Quote from: Argoo on May 13, 2021, 07:00:20 PM

Quote from: Ultegra134 on May 13, 2021, 11:05:59 AM

Quote from: mrquackquack on May 13, 2021, 10:52:29 AM

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

You can blame Elon Musk for trolling the entire crypto community and the whole market for the sudden crash. He announced that Tesla will no longer accept Bitcoin payments because according to Musk, cryptocurrencies are hurting the environment. Moreover, environmentalists were claiming that Bitcoin mining was taking a large toll on electricity, which is solely based on fossil fuels, especially coal, and were against Tesla's option to receive Bitcoin payments.

What an irony, the large scale of battery production isn't that environmentally friendly either, but no one is commenting on that.

This is indeed the case. It seems that this time Elon Musk provoked a general decline in the cryptocurrency market with this statement. Usually, such negative news affects the market for several days, after which the cryptocurrency recovers in price. Prices are already starting to rise, but there is great volatility. I see that even the price of some tokens is jumping like crazy. I think that soon everything will return to normal and the market will continue to grow.

It is time for the market to mature then because it should not be possible for a single person to move the whole market like that.Good to se it is on its way to full recovery. Hopefully we will have some new all time highs with a lot of excitement.