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Don't Panic - Bitcoin isn't dead yet

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Don't Panic - Bitcoin isn't dead yet

The CFTC is suing Binance CEO Changpeng Zhao (AKA - CZ Binance) and bitcoin plunged $1,400 immediately after the announcement.

Michael Saylor bought more bitcoin and bitcoin fell.

This is all normal market movements, the price always falls right after you buy. Saylor just buys more so the price drops more and on top of that the whole CZ thing just adds more dip to the dip.

DONT PANIC - ZOOM OUT

yes it looks bad today

https://preview.redd.it/lff1s7x01bqa1.jpg?1284&format=pjpg&auto=webp&s=f3e451e4a21dce0ff587a8ce3d8f17b2a2162b3e

but we were here last week and the price came back

https://preview.redd.it/xuxatgj41bqa1.jpg?1284&format=pjpg&auto=webp&s=230076efc4036e8355537b1dd7d66fda735bb832

and three weeks ago bitcoin was below $20k

https://preview.redd.it/8lll79q71bqa1.jpg?1284&format=pjpg&auto=webp&s=d5fc4e1610e53fee8e06babc8293a8a3b8bea364

on the three month chart we can see that bitcoin was only a bit above half of todays price

https://preview.redd.it/3oos7ij41bqa1.jpg?1284&format=pjpg&auto=webp&s=b25cc67876889d32e7f305e3771abbbda3e8d446

and if we zoom out a little more....

never mind this one, I zoomed out to much.

https://preview.redd.it/6iuy37j41bqa1.jpg?1284&format=pjpg&auto=webp&s=13a568b0a93b943e060cc755c3aba866f990a4ab

anyways the point is, Don't Panic - the price will go back up eventually.

submitted by /u/Odlavso
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