Elon Musk is continually tweeting regarding cryptocurrencies and technology. This time he is completely clear on his support. Musk has started a threat himself where he is continually comparing the magic with technology where a person questioned what he understands regarding people who are already angry with you because of Cryptocurrency. On 19 May, Musk had tweeted that they will not be selling any Dogecoin. Bitcoin has become one of the most popular cryptocurrencies that have already ended in the territory after a warning came from the Chinese administrators for cracking down the cryptocurrencies.
Elon Musk has the power to move the cryptocurrency market with a tweet. With approximately 55 million followers on Twitter, Elon is shaking the market by sharing something regarding cryptocurrencies via Twitter. Everyone experiences the impact on 19 May whenever the cryptocurrency sector lost approximately $1 trillion. Bitcoin has become one of the most expensive and popular cryptocurrencies in the world.
An announcement by Elon Musk
On 13 May, Elon Musk has announced that Tesla will no longer accept Bitcoin as a payment method. CEO claim that Cryptocurrency has perfect on so many levels and comes with a promising future, but this will not come at a perfect cost to the environment. Tesla will surely not be selling any kind of Bitcoin. He claims that they will surely use Bitcoin for the transactions as soon as mining transitions to more sustainable energy. When he tweeted about Bitcoin, then Bitcoin plunged by approximately 10%. If you want to become a proficient cryptocurrency investor, then you should check the news on a regular basis. One must visit https://immediate-edge.co, where you will get important information about it.
Value of Bitcoin
Elon Musk is using his brand power, and they have already boosted the overall value of Dogecoin. Atul Chatur is co-founder of the Antilles who is talking about the perfect strategy to adopt if one is considering investing money in the cryptocurrencies like Bitcoin. Cryptocurrency investors have already faced a tough week with Ethereum, Bitcoin, and other cryptocurrencies that are dropping dramatically in terms of value. ThoseThose who have already invested money in cryptocurrency select a strategy to HODL. Investors should pay close attention to the historical returns of Bitcoin.
According to professionals, Bitcoin lost approximately $70 billion in the market in almost 24 hours. It has become one of the most popular cryptocurrencies that have already lost 38% of its value since 20 May. The decision of Tesla not to accept Bitcoin as a primary payment for the cars. China has already put tighter rules and regulations on digital currencies. These regulations are also putting immense pressure on such Cryptocurrency. Bitcoin investors have already experienced the biggest fall of almost 30% after the Association of China Banking declared a warning to the bank members about risk incorporated with digital currency.
Take A Look At Bitcoin
19 May was completely volatile for cryptocurrencies. CEO of Zerodha claims that he will not have any exposure to cryptocurrencies, but rules for investing money in cryptocurrencies are completely the same. Bitcoin has become the biggest Cryptocurrency in terms of market value and plunged by 30% to hit the $30,000 level on 19 May. China has already signaled a crackdown on cryptocurrencies. CEO of Tesla Elon Musk has already made a U-turn on his car company. China has banned several financial institutions from offering services regarding cryptocurrency transactions. Earlier this year, Tesla has made a $1.5 billion investment in Cryptocurrency. The crash of crypto has already impacted the trading on several cryptocurrency exchanges. Founder & CEO at WazirX has already claimed that this movement in Bitcoin was nothing unusual. If you are studying the overall history of such Cryptocurrency the whole price movement, you will surely see these dips happening frequently.
The majority of the cryptocurrency exchanges are already under heavy load is the main fact that there are so many investors is coming in. If you also want to invest money in Bitcoin, then you need to pay close attention to several important things about it.