Bitcoin Crash 2021: Is Bitcoin Still Worth Buying or Investing in?

Markus
5 min readJun 2, 2021
ulchik74 via depositphotos.com

Bitcoin has been on a rollercoaster ride in the past week. It crashed more than 50%!

So what’s next?

What is causing the Bitcoin crash?

Is Bitcoin still a good investment?

In this blog post, we will answer these questions.

Cryptocurrency Markets Crashed By 50 Percent. What’s Next?

So what happened?

Bitcoin gained a lot of popularity in late 2020:

It went from $10,000 to $42,000 in 4 months before crashing 30% to $28,000 in late January 2021.

Photo Taken By Author via youtube.com/user/rockwelltrading2008

And then, in February 2021, Elon Musk added fuel to the fire by saying that Tesla (TSLA) bought $1.5B in Bitcoin and plans to accept it as payment for its cars.

Photo Taken By Author via youtube.com/user/rockwelltrading2008

As a result, Bitcoin rallied above $60,000.

At that time, it seemed that more and more companies are jumping on the cryptocurrency bandwagon.

In late March, Paypal announced that it will allow cryptocurrencies as payment, mainly Bitcoin, Ethereum and Litecoin:

Photo Taken By Author via youtube.com/user/rockwelltrading2008

Bitcoin is reaching new highs of more than $64,000 when some investors are taking profits, which is absolutely normal.

Bitcoin drops to $48,000 but quickly bounced back to $60,000.

Photo Taken By Author via youtube.com/user/rockwelltrading2008

Why is Bitcoin crashing?

Bitcoin Crash 2021: What You Need To Know

But then, on May 12, 2021, Elon Musk sends THIS tweet:

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Markus

Markus is a self-made multi-millionaire who was born in Germany. He came to the US in 2002 with $30,000 in his pocket and a dream to become a successful trader.