Elon Musk says Tesla could accept Bitcoin and the price jumps 4k. He is just creating an impression that if there is someone who can bring the crypto market back on track, it’s Elon tweets alone none absolutely can do anything about it. People are like “we really got to sort these guys out.”
Elon Musk said in a tweet, “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” the celebrity CEO tweeted after Sygnia chief executive had criticized Musk for ‘manipulating bitcoin price.”
The price was breaking upwards and his tweet just happened at the right timing. Don’t give him too much credits. The market was already pumping before his tweet and it was designed to pump after liquidating all the longs at the bottom. Now, it is retesting untouched liquidities at tops hence short swingers are sweating atm. Elon just timed his tweet right. Elon Needs Bitcoin (BTC). Bitcoin does not need Elon. It’s just coincidence. Elon has nothing to do with anything. Probably, he is playing games with his own holding and money to make people believe that others follow him and he can actually move the market.
Why anyone would buy a depreciating asset such as an automobile with Bitcoin? It shouldn’t be used for that anymore. It’s a storage of wealth now. A 401k. Altcoins are what should be used for transactions now.
There are different types of BTC buyers. There are hodlers and the BTC maximalists. There are also the Tesla fan boys who jumps at every tweet of Elon, buying or whatever their meme lord vaguely instructs. There are trading bots that uses Elon’s tweet to pump or dump.
Elon knows charts better than people who give him credit. He just tweets according to how the charts are moving. People have reported seeing posts saying that bitcoin was going go to 39k and also about it going to 23k pretty soon. Elon just tweets according to chart probably he has got some good technical guys working on them.
Michael Saylor never failed to prompt: Bitcoin is durable over time because Bitcoin miners bring jobs, capital, and economic prosperity to every jurisdiction where they operate. Bitcoin will have political support from progressive local, state, and federal leaders because it’s in the best interests of their constituents.
Get the latest Crypto & Blockchain News in your inbox.