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Bitcoin is collapsing, and once again the reason is Elon Musk’s comments

Just a month ago, a bitcoin broke the $ 65,000 mark. At the time of this writing, it hovers around 45,000, but in the last few hours it has been even lower, below € 43,000. What is happening?

The main factor influencing this decline appears to be Elon Musk. A few days ago Tesla backed down and claimed their cars could no longer be bought in bitcoin, but also this weekend it was suggested that the company would sell some of the bitcoins it acquired there. months . Musk seemed to confirm this and then deny it a few hours ago, and the prize is now taking real jackpots.

Almost the entire cryptocurrency market, in losses

The effect of Elon Musk’s comments is devastating on the price of this cryptocurrency and others. We’ve checked it out in the past, but now it’s happening again and in a matter of hours this roller coaster has done its thing again.

It all started with a rumor suggested by user @cryptowhale, who suggested that Tesla had abandoned its investment in Bitcoin and sold those assets. As many will recall, the company invested $ 1.5 billion in this cryptocurrency at the start of the year.

Musk will be I would respond shortly thereafter with an ‘Indeed’ (‘Indeed’) , which caused a further shock to the price of bitcoin, which until then was around $ 48,000. Its value has dropped and, a few hours ago, it was less than € 43,000.

Elon Musk was dismissed shortly after publishing a tweet a few hours ago stating that “to clarify speculation, Tesla has sold no Bitcoin,” which caused the value suddenly increased again and now three just hours after your message is over € 45,000.

The price shock is certainly one of many happening in the cryptocurrency arena, and while other cryptocurrencies are no longer affected as much, the truth is that the sustained declines in bitcoin (over 20% in recent days) have caused many other affected cryptocurrencies and are now in the red .

Even Ethereum, which has been in a strong uptrend for weeks and has already passed € 4,200, it has also fallen significantly and is now around € 3,500. Many others are also on the decline, although for example Dogecoin is doing so to a lesser extent at the moment and is resisting € 0.50.

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