Bitcoin Price Increases After Elon Musk’s Harry Potter Tweet
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The value of bitcoin went from $33,983 to $34,805 on Wednesday morning, an increase of 2.1% within 3 hours
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Other cryptocurrencies followed the same movement, with Ethereum jumping from $2,239 to $2,323 and Dogecoin going from $0.234 to $0.240 in the same 3-hour period
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It is assumed that the value of the cryptocurrency was influenced by a Harry Potter meme that was tweeted by tech billionaire Elon Musk
The value of flagship cryptocurrency Bitcoin went from $33,983 to $34,805 within the space of 3 hours on Wednesday morning.
The major movement of the number one cryptocurrency also influenced the price of altcoins to cover up for losses made in the previous day.
Ethereum went from $2,239 to $2,323 within that same 3-hour period, an increase of 3.6%
Meme cryptocurrency Dogecoin also wasn’t left behind, going from $0.234 to $0.240, an increase of 2.6%.
BNB, the cryptocurrency of the Binance network also moved from $326 to $336 in that period.
The rise in the value of these coins may be down to a meme tweeted by Tesla Boss and Crypto enthusiast Elon Musk.
On Tuesday, Musk tweeted a meme that depicted Harry Potter wanting cryptocurrencies to rise as his deepest desire.
— Elon Musk (@elonmusk) July 6, 2021
Read also: Nigerians Trade N92.25m Cryptocurrency in 3 Months
The crypto market has been on a downward spiral in the past 3 months, with Bitcoin dropping from an all-time high of $63,000 in April.
News about El Salvador making the cryptocurrency a legal tender has been one of the positives that helped it from falling further.
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