Bitcoin News
By James Thorp
1 / 12
Bitcoin achieves two objectives; it's both a unit of transaction and also a store of value. The U.S. dollar, for example, is a unit of transaction, but it is not a store of value.
2 / 12
At first, almost everyone who got involved did so for philosophical reasons. We saw Bitcoin as a great idea, as a way to separate money from the state.
3 / 12
There are many people who are still like: Maybe Bitcoin is a kind of a bubble. I don't like it. I'm not comfortable with it.
4 / 12
There are others like: Bitcoin will experience many bubbles along its way to improving the lives of everyone on the planet.
5 / 12
Elon Musk tweeted: To clarify speculation, Tesla has not sold any Bitcoin.
6 / 12
It just looks like he's here to get more Bitcoin by shedding fear and distracting all with Doge. HODL against.
7 / 12
Someone tried to clarify stating: What I understand Elon Musk is saying, is this: 1. He wants to find a “better” crypto CURRENCY for transactions; 2.
8 / 12
Well, a perfect example that humans tend to blame someone else for their own stupid behavior. Everyone panic sold and now they keep wondering why the price dipped.
9 / 12
Several traders who reacted to Elon Musk, lost their positions in a few seconds. They didn't sell. They got stopped out at a loss or liquidated. That's market manipulation.
10 / 12
Stop loss positions were automatically liquidated. Elon is to blame. His single tweet did a lot to the chart within minutes.
11 / 12
Someone who tried to support Elon Musk stated, logically, you'd want to hold on to what you've bought already. But your concerns are much bigger than Bitcoin.
12 / 12
However, another user gave a realistic view stating, don’t be a dummy. BTC uses 75% renewables and is a smidgen of what it costs to run fiat.
The Currency Analytics
Want the full story?