Post
Topic
Board Altcoin Discussion
Re: Don't blame Elon musk and China for the dip!!!!!!!
by
Hannahanto
on 21/05/2021, 23:00:01 UTC
If we are to be really honest with ourselves, the cause of the recent dip in the market is not because of Elon Musk tweet or because of China ban on crypto (though it added to it). It is because the market has been in an overbought position long enough. Taking Bitcoin for example, the price increased so fast (leaving a price imbalance/void) without any serious retracement or correction. So the market is just correcting itself.
I don't think the market is correcting it self. Forget the over bought normally is okay for the dump, but look.at this last dump it's unlike any other dump this year.
They is something more to this dump