ELON MUSK DUMPED BITCOIN!
Today for the bitcoin price and I literally just woke up to breaking news Elon Musk. Exposed Elon Musk and Tesla exposed for what they are doing with bitcoin – you probably heard the news already. But, hear me out, this goes much deeper than you might think. Then the new newspaper is actually telling you if you are going into the landscape you can see things like Tesla Q2 2022 to reports showing a crypto cell decrease in profits after Tesla sold most of its bitcoin.
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Elon Musk says it’s open to buying more and so on and so on and um I mean it’s it’s really really interesting till Tesla has done 75 of the bitcoin holdings. But, let’s go on to the charts and let’s see what actually happened. If we are going into the charts and we know that their average selling price was 28 800 us dollars. If you remember actually that this was the exact line of the sand. I was very confident in bitcoin holding up to the exact dollar twenty eight thousand eight hundred us dollars the exact selling price of Tesla and see what happened afterwards. Then the whole story gets much more clear.
Let me show you not only that they sold in a loss not the best move. But, maybe they wanted to realize some losses but look at what happened afterwards so that was definitely the most important support to hold. But, more importantly, dear ladies and gentlemen, think about the news that was the moment Terra Luna broke down, then Terra Luna had to sell because of that we had three hours capital.
We had Voyager block fi what else Celsius. There was like a chain reaction triggered by this Tesla Elon Musk sell-off. Of course, I’m not saying – it’s Elon Musk’s fault that Terra Luna failed. No, it was a systemic like a systematic error of Terra Luna in it of itself but he was the one triggering the chain reaction or Tesla. Whatever you wanted to say were the ones triggering this chain reaction and making bitcoin dump down from 28-28 800. All the way down to 17 000. so it was a sell-off it was not actually that the fundamental value of bitcoin should be below 20 000. No, it was market sells from of course Tesla Terra Luna and so on. This puts the whole situation here into a complete new light yes I am in my trade still very profitable trades the bitcoin, Ethereum trade. But, we are getting a rejection here right now. Of course, we need to break this downward sloping line before.
I turn severely bullish for bitcoin but at least. We know where was this crazy dump coming from. Do you want to blame Elon Musk and Tesla for it? I’m not blaming them for it. They can buy and they can sell whenever they want. One problem I have though it was said we are buying it for the very long run. Then when things go south selling it breaking your world that is not.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/d48dCRVgrjw