Elon Musk Just CRASHED Bitcoin!?

 

Alt Coin Market Down! WHY!? is the Bull Market OVER!?

what's up guys and welcome back to the Blog we are in a seriously bloody market today lots of things are in the red bitcoin Ethereum all of the big dogs some of our hype coins are also down so in today's BLog what i want to do is address exactly why we are in this position what has led us here and where we are in the market currently 

so if you are concerned about the current market and you want to kind of get a hold on what's going on then this is the Blog for you before we go any further if you don't know me already my name's Ghost Rider and i am not a financial advisor i'm just a guy sitting in his room talking about making money online so if that sort of thing interests you and you're into stocks and shares and of course cryptocurrency then this is potentially the channel for you so why don't you just smash that like button hit that follow button and of course as i'm not a financial advisor nothing in this Blog is financial advice don't make any investment decisions based on this Blog or any Blog you find on Blog you need to go out and do your own research come to your own conclusions and then only then should you consider making any sort of decisions so without wasting any more of your time let's jump into my computer and go through exactly what's going on in this bloody market just quickly by popular demand i have opened a patreon account you can join by following the link down in my description you'll get general support technical support access to my private discord channels real-time updates when i make a trade amaze early access to my videos and so much more alright guys what's up and welcome to the computer and i'm sorry to say it but today is another one of those seriously bloody days we got bitcoin down 13.74 on the day a etherium keeps tumbling right now 13 as well very similar to bitcoin we got binance coin as well down 13.95 we got tether obviously sitting steady at the stable coin there is cardano doge coin down 20 now on the subject of dogecoin this is the culprit well not dogecoin but the doge father himself Elon he posted this morning or 11 hours ago depending on where you are and he posted this tesla has suspended the vehicle purchases using bitcoin we are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions especially coal which has the worst emissions of any fuel cryptocurrency is a good idea on many levels and we believe it to be a promising future but this cannot come at a great cost to the environment tesla will not be selling any bitcoin and we intend to use it for transactions as soon as the mining transitions to a more sustainable energy we are also looking for other cryptocurrencies that use less than one percent of bitcoin's energy transaction that's what he said very strange i don't really understand what's going on here because just the last tweet he said do you want tesla to accept doge i'm not sure if Elon Musk realizes but dogecoin is also a proof of work coin you mine doge it's not a proof of state coin like ada or one of those or even safe moon wing wing it is a proof of work using miners using electricity to mine it so let me know down in the comment section which cryptocurrency you think Elon Musk should accept on the tesla website maybe you think it's safe moon maybe you don't but a man can always dream in the same breath of him asking if they want to accept dodge he cancels the accepting of bitcoin now i think there's something up here Elon Musk isn't a stupid man he is obviously one of the most intelligent people on earth so i think there's something more that he's not saying something that's going on here so what i think could be happening here is Elon Musk is basically just trying to push the world into a greener more renewable way of mining bitcoin i think that's what he's trying to do here and there are a lot of companies out there that are already doing this and already attempting to start so one of the companies i actually own myself argo blockchain they have a lot of renewable energy that is used to mine bitcoin so it's happening and maybe behind this tweet he has a point maybe what he's trying to do is push these companies in that direction because now if they start their renewable energy journey or increasing the amount of renewable energy that's being used then maybe he'll start accepting it again and he'll start talking about it again i find it very frustrating that the entire market relies on one man's tweet we drop you know 14 because of one man's tweet now this is a great example of how fragile the market actually is you know we dropped from about here this is where the tweet happened right there so Elon Musk tweets boom the market drops from here all the way down to a blow of 18 the market dropped 18 from a tweet now if that doesn't prove to you that we are in a seriously fragile time i don't know what will so i think that we'll recover from this you know it's looking like we're going to recover from this right now we hit this was the low but we look like we have a lot of support sitting at exactly where we are right now around 49 k so there's loads of support there we have a few other lines this is where i see another major level of support around the 42 000 mark and then we have one last one that is around here at the 30 000 mark now i very much hope we don't hit those i do think if we break through this there's a possibility that we'll go through this and then that would probably lead to us being in a bear market for you know the foreseeable future but as we sit right now we have broken through the 100-day moving average on the daily chart which isn't a great sign normally we look at the 50 day and we're very much underneath that now as you can see we did break through it on the 18th of april we bounced off this average here and then we came back up so hopefully what we'll do now is we'll bounce off here and continue back up passing the 50-day moving average that's what we want ideally what we don't want to see is us to have a bounce and then flip one of these in to resistance we have been in resistance mode here we're on the way down but what we don't want to see is a continuation of that we do want to see a break above the 50-day and 100-day moving average so that's what i'm looking out for but if you look at this chart here if you look at the way it's built up this doesn't look like the blow off top that we were expecting from the end of the bull market that's why i'm still bullish on the market as a whole it doesn't look like the same thing now history doesn't repeat itself it's not going to be the same story as to what happened in 2017 but history does rhyme similar things happen so over the course of different ball runs we do see very similar things happening so here is the ball run from 2017 2018 and what you can see is this massive upward kind of parabolic move in bitcoin what it looks like to me is this is a similar sort of thing that we're in right now so look at that chart there we can see we went up we went down we went up we went down we went up we went down and then we moved into this parabolic move this doesn't look like a big drop but i can show you right now the drop is where's the end of that candle around there the drop is 24 this drop here is another 14 and then this drop here is around a 35 drop so you can see we have those drops often and then what do we have here we have a drop around here at 25 so very similar to that one we have another drop here at around 22 and we have a few more drops but this drop we're in right now is no more than 23 at its max so look at that chart there there's no para there's no massive parabolic move that i can see here but hey i could be wrong like i said history does tend to rhyme but it doesn't in my opinion repeat itself so hopefully we can break through these resistance levels that i was talking about and we can continue on our way up i wouldn't be panic selling anytime soon but i do like to always say if you are panicking right now it probably means that you have too much money in the market if you got in down here and you're all the way up here no one ever got poor taking profit so keep that in mind next up we can just quickly look at the Ethereum chart and you can see we are struggling a little bit here but they have had that parabolic move Ethereum would be considered an altcoin all coins have been moving very nicely this normally happens when we see bitcoin's dominance go down when we see bitcoin dominance go down what we are ideally looking for is the price to stay stable as you can see here it stayed in this channel and now today we are seeing the price of bitcoin plummet and the dominance is staying down so when we see the dominance the bitcoin dominance dump and the bitcoin price dumps altcoins tend to stay stable that's not exactly what we're seeing right now and i think the reason for this is simply that there's just fud in the market right now fear uncertainty and doubt there's fear around what Elon Musk was saying and there's fear in the longevity of the overall bull market because the price of bitcoin has gone down people start to get worried about the entire bull market like i said just before we have those key levels of support and as long as we don't break them we're doing okay but that is why there is fear uncertainty and doubt in the market and in my opinion that's why the altcoins are also selling off because people are securing their profits which isn't necessarily a bad thing for the long run of cryptocurrencies going up like we need to have these healthy pullbacks in order for us to continue to go up because it's what's known as shaking out the weak hands now i don't think there's anything wrong with taking profits i actually think that it's a very very important part of any investment plan especially in speculation like all cryptocurrency so we're shaking out the weekends and hopefully we can continue our way back up this could be the perfect opportunity for a btfd buy that freaking dip but hey it's not financial advice do what you think is best if you think just holding is best do that if you think selling is best for your own investment style then do what you think is best don't blindly follow some more unlike me on the internet on that note of taking profit i actually do personally myself intend on taking some profits converting the gains that we've had in the recent months with these hype coins not all of them i'm still holding some of my bags but taking those gains and putting them into fear and actually hopefully buying an investment property so that's my game plan you know i'm following that game plan i'm trying to not get greedy in the market i don't think that we are at the end of the bull market whatsoever but i think it's time for me to start taking some profits i actually don't want to take any money out of the market i'm actually fighting myself to hold on because you know i think we have so much more room to grow so that's what's happening in the world of bitcoin right now i'm personally not panicking i think we're okay i think we're doing all right as long as we don't break through these levels i think this will be a level of concern for me hopefully what will happen now is we end up here and then you know we have a little bit of movement here and what we can do is we can bounce off this and hopefully we can continue upwards that's what i would hope will happen next like i said i'm not panicking but it really does depend on what happens next with the news what this guy Elon tweets the general sentiment of the market if it continues to be bearish then we could see some downward movements for now but even during the filming of this video we've rise three percent and what that means is people are buying up these dips like crazy which is awesome that's what we want to see hopefully we can go back up to where we were just a few hours ago and everyone can chill out alright guys hopefully you enjoyed this little update hopefully i provided you with a little bit of value.