Baxia Markets
May 25, 2021

Bitcoin, Up Or Down?

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The uncertainty in Bitcoin continues. The price is sensitive to everything at this point. Elon Musk, CEO of Tesla, is able to move the price of Bitcoin. Government behavior, like China, banning Bitcoin in their country is able to move the price. The US government’s plans on taxing bitcoin also is able to move the price.


Recently, the big crash on Bitcoin caught a lot of attention. As we have said before, no one is “innocent” in this crash. The crypto game is very much still speculation at this time. You enter at your own risk. 


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After Elon Musk’s tweets and the US government’s plans, it seems like we have reached the peak in bad press for Bitcoin. Why? Traders seem to have calmed down over the past few days. “The drubbing that cryptocurrencies have received over the past two weeks is just a taste of things to come,” said Peter Berezin, chief global strategist at BCA Research. So, is this just a start? People who have the power to shake Bitcoin still sit tight. What should we do at this specific time? We say, stay alert, stay informed, and be diligent in your moves.


We love to hear new ideas from traders and want to know what you think! 


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