Why's it all crashing

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Tether's largest shareholder Zhao Dong sent to federal prison after being found guilty of laundering over $480 million in cryptocurrencies, and other crimes.

Institutional investments into #Bitcoin has gone negative for the first time in years.

Tesla announces suspension of vehicle purchases in #Bitcoin after Elon Musk tweets his concerns over the effects $BTC mining has on environment.

Securities and Exchange Commission releases warning statement to #Bitcoin investors, claiming extreme speculation, and volatility. Potential crypto regulations hinted, and a new SEC division created to monitor BTC price manipulation and fraud.

Source - https://twitter.com/CryptoWhale

And of course automated bot selling.

Edited May 13, 2021 by HAL1000

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Some more observations from Crypto Whale - I just had to share these, Crypto Whale has a habit of seeing the truth in things:-

"Joe Biden says the five most recent past Federal Reserve chairmen support his trillion dollar spending plan. Wow, that’s crazy, especially considering two of them are dead"

HAHAHAHAHAHA

Also

"Notice how Bitcoin's parabolic bull run ended on the exact day the New York Attorney General said Tether was a fraud, fined them millions, banned them from NY, and forced them to produce quarterly audits. Probably just another "coincidence" in a purely organic market though..."

JUST IN: #CoinBase announces plans to add #DOGE Coin to exchange within the next 6-8 weeks. $DOGE

The Department of Justice and IRS just confirmed they have opened huge investigations into #Binance Binance CEO immediately responds by calling it "FUD" Seeing the trend yet? Anytime these criminals are confronted with facts, they desperately try to cover it up.

The biggest false narrative in the crypto space is that institutions are rushing to buy up #Bitcoin I can't even think of 5 companies that have more than 1% of their reserves invested into Bitcoin.

Binance is the top exchange using unbacked Tether, and is also heavily involved in that scandal. Despite many top exchanges planning to go public, Binance says they don't ever plan on it. Why? Because being public means you get your books searched.... Can't do that...

Elon Musk says Tesla is looking for cryptocurrencies that use less than 1% of Bitcoin's energy consumption. Good thing $XRP uses less than 0.001% of Bitcoin's energy and only costs $0.0000136 per transaction.