Elon candle| BTC massive trend reversal after Elon Musk's tweet
In this post, we are exploring the effect of "humorous tweets" by the Billionaire entrepreneur and CEO of Tesla, Elon Musk. In the recent past, his tweets had created quite a stir in the crypto universe. DOGEUSD had skyrocketed massively. Bitcoin tanked terribly after he tweeted that Tesla stopped accepting Bitcoin payments.
Just a few hours back, he has taken another humorous jab at BTC maxis by asking how many are needed to change a light bulb. Michael Saylor, Dan Held, Peter McChivo, and many more giants quickly joined the twitter frenzy to respond to Musk.
Many critics are calling out the SEC to take notice of his actions, terming them to be a clear case of market manipulation. The SEC is probing hard into the crypto realm, with the investigation with Ripple.
Elon had earlier stated that his company still holds $1.5 billion dollars worth of Bitcoins. It remains to be seen whether the tweets turn out to be the premise for a regulatory investigation.
As of now, BTC has already lost more than 4.2% of its market capitalisation post the tweet! And that does worry out the investors!
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Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
Just a few hours back, he has taken another humorous jab at BTC maxis by asking how many are needed to change a light bulb. Michael Saylor, Dan Held, Peter McChivo, and many more giants quickly joined the twitter frenzy to respond to Musk.
Many critics are calling out the SEC to take notice of his actions, terming them to be a clear case of market manipulation. The SEC is probing hard into the crypto realm, with the investigation with Ripple.
Elon had earlier stated that his company still holds $1.5 billion dollars worth of Bitcoins. It remains to be seen whether the tweets turn out to be the premise for a regulatory investigation.
As of now, BTC has already lost more than 4.2% of its market capitalisation post the tweet! And that does worry out the investors!
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
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