Many people who follow Musk to hype up Bitcoin never imagined that it was also Musk who ultimately caused Bitcoin to plummet. As the saying goes, success also leads to failure
Many people who follow Musk to hype up Bitcoin never imagined that it was also Musk who ultimately caused Bitcoin to plummet. As the saying goes, success also leads to failure.
On May 13th, Musk announced that Tesla had suspended the use of Bitcoin for payment, mainly due to concerns that Bitcoin would consume too much energy, especially traditional energy, and have a negative impact on the environment. People like Musk who come out to brag the next day, sing too much one day and then go short a few days later. If Bitcoin is listed on the legitimate stock market, it is estimated that Musk will be arrested for being accused of "manipulating the market".
In my previous articles, I have exposed the true face of Bitcoin and analyzed it from a monetary theory perspective, why Bitcoin is unreliable. For example, on May 21st, I talked about "Why does the United States allow Bitcoin to exist? What is the purpose behind this?" On May 17th, I talked about "Will Bitcoin collapse.
Everyone can go and check it out, especially those who still want to copy Bitcoin. Be sure to watch my previous program, and after watching it, you can take control.
Shortly after my program analysis was completed, Bitcoin began to plummet, dropping from its peak of $65520 on April 14 to $30205 on May 19, directly halving. This force was too strong and the decline was too fast, and many people had no time to run away. Some people also added leverage to the situation, causing them to lose everything.
Bitcoin itself is a Ponzi scheme. If the fraud wants to continue, more people will eventually need to invest more money. But it is impossible for all countries to open up to Bitcoin. After Musk's speech, many people will not dare to enter, and there will be no incremental funds to support speculation. Subsequently, due to the failure of many domestic investors' investments caused by Bitcoin, a series of adverse reactions were triggered. We saw more sovereign countries starting to oppose and ban Bitcoin, such as China and Russia. Our central bank has issued a relevant announcement: requiring relevant institutions not to engage in business related to virtual currencies. Relevant personnel from the central bank have judged that virtual currencies may eventually become game currencies.
However, Bitcoin has been rising for so long, and it has many followers in various countries, so it will not plummet all the way. There will definitely be a small rebound during the decline process. However, I advise everyone that a small rebound does not change the overall trend, and do not imagine that Bitcoin can be bottomed out. The rebound is temporary, and no one knows where the true bottom of Bitcoin is, or whether it exists.
I have never been able to figure out why so many people invest in Bitcoin. Fundamentally speaking, many people just like to follow the crowd. These people do not do research and like to speculate, rather than invest. Speculation, to put it simply, is gambling. Seeing everyone gambling and most people making money, some people are tempted to become lucky. Ten bets and nine losses, especially when someone like you who doesn't do any research participates in this investment, it often means that the leeks in this market have been cultivated and can be harvested. Who will you cut if you don't?
I always have a point of view that the best investment opportunity is in China. Whether it is the accumulation of reform and opening up for so many years or the rapid rise of our country caused by the COVID-19 epidemic, these can continue to play a role. The national fortune can be grasped in 5-10 years. Why do you want to invest in Bitcoin when you have such good investment opportunities?
Look at the domestic market, whether it's the real estate market or the capital market, there have been very good opportunities in the past few years, and such good opportunities will still exist in the future because our country is currently the best developed in the world. But on the contrary, investing requires learning, otherwise it will become speculation again. Many of my programs have mentioned some investment ideas.
At the end of the article, there is also a set of courses on investment and financial management knowledge for everyone. If you are interested, you can sincerely study them. These are all things that I have spent a lot of time organizing. Many people have already downloaded and learned from them, and they have gained a lot, which is especially suitable for friends who want to learn investment and financial management.
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