I still do not get why that drop happened. I mean the only "bad" thing that has recently happened is the fact that Tesla doesn't accept bitcoin, that is not too bad is it? I mean how many people did actually went with that? Surely some did but I doubt it was a huge number, and they even said that they are still supporting crypto, they are just not accepting bitcoin which is another way of saying "we can't legally keep accepting bitcoin" and nothing more, if they didn't like bitcoin they would have sold their purchased ones as well.
Long story short this dropped never made sense, but I am quite happy about it, this allows us the long term holders to keep buying more and then we can sell when our portfolio reaches a level where we feel like we do not need any more money, that is a quite good investment situation to be in, buy low and sell high.
some people panic even with this simple tweet. most of them are newbies that bought bitcoin at a high price. but for those who are here long enough to see the market movement, this will be a good opportunity to buy more and be ready for the next bull run.
but this level - $48 to 50k is still very good price for btc. if you look back, we never had this price in previous years, only this year. so we can't say that we are already in bear season if we compare the market today from previous years. the support above 40k is still strong. Elon will not destroy the btc market with those tweets. anyway, they are still keeping btc, it is not that they are selling their btc stash.