Cryptocurrency News

Bitcoin Price Drops $2K on Musk’s ‘Finally’ Tweet

Tesla CEO Elon Musk has brought more tension to the cryptocurrency markets by posting another series of cryptocurrency-related tweets on Thursday.

Bitcoin lost nearly $2,000 within hours of Musk taking to Twitter to post about bitcoin (B T c) Again.

The price of bitcoin reacted quickly, dropping from around $38,700 to $37,500 in an hour. Bitcoin Continues To Fall As Musk Continues To Tweet More Secret Posts In Threads Including Another Breakup-themed Tweet Along with the fall in crypto prices a Post on Dogecoin (Doge)

Bitcoin subsequently fell more than 6% over the past 24 hours to $36,400. At the time of writing, BTC is Business According to data from CoinMarketCap, at $36,322.

price action coming soon Bitcoin hit $40,000. tried to test again Yesterday, some traders suggested that BTC could face a correction before continuing the uptrend.

Bitcoin 24-hour price chart. Source: CoinMarketCap

Musk’s new bitcoin tweet sparked another wave of outrage in the crypto community. Some questioned the credibility of Musk’s tweets about bitcoin.

musk is done widely criticized in the community Since he announced the suspension of Tesla’s BTC payment option amid environmental concerns about bitcoin mining, BTC plunged to nearly $30,000 in mid-May.

Musk has emerged on Twitter as a major bitcoin price influencer, previously generating Major optimism on the market By announcing a $1.5 billion bitcoin purchase in February. After the BTC payment suspension at Tesla, Musk hints that the company Can dump your bitcoin holdings from its balance sheet.

Musk’s latest tweets come right before miami bitcoin 2021 event It is set to kick off this morning in what has been touted as the “biggest bitcoin event in history.”