Bitcoin rebounds at $2,500 after Elon Musk’s latest Twitter statement
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Answer Bitcoin rebounds at $2,500 after Elon Musk’s latest Twitter statement
The crypto market is known to be a volatile market, and its volatility has increased in the recent period, with Elon Musk’s controversial statements about Bitcoin.
After several controversial comments, the CEO of electric car giant Tesla made it clear that the company still holds all of its bitcoin cryptocurrency.
As a result, the price of Bitcoin witnessed a sudden increase of more than $2000.
Musk continues his game in statements and tweets regarding Bitcoin, the latest of which is Musk’s assertion that the company has not sold any of its BTC.
It appears that the price of Bitcoin is still sensitive to Musk’s comments, as the tweet and the recent positive interaction contributed to the upward movement of Bitcoin.
Read:Why are individual investors hesitant about the crypto market despite the apparent institutional support?
Within minutes, bitcoin jumped from a 3-month low of $42,400 to over $45,000.
Clarification Musk comes amid several controversial comments he has made regarding the connection between Tesla electric cars and bitcoin.
As is well known, Tesla has suspended Bitcoin payments for its products, citing environmental issues.
As a result, Bitcoin dropped sharply by $12,000 per day.
We previously mentioned Musk’s hints about Dogecoin and the possibility of him adopting it as a payment method and selling parts of Tesla’s Bitcoin.
Of course, the price was down at that time, but the last post made up for most of the daily losses.
However, bitcoin is still down $13,000 since Tesla announced that it would stop receiving bitcoin payments.
As he told us, Musk’s comments caused Bitcoin volatility and collective pain among cryptocurrency enthusiasts.
Read:The Group of Seven strongly supports the need to regulate the cryptocurrency market
According to Bybt, liquidations in the past 24 hours amounted to nearly $2.4 billion.
The largest single liquidation occurred on Huobi, where a trader lost $90 million worth of bitcoin.
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