Recently, Elon Musk created a poll on Twitter asking the public if they want Tesla to accept DOGE as a means of payment. This is alongside the news that Bitcoin is now suspended for purchasing Tesla vehicles. Though Bitcoin is by far the biggest player in the crypto industry, Ethereum and Dogecoin also have huge potential. Possibly the Ethereum price prediction until 2021 might be $5,000 and $1 for Dogecoin.
Musk’s tweets seem to have a great impact on the cryptocurrency market and its users. The Tesla CEO drove the cryptocurrency to nearly $65,000 earlier this year when Tesla revealed it would take Bitcoin as a form of payment and also HODL BTC. However, the good news did not last for BTC users to celebrate the momentum.
Not long after, Elon Musk posted a tweet stating that Tesla will not accept BTC as a payment method. He cited that BTC mining is not environmentally friendly, causing the crypto’s price to fall dismally. As a result, Musk’s tweets are said to have an impact on the crypto field, although some respondents state that they will lose effectiveness in the future.
To support the statement, even after Tesla CEO Elon Musk’s latest tweet on July,1, Dogecoin has not skyrocketed in price. The cryptocurrency is currently trading at half the price of its all-time high of $0.76 on May 8, 2021, at the time of writing. This is a hint that Elon Musk’s influence in the crypto market no longer has an impact as before.