Musk Hints That Prices Are Excessive
It’s been a bloodbath the past two days And there’s been a lot of speculation of why it’s happened. Corrections are a normal part of bull runs and historically speaking we have seen multiple 30% corrections in bitcoin’s last bull run. It seems that people are trying to find a catalyst to explain the movement and excluding technicals and historical data. I’m actually pretty annoyed by how much attention Elon is getting over his involvement with cryptocurrencies and how much influence he has over markets.
Main stream media seems to be giving him more power than I want to.
Elon Musk’s embrace of Bitcoin earlier this month rocketed the cryptocurrency almost 50% higher to more than $58,000. His cold shoulder this weekend whipsawed the largest digital asset. source
The go on to acknowledge he might just have too much power...
Elon and his fleet have incredible power over market prices,” said Mati Greenspan, founder of Quantum Economics, comparing Musk’s influence over the digital asset’s price moves to Warren Buffett.
It’s this that concerns regulators which is never a good thing.
Long-time Bitcoin skeptic and now Treasury Secretary Janet Yellen also offered a stark warning, saying at a New York Times conference on Monday that the token is an “extremely inefficient way of conducting transactions.”
It even has Bill gates concerned...
Bill Gates On Investing In Bitcoin: 'If You Have Less Money Than Elon, You Should Probably Watch Out’ source
Markets are trying to recover, but there’s still a lot of volatility and retail has been hurt. I understand these conditions, but the optics are bad...
Huge down days only allow whales to accumulate as retail heads to the hills for safety. I’m one of those people who will hold, but at this point I don’t have any cash in the sidelines to add on big dips. I’m fully invested at these levels. Whales have an unlimited amount to move market. Be safe out there...
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