Another Tweet from Elon Musk about Bitcoin, and negatively impacted the price. What is he playing at? The crypto community asks.
Many representatives of the crypto community wonder, is Elon Musk so idle as to devote part of his time to pitching playful opinions about cryptocurrencies on Twitter? Or is the world’s second-largest billionaire really getting the most out of these games?
Elon Musk, the CEO of Tesla and SpaceX, did it again: with a simple tweet, he managed to make the price of Bitcoin fall.
On this occasion, also, the first tweet was followed by others, all of them with images, all ironic. Of course, he received a flurry of comments from his followers. But let’s see the first of them:
The tweet “#Bitcoin” with heartbroken was accompanied by a picture in which there is a man and a woman sitting on a sofa in clear disagreement.
As we can see, the text implies a rupture and the appearance of a third party as the cause. It is worth noting that it is a part of the lyrics of the song “In the End” – by Linkin Park.
But the funny thing (because it does not usually happen) is that this time Musk made more than one tweet on the subject and responded to some users.
In the second tweet of the thread, there is another image of a couple that, in different beds, speaks through the computer.
Does Musk miss Bitcoin? Does he regret having walked away?
Well, look at the last bullet: you will notice that next to the image of the woman there is a graph of falling prices. What’s missing is that US$60,000+ BTC worth?
Similar questions are asked by tweeters.
The appearance of Dogecoin
But not happy with it, Musk launches the third tweet with a meme-image about the Federal Reserve printing money and that it relates to Dogecoin.
This is a response to @BillyM2K, who identifies himself as the creator of Dogecoin although he says that he is no longer part and who told him: “Elon, I trust you.”
It is already known that Dogecoin has an infinite impression and that has been one of the criticisms that have been made, but what would Musk want to say here? That now the dollar printed in a huge way by the US and Dogecoin are practically the same? The clear thing is that his tweet had an effect: an even greater drop in the price of the meme coin.
However, the reactions in general lines were quite negative. With more than 144,000 “likes” and more than 44,000 comments, users have again been critical of Musk’s ironic use and what happens to the markets every time he tweets.
Perhaps the most iconic of all (and one that sums up what many think of his tweets) is this response from crypto user Tony Spark @JRNYcrypto:
By the way, Elon responded to him with some laughing emojis and told him in another tweet: “He also needs laser eyes. ” Do you mean that it assumes higher prices soon?
Impact on price
Musk seems to play all the time, the fact is that what he does always has consequences in the crypto market. Outlets like Bloomberg headlined that Bitcoin fell after Musk posted this tweet.
In fact, this can be clearly seen on the CryptoMarkets charts. Bitcoin was over US$39,000 last night, but after the tweet, it took a nosedive. At 8:00 am today, the price is around US$36,540, 5.77% less than yesterday at the same time.
But not only Bitcoin but also the one loved by Musk, Dogecoin, is on the decline, down 13.56% compared to yesterday. But it is not the only one, all the main crypto have falls today, on average of 10%.
In this regard, the medium CryptoPotato expresses that the effect that Elon Musk’s tweets have on the Bitcoin markets is evidence that inexperienced and emotional traders are still dominant enough to cause this volatility through panic selling. He adds that there is also a narrative that Musk is deliberately trying to manipulate the markets for the benefit of Tesla, which could mine BTC using solar power in the future.
The funny thing, moreover, is that he insisted on these tweets after the US Securities and Exchange Commission recently said that these messages from Musk have twice violated a court policy.
Disclaimer: The information expressed in this article are solely those of the author and do not necessarily reflect the views of CryptoDeFinance. Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment. *with information from , criptonoticias, Twitter, google, insidersport, mclaren, tezos