Post
Topic
Board Economics
Re: A Sudden Price Drop in The Crypto Markets
by
The Pharmacist
on 19/05/2021, 00:25:17 UTC
Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come?
I'm sorry but it looks like you are in a panic mode, just relax, this is not a sign of worse things to come.
Eh, everybody seems to think like that--bitcoin drops a few thousand dollars in a couple of days and all of a sudden they're crying "bear market!!!".  But movements like that don't mean we're in a bear market at all.  The way I see it, bitcoin just had a big dip and it's way too early to start calling this a trend (which is what a bear market is).

I do agree that Elon Musk is responsible for all of this, though I don't agree that he's trolling anyone.  You might not like what he's been saying, but I don't think his intention was to crash the bitcoin market.  I don't know if he didn't think things though or what, but his comments about bitcoin not being "green" are just stupid.  He had to have known all along how bitcoin works and how much electricity the network consumes.  And it's not like dogecoin isn't a PoW coin itself.  It's all very strange.