Unlike what many traders believed when they panic sold their BTC, Bitcoin is definitely not dead, and the king coin is here to stay.
After dropping in price around $30k, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $39,158.69.
The bull market is definitely not over, and more important names are pointing this out via social media.
Here’s what Justin Sun had to say about this:
My personal opinion about current market. This is not investment advice: The bull market is certainly not over. We are in the period of the adjustment of bull market. June will build a steady trend. July and August will certainly start a new round of bull market.
— Justin Sun (@justinsuntron) May 24, 2021
Anthony Pompliano also dropped this message:
Bitcoin is up 19% in the last 24 hours.
Fundamentals never changed, FUD just got louder.
Stay focused on what matters.
— Pomp (@APompliano) May 24, 2021
Check out Charlie Lee’s important message as well:
1/2 I see this as an overall good thing. It will help defeat the energy FUD. Yes, this is kind of like a mining cartel, but the difference between this and OPEC is that Bitcoin mining is permissionless. Anyone anywhere can mine Bitcoin without needing permission from this cartel. https://t.co/8GR7blNfff
— Charlie Lee [LTC⚡] (@SatoshiLite) May 24, 2021
He also said: ‘Humans will always tend towards centralization. It’s how we cope with chaos. But this is fine because Bitcoin is designed to stay decentralized. If anything bad (fees fixing, AML, censorship, etc.) comes out of this, Bitcoin’s immune system will fight and defeat it.’
Elon Musk and Michael Saylor boost BTC
We earlier revealed that Elon Musk and Michael Saylor are pumping BTC together.
MicroStrategy’s Michael Saylor is involved in this move as well. Check out their tweets.
Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide. https://t.co/EHgLZ9zvDK
— Michael Saylor (@michael_saylor) May 24, 2021
Michael Saylor continued and said: ‘ Execs from @ArgoBlockchain @[email protected][email protected]
@[email protected]@MarathonDH&@RiotBlockchainwere present & decided to establish an organization to standardize energy reporting, pursue industry ESG goals, & educate+grow the marketplace.’