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.
I think this happened for a number of reasons but mainly because of the tweet Elon made recently about not accepting Bitcoins. The crypto market is now held strong by a lot of new investors and unlike earlier, now the non-crypto community leaders like Elon do influence our market. Other reasons might be as always a big and strong bull run is always followed by a minor bear run so nothing much to be worried about. Big whales like Elon are playing and a small investor like us as a community should just hold and stay away from trading until the market becomes stable again.
Not sure why suddenly Elon is trying to manipulate the whole market because he first said tesla purchase BTC worth 1 Billion and surely he knew how BTC is mined and then he said Tesla even accepts Bitcoins and then he went ahead and started promoting dogecoin with no real explanation and now he is trying to dump the market, these moves look very fishy, to say the least.