- but my quick search says Elon Musk seems to be one of the reasons for the decline.
I don't understand, what has he done to make the price to fall with so much force like I never thought it would be this way. Must he be on the negative side or what? I wish investors should not entertain FUD rather they should hold.
Musk selling isn’t a big deal. Especially since this was a small position anyways and we knew he would eventually sell since he sold 80% or so already.
The reason why we crashed so hard is due to poor liquidity. Nobody is trading now. It’s summer and the books are thin. And we had many leveraged longs who went long in June and July and they were the reason we took a big dump. Many people liquidated and nobody left to take the trade on the other side.
It gather attention because he is influential but if we look at the bigger picture he is not dictating all of the movements since his holdings cannot actually affect bitcoin if people will not panic on his action done. Much better for people is to stay relax since scenarios like this always happen and to avoid losses much better they should not sell and wait for bitcoin price recover. I see a lot of negative sentiments on current situation and we can't blame other to get stress on situation since maybe they are new for this and they don't know how to deal with such movements.