Monday, February 1, 2021

Elon Musk's endorsements didn't affect Crypto this time, and it's a good thing

You must have seen several posts here and in the other subs, about his bitcoin references in the podcast yesterday and personally I feel glad that it didn't do anything to the bitcoin prices.

Also the cryptocurrency ban in India news also didn't crash the price. I really find both as good for crypto in general.

The price variations might become harder, but in the long run, a steady, slow growth along with adoption will do much better than having a surge of thousands and then an even bigger crash.

More and more of these 'less influencing' events might also discourage people from taking everything to make a pumping event and instead focus more towards a steady growth. That would also discourage tons of those who consider crypto as a get rich scheme.

This is a personal opinion. It's kind of a relief not to have big pumps and crashes for every single tweet or a reference about bitcoin or other cryptocurrencies.


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