD, plus the bull market might not be over (I guess), but then only the strong hands will hodl and as for binance we all know they'll get out of it.
Well said. I think the bottom line is that these are all stories that most will have forgotten about in a month.
Exactly, they'll just be pretty forgotten by all means. It's a seasonal thing that wouldn't last really long
People say Elon is funny, but I think the funny ones are the people. Even Tesla said they ain’t selling their Bitcoin but people went ahead to sell,. Lol
I don't think the fear was avout Tesla selling. But more a fear that this will cause a halt in further Bitcoin adoption when a company like Tesla puts fourth reasons why they don't want to allow purchases with Bitcoin.
Lets just relax and buy the dip 😉 !BEER
Always!
Wow! At this point buying Bitcoin will be good since it's has drop, one thing is for sure because in a bit the price will double
The minute Musk speaks, weak hands shake and crypto
will drop. It could be the same hands that hold #doge.
On the other side of the situation Binance case prove
the whole market is connected. Gladly crypto provides
blockchains where all transactions can be connected to
an address.
Price will rebound surely.
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These dips are quite common in crypto and it will bounce. The sad thing is that one tweet from a big influencer is moving the markets up and down like crazy.
Anyway, thanks to ELON for the crypto sale. 🚀
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I've heard he's fitting all his Tesla cars with chips which detect whether buyers use solar energy in their homes to charge them.
If they have regular fossil fuel energy sources apparently the cars will lock until such time as they send in evidence of their having switched to renewables, or failing that swear fealty to Elon, the one true Lord of the universe.
Where did you hear that? I would be willing to bet my entire HIVE holding that they would never do such a thing.
Oh well you'd be right, only joking!
It was kind of me trying to make a mockery of Elon's 'environmental conscience' - you know, the guy who sources eco-friendly space ship fuel.
under Michael sailors post he writes bitcoin is mostly made by green energy ( or something similar).
So that would not be the problem. Troll or regulators call him to don't use BTC :)
As Dogecoin falls, I'm definitely going to continue buying the dip.
That can be a great opportunity for other bulls to enter the cryptocurrency business as you say friend. The good thing is that for us the little ones we can bet on the crypto of our confidence and hope that the market will be on the rise again to obtain very good benefits.
Elon Musk is a piece of shit.
The fact he's still greedy, despite being the world's richestt man speaks for itself.
He's the exact reason why I dedicated the last 3 years of my time learning and living crypto.
It's hard to know if he's doing it to enrich himself, or if there were pressure from Tesla shareholders to take a climate-friendly stance. After all, their company has mostly grown by building a global community of evangelists who will buy, support and promote their products not only because they like them, but because they believe it's a greater cause to move towards a lower emission / more electric future.
I still have a lot of respect for Elon's accomplishments. But like a great actor who ends up saying something stupid about politics, he should be less bombastic in his statements on topics outside of his expertice.
Ahhh... bought when it was higher ! Don't have more to spend. It seems good time to buy though.
Yep and have bought some decent buys so far. Was hoping for another dip over the next week as I need more alt coins lol.
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yep :)
"The biggest challenge is not to buy B to the C now"!