- 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.
And probably it triggered though the news of Elon Musk selling and so it has a domino effect on the market. And talking about poor liquidity, its been months that we have been trading sideways and so it's just a matter of time before we can have a break out run to the upside or the downside.
It's just so unfortunate the we went on a downside because of this whole Elon Musk selling and it seems it become a FUD and sends panic to the investors again. And after that it's obvious panic selling next pushing it down to it's lowest at $25k.