Quote from: pixie85 on Today at 09:27:10 PM

Quote from: Permonik on May 16, 2021, 08:40:41 PM

Quote from: pixie85 on May 16, 2021, 06:53:30 PM

Quote from: teck28 on May 16, 2021, 01:21:55 PM

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I think that Tesla already sold bitcoins.

But what I do not understand is why is the price is affected so much by his tweets. Who cares if Tesla stops BTC payments? How many cars they already sold for BTC? 10? 15? Or less?

This is INSANE!

It's not all about his tweets. The problem is that Bitcoin was already overbought at 60 thousand and many people knew it could correct so they had no buy orders set up at that level.
When Musk spew his hate and some people got scared and sold they sold into empty market.

When you have 1000 bitcoins and sell and there's only buy orders for 500 in the given range, the rest will automatically fill all the lower orders. If another big buy order is 2000 USD lower than that's where you'll sell your last coin. We are witnessing a domino effect that will stop when people calm down and realize it could be a good moment to buy again because what's done is done.

That's why it's called panic because people are not thinking straight. They are trying to get rid of bitcoin at all cost because there could be something wrong with it when reality nothing is wrong. It's the same Bitcoin they were paying 60000 USD for.

I agree that Bitcoin's price will go too high when it rises above $ 60k, and it is true that sooner or later there will be a correction. And what Elon Musk
did is only the trigger for finally Bitcoin corrections to a deep enough now. Many Bitcoin holders end up panicking, especially for new investors who
do not have investment experience in crypto, they will definitely be affected by what Elon Musk has done. Yet if we can be calm and do research
properly, we will surely understand that corrections do need to occur. It should be that the price of Bitcoin goes down there is no need to panic,
but make it an opportunity to buy Bitcoin, because I believe it won't be long before Bitcoin can go up again.