Just a month ago, a bitcoin touched the barrier of $ 65,000. At the time of this writing it is hovering around 45,000, but for the past few hours it has been even lower, below $ 43,000.
I'm going to explain why it happened
The main factor influencing this decline appears to be Elon Musk. A few days ago Tesla backed down and claimed that his cars could no longer be bought as bitcoin, but also this weekend it was suggested that the firm was going to sell part of the bitcoins that he had acquired months ago. Musk seemed to confirm it and then deny it a few hours ago, and the price is now taking real jackpots.
The effect of Elon Musk's comments is devastating on the price of this and other cryptocurrencies. We have seen it in the past, but now it happens again and in the course of a few hours that roller coaster has returned to do its thing.
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It all started with a rumor suggested by user @cryptowhale, suggesting that Tesla had dumped its bitcoin investment and sold those assets. As many will recall, the company invested 1,500 million dollars in this criptodivisa earlier this year.
Musk responded shortly after with an 'Indeed' ('Indeed'), which caused a new shake in the price of bitcoin, which until that moment had been around 48,000 thousand dollars. Its value plummeted, and a few hours ago came to be below the 43,000 thousand dollars.
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Elon Musk dismissed shortly after, and a few hours ago he published a tweet in which he indicated that "to clarify the speculation, Tesla has not sold any Bitcoin", which has caused the value to suddenly rise again and now, so only three hours after the message is over 45,000 thousand dollars.
The price shock is certainly one of the many that occur in the field of cryptocurrencies, and although other cryptocurrencies are no longer affected as much, the truth is that the sustained falls of bitcoin (more than 20% in recent days ) have caused many other cryptocurrencies to be affected and are today in the red.
Even ethereum, who had maintained a strong uptrend for weeks and has already grown to over 4,200 thousand dollars, has also fallen significantly and now is around 3,500 thousand dollars. Many others are also falling, although for example Dogecoin does so to a lesser extent for the moment and resists at 0.50 cents.
Posted Using LeoFinance Beta
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