The crypto market has been a rollercoaster these days. You are probably aware of the fact that Elon Musk tweeted about Bitcoin and his messages triggered an apparent collapse of the BTC price. The price movements these days were huge.
The price went as low as $30k but at the moment of writing this article, BTC is trading in the green and the king coin is priced at $41,827.09.
Weak hands freaked out in the morning when they woke up and saw BTC trading below $40k and as expected, they sold.
As we already discussed in a previous article, this is exactly what the big players were hoping following the massive market manipulation.
Crypto lovers and Bitcoin maximalist on the other hand are doing something else. Check out Michael Saylor’s tweet.
— Michael Saylor (@michael_saylor) May 19, 2021
The online publication the Daily Hodl noted that the crypto analyst Lark Davis says Bitcoin traders shouldn’t sweat Elon Musk’s comments or BTC’s latest price dip.
Anthony Pompliano drops an important message for traders
Now, Anthony Pompliano has the best advice for traders. Check out his tweet below.
Bitcoin back to $42,000 already.
Volatility is part of the game.
Think long-term and chill.
— Pomp 🌪 (@APompliano) May 20, 2021
Someone said: ‘Let’s stop talking about price and more about how bitcoin helps people in underserved countries. This is the way forward. We have to better speak to those not into crypto instead of number go up.’
One other follower posted this as a response: ‘Daily RSI bottoming out (1), potential daily bullish engulfing green candle with a close over $42,850 est. (2), and Hash Ribbons eventually marking a buy signal (3).’
Stay tuned for more news and make sure to keep your eyes peeled on the crypto market.