Post
Topic
Board Bitcoin Discussion
Re: How much power does Elon still have over the crypto markets?
by
Jerryzack2
on 17/06/2021, 18:32:37 UTC
pumping shitcoins is super easy. there are also a lot of pumping groups who are waiting for any excuse to pump these low shitcoins because the real profit is as it has always been in pump and dumping shitcoins. that is why we saw such a mssive DOGE pump when they had the "excuse" to pump it.

as for bitcoin, it was not Elon who crashed bitcoin. there were A LOT of reasons why bitcoin crashed. and since you are new i have to tell you that such crashes are very common during the bitcoin bull runs.

- the main reason was that bitcoin had gone up too much and too fast with only small corrections so it needed a "pause" before it co uld rise big again.
- the other reason was because the $65k-$70k prices were too hard to reach and after a couple of attempts they didn't break. so the correction starteed.
- the other reason which contributed a lot was a huge FUD campaign that fooled newcomes into selling their bitcoin by scaring them into thinking: bitcoin's energy consumption is huge (lie), some countries including China are banning bitcoin (another lie), FBI hacked bitcoin (another huge lie), and a lot of crap like that which they used to  keep it down this low.

yet people only see the "celebrity" and associate everything with them!!!
I absolutely agree with what you said. Celebrity or a country's influence will not cause such a price fall, Bitcoin is just reacting to market forces.
I don't get why people are quick to attribute bitcoin price to myths as if it's a stable coin.