When during Pandemic there is what we called "PANIC BUYING". In Cryptourrency space there is this "PANIC SELLING!".
Wanna know how Bitcoin Cash Community handles the DIP? No sweat! Read the details below and lemme give you some more basic details.
TRADERS would often educate and preach about BUY LOW and SELL HIGH! But come to think of it, are they really practicing what they preach? Well well well!
Since earlier today, May 13 PH Timezone, Cryptocurrencies were on the Bearest market. Whenever you are a newbie you would start to panic and sell what you have to your fiat whenever you get the slightest chance while some of the so called "TENURED" when it comes to trading, would tell you: "Do not panic that's normal. Enjoy the SALE!".
Now what do you think affected this BEAR and BULL of the MARKET?
A certain posts made me curious from one of my our dear friend in Noise.Cash and Read.Cash @Marts that this has something to do with a certain tweet from this INFLUENCIAL person named: ELON MUSK.
What did Elon Musk tweeted?
In facebook, I saw this certain interview:
Source: https://www.facebook.com/watch/?v=477853973459686
Here's what Elon Musk posted on Twitter based on the source above:
Some crypto enthusiasts and investors decision are said to be influenced by Mr. Musk. And we are talking about a lot of investors here not just 1 or 2. The value of the coin would either increase or decrease depending on the number of people holding, using or buying it. With this being said, let us get to know the basic details about him Mr. Musk so we could have some insights as to why he can influence that much in the Market.
As per Source: https://en.m.wikipedia.org/wiki/Elon_Musk
Net Worth:
$183.9 BILLION (As of May 2021)
Occupation:
Entrepreneur
Industrial Designer
Engineer
Title:
CEO and Founder of SpaceX
CEO and Architect of Tesla
Fomer Chariman of SolarCity
Co-Founder of Neuralink, OpenAl and Zip2
Founder of "The Boring Company and X.com which is now part of PAYPAL
If you try to take a look at the digits you would really be amaze and anyone who is aiming to be as RICH as this man would pretty much get influence by what he will say as he is such a "BUSINESS MAGNATE".
"Based on that source from the Internet, Mr. Musk was sued for defamation by a diver, then on the same year he was sued by US Securities and Exchange Commission (SEC) for falsely tweeting that he had secured funding for a private takeover if Tesla. Hee settled with SEC temporarily stepping down from his chairmanship. He also had some limitations on his Twitter acouunt usage. It has also been listed on this source that he spread misinformation about the COVID19 pandemic and has received criticism from experts. "(Refer to the link posted above)
The question is, do you think his tweet is some sort of a MARKET MANIPULATION?
No one knows, but for those who are in deeper thoughts and still torn between BUYING the DIP, PANIC SELLING or to remain HODLing may the peace of mind be with you. (LOL!)
BITCOIN CASH COMMUNITY while in the DIP:
While some people are on a "PANIC SELLING" afraid with the inflation, which would means more loss from everyone's assests, BITCOIN CASH COMMUNITY on the other hand are just taking their chill and continue to being as NOISY as they are in Noise.Cash and writers in Read.Cash seems not to mind about it as they continue to write anything under the sun!
That only means, We EARN WHILE ON DIP! As our wallets get filled with Bitcoin Cash from our day-to-day earnings it makes us feel at ease so far be it during BULLISH or BEAR of the Market.
People from our Community knows that this is the best chance to earn more to add up to what we currently have in our wallets. While other investors may now be either depositing from their hard earned money (fiat) from working 8 hours or full time, we on the other hand, continue to earn Bitcoin Cash and get the chance to invest it. Bitcoin Cash helped more and more individuals each day especially those that are coming from the Middle Class of the Society, like me.
We do not feel the Loss because we continue to earn, we continue to get our withdrawal limit with the help of the best platform that I have been with so far, NOISE.CASH and for most of those users who turned from just a simple noiser now a BLOGGER like me, we also get to earn in READ.CASH.
My friend, whatever may happen to the Market you get to decide as this is your own hard earned money.
CONCLUSION:
Your investments are in your hands, do not depend too much with the News and with other people's speculations because at the end of the day, you will be the one to either celebrate with the profit or suffer with the loss.
Cryptocurrency is volatile which means that, unlike our Fiat, it isn't stable but I believe as the Bear gets tired the Bull will surely bounce back!
Wow ! Congrats for reaching here at the bottom. Do not hesitate to comment your thoughts. Remember you are awesome!
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Trading has difficulties. Certainly bad news for BTC and as usual a BTC dip sends the rest of the market down too. Some mechanisms should be there reduce BCH dependence on any BTC bad publicity.