Price drop of bitcoin continues as it was now at $36k, since Elon Musk announced that they will stop accepting bitcoin as payment, Bitcoin drops rapidly in just a week almost -40%.
Q&A
Q: "will it continue to drop?"
A: well my answer is "yes" it will continue until people stop the panic selling.
Q: why Elon Musk words has big impact on bitcoin?
A: I really dont understand, But what i think it wasn't his words but his actions, rumor says that before he announce that they will stop accepting bitcoin as payment he already sold his shares and then we are here now panic selling just because we saw a long drop.
Q: can bitcoin regain it 50k mark before end of may?
A: for now i really can't tell i am not that expert so i am too hoping that it will regain its 50k mark before the end of the month.
Q: What is really happening on bitcoin?
A: there are 2 scenarios running through my mind. first is that this was an act, i think it might be a strategic price drop getting ready for a huge leap on the price, second is it was really due to Elon Musk announcement and people think it was the end of bitcoin so they were panic selling.
Q: was it really end of Bitcoin?
A: Hell no! hahahaha 30k is even better than 13k(2020) it will be the end of bitcoin if it drops to 1,000 believe me hahahahhaha!!
Q: what should we do? sell or buy?
A: it was unstable, price is droping so many are riding the trend selling but we cant tell until one of the major holder will make a move, so for me do nothing? or focus on other cryptos there are many not just bitcoin..
Q: Bitcoin is pulling down the other cryptos?
A: Yes! most of them are getting pulled by this trend.
many are hoping that this drop end as soon as possible, so i am. hope that people will stop panic selling if my hunch was true. but if it was really a strategic drop then we can expect taht price will back again before or after the month of may.