Following the US billionaire Elon Musk’s latest tweets, showing some interests in selling his shares, Bitcoin has sharply dropped down as much as 5% This in fact creates a total perturb in the crypto-currency market. Today, Bitcoin achieved $368.000 at 7:04 according to Coin Market Cap, losing its last gains over the last week, which is the best week ever.
Hints out of Elon’s Latest Tweets
Late on Thursday, Mask tweeted some lines giving some hints about the possibility to sell his share. He published a picture of two people discussing their possibility to get separated; he added the word "Bitcoin,". The broken hearts prompted analysts to speculate that it might be a sign of withdrawal. The US billionaire and his company Tesla may stop investing in the crypto-currency.
The sudden change in the Fear and Greed Index, which originates from the Alternative Company, a platform to measure people's interest in Bitcoin, towards a “fear” trend, reflects Musk’s influence on the stability of this currency. Wall Street Journal has even described Elon Musk as a sharp influencer.
Mask has always been one of the biggest Bitcoin supporters in the sense that most of his tweets could fall on listening ears among crypto-currency enthusiasts. The currency did unexpectedly decline last month after Musk’s tweets and announcements about giving up on accepting Bitcoin to buy Tesla electric cars.
One more, the US billionaire returned to announce that he had finally concluded a commitment from crypto-currency miners to use clean energy the fact that once again pushed the currency upward.
Bitcoin Decline: Other Factors
At the moment, a lot could see that the Bitcoin has dropped by about 43% from its highest level ever at about $64.9 on April 14. Tesla declared that it had $1.5 billion worth of Bitcoin, while its financial report in April this year revealed that it had given up 10% of those holdings. There had been some speculations on the digital market that the US billionaire had given up his entire share of bitcoin, but Mask denied it. More than that, the most renowned currency in the crypto-currency world suffered further losses last month following China’s declaration to suspend the use of Bitcoin.
In the end, Bitcoin is still 26% higher than it was at the start of the year. It recorded almost $29.2, while its current market value is around $692 billion.
Disclaimer:
This piece of writing is the product of several readings on a couple of blogs, and it is for informational purposes only as it doesn't encourage any sort of support to Dogecoin or Bitcoin or their value.
