To everyone who is relatively new to Bitcoin and Cryptocurrencies: Large swings in price are entirely normal and they are rarely due to a straightforward reason

To everyone who is relatively new to Bitcoin and Cryptocurrencies: Large swings in price are entirely normal and they are rarely due to a straightforward reason. There are certainly some people who dumped some coins because of Elon's announcement, but the reporters are never mindful of the fact that correlation =/= causation. Generally speaking, be weary of any specific attribution to market movements in this space because it's chaotic.