#ELON #CHINABAN ##Cryptocurrency #Cryptonews
May 29, was a massive down day for bitcoin and crypto, and there is a lot of speculation about what happened and if bitcoin and other crypto are in a bear market. Let’s look at what happened recently that may have precipitated the “crypto crash”:
1. Elon Musk: The Twitter spat between Musk and the bitcoin maximalists was definitely impactful. Having someone as influential as Musk make negative comments may have caused some people to sell – likely the same people that had bought bitcoin because of him.
2. Reuters broke a story about China banning crypto. A story about governments banning Bitcoin may make people nervous – after all, if one government does it then surely others will too.
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