I've been taking a short break from my work for the past two days - and WOW was I totally shocked when I know the price of bitcoin having dropped so much the previous day. I was wondering what this was all about - but my quick search says Elon Musk seems to be one of the reasons for the decline.
So far I haven't really cared much about market volatility - but the current market conditions have reminded me of the FTX crash. Not sure when the market will recover even though I'm not too affected by the volatility. My hope is only one; avoid panic - just hold your bitcoin and accumulate.
It's all Elon Musk in the internet. Everybody is telling that he's the reason why Bitcoin went down that hard, but the reality is that, the market is slowly going down in the past days already.So far I haven't really cared much about market volatility - but the current market conditions have reminded me of the FTX crash. Not sure when the market will recover even though I'm not too affected by the volatility. My hope is only one; avoid panic - just hold your bitcoin and accumulate.
China's deflation, some other China-related news that affected the US stock market are I think the reasons why crypto market is down as well. US Stock Market going down, and so does crypto market. Whoever thinks that Elon Musk selling his Bitcoin is the sole reason for this dump are just a newbie like me, or an Elon Musk fan.
Well TBH, I don't really care about the news. What I care is those opportunities that comes by. I mean I already took the opportunity, and bought small amount of Bitcoin. As for the current price movement, since that downfall, Bitcoin is moving sideways again, and so does other altcoins. Maybe we might see Bitcoin going even lower in the next weeks because of China again. We don't know, but as an investor, always take these opportunities, and buy some Bitcoins at a lower price.
