I woke up today to news of Bitcoin dropping from USD54,000 to $46,000 before recovering back to the 50,000 levels. All these happening while I was deep in my sleep. Wow, what an exciting night for those who experienced through it all. Of course, when I woke up and opened twitter, I saw news of what had happened and my mum even forwarded a CNBC article to me.
So this was kinda what caused the dip:
Elon Musk have been pushing for Dogecoin which has driven up it's prices by tremendous amount and increased the wealth of many. But with the above tweet, he has also wiped off $365 billion off the cryptocurrency market as not just Bitcoin has been affected but other cryptocurrencies have also dropped in value.
I think it's important to still know fundamentally why you invested your money into Bitcoin or any other...