The Price of Bitcoin Suddenly slips about more than 3% to around $37,809 on Friday after a cryptic tweet from Elon Musk hinting at a potential split with the largest cryptocurrency, the latest post from the billionaire to buffet the token’s price.
For Additional Information I would like to state that Elon Musk is the Tesla CEO, SpaceX boss, poster of stolen of memes on the Internet, and a little too invested in talking about popular cryptocurrencies on Twitter.
So we can know that the Billionaire's tweet has a great impact on Crytpo Currencies. He has a great interest in interfaring about the Crytpo market an popular coins.
Musk has roiled Bitcoin prices with his social media messages for many days, including a decision to suspend payments using the token to Tesla Inc. over environmental concerns.
Following Musk’s tweet the value of Bitcoin cryptocurrency dipped - according to Coindesk, after Musk’s tweet it dropped as low as 37,660. After the dip, Musk posted yet another meme - this one an ironic one on the dip in Bitcoin values.
Well For more information I would say that the Billionaire's habit is to make fun and irony about the Crytpo market.
This is not the first time Musk has led to a fall in cryptocurrency prices. It isn’t even the second, or third
Lokk now he is talking about DOGE coin!!!!!
Well you will surprise why such things do happen. It is a full manipulation of Whales in the market. They only post such things and in the Dip they buy the BTC. And when the price rises they all sell and make a repeated dip in the market.
On May 20, the world’s largest cryptocurrency has erased all the gains it clocked up following Tesla Inc.’s Feb. 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles. Now traders are bracing for more pain as the token breaches a key technical level. A statement from the People’s Bank of China on Tuesday reiterating that digital tokens can’t be used as a form of payment added to the selloff.
Earlier that week Musk announced that Tesla is suspending purchases with Bitcoin which triggered a slide in the digital currency. In a post on Twitter Wednesday, Musk cited concerns about the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions," while signalling that Tesla might accept other cryptocurrencies if they are much less energy-intensive. He also said the company won’t be selling any of the Bitcoin it holds.
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