Bitcoin continues to trade with a decline for a whole week. Recall that the cryptocurrency market continues to function at the weekend. And at this time, the crypto community continues to think about the question, will there be a new round of bitcoin growth? Or maybe far from one? Recall that bitcoin is not constantly growing. For example, three years have passed since its last strong strengthening. For three years, the cryptocurrency has been trading in a relatively narrow range and only in the last few months shows the strongest growth. Such cyclicity and frequency still suggest that the majority of bitcoin holders consider this cryptocurrency only as a means of earning money. Therefore, when most investors say "stop, that's enough", bitcoin will crash down. In fact, in the last week, it has already collapsed, losing almost a quarter of its value. Interestingly, just recently, Tesla, Microstrategy, as well as several other large companies with a global name, invested in Bitcoin. Many experts then believed that the investments of these companies would serve as an example for others and mass investment in bitcoin from large companies would begin. However, as practice shows, many people are still quite skeptical about bitcoin and do not want to get involved with an asset that can lose a quarter of its value in a week. Moreover, for example, the company Tesla is now associated not with the production of electric cars, but with bitcoin investments. As we wrote earlier, Tesla receives most of its profits not from the sale of electric cars, but other activities, for example, from the sale of environmental loans to other automakers. Now many investors associate the name of Elon Musk with bitcoin and draw patterns between the value of Tesla shares and the value of "digital gold". Since stock markets are closed over the weekend, it is easy to assume that Tesla shares may fall even more on Monday. The last jump in the stock market led to the fact that Tesla shares fell in price by 8%, and Elon Musk lost $ 15 billion thanks to this. Bitcoin continues to fall in price and many are waiting for a synchronous fall in Tesla shares. Thus, we once again draw attention to the realities of the 21st century, where the value of shares no longer depends on objective market realities. It depends on the exchange rate of an unsecured asset. And the rate of unsecured "digital gold" depends on the statements of the head of the company, whose share price depends on the rate of unsecured assets. A huge number of books on the stock market can be thrown out as unnecessary. Now you need to monitor not the monetary policy, the state of the economy, the economic condition of the company. Now you should follow the news on the Reddit forum and the tweets of Elon Musk.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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