See Elon Musk does not hate Bitcoin.  He is now like:  Doge = Checking Account Bitcoin = Savings Account.

Elon Musk expressed: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage and to ask miners WW to do so. Potentially promising.”

Elon Musk tweets and Bitcoin instantly rises by 2000$. This guy has way too much influence and that’s bad for the decentralized world that crypto is creating.

Did not see that change of heart coming? Those who are now paper hands feel like ducks!

Perhaps they heard Dan Held saying:  “It used to be a career risk to get into Bitcoin, now it’s a career risk not to get involved.”

“Bitcoin is now considered an investable asset” per Mathew McDermott, GoldmanSachs global head of digital assets, in a new piece of research. Further stated, “It’s not often that we get to witness the emergence of a new asset class.”

Bitcoin has always been an investment – It’s freedom.  It’s called a network that is what makes it decentralized.

Thanks Goldman Sachs, Bitcoin needed your approval.  GoldmanSachs has stacked sats on the dip.

Regulatory uncertainty seems to now be the biggest SCARE in the space.  China demonstrated that last week and in many ways Elon’s take on carbon/coal was the same narrative. Funny to see all that bullish news after the sell-off. They bought those weak hand coins.

It was all a part of big game. Now big players have already purchased bitcoin at lowest price ever. So they can have huge profits.

No-coiners are taking this opportunity to buy the dip. In case you’re wondering, the bull market is very much intact.

Dan McAedle, cofounder at Messari Crypto:  Bitcoin fell because of [Elon, China, Treasury, Regulators, Whales, Manipulation, etc]. This is a misunderstanding of the market. People always look for an explicit cause of a big move. Often market was just extended one way or another & virtually anything would’ve triggered the move.

Bitcoin believers lost faith? No, tourists lost faith. Happens every time. 90% of the new wave of people go away, but the remaining 10% really dig in, aren’t going anywhere, and set the floor for the next run.

Bitcoin proved to be 100% speculative? No, it proved to be volatile while young – which is expected. It is a monetary superset of gold with a fraction of the market cap that the whole world is in the process of learning about. That is not a recipe for a straight line.

Bitcoin performance is terrible: Only if your time frame is short. Longer-term oriented people have been rewarded more (and faster) than for any other publicly-available asset in history.

No one will ever buy BTC again after this carnage? Well, what tends to happen is smart people see lower prices as an interesting potential entry, incentivizing them to do the work on getting up to speed on BTC. Then they become ardent supporters, & build the base for next wave.

Government will now regulate it to death because popular opinion is so bad? More shoe-horning of BTC into regulatory frameworks is inevitable, should’ve been in your model since day 1, and doesn’t change long-term outlook.

Bitcoin is dead? Ha Ha, it’s died hundreds of times, while being up hundreds to millions of % from when almost all of the death proclamations were made.