Cryptocurrency

Elon Musk Tweet Pushes Bitcoin Down to $36,000

Elon Musk Tweet Pushes Bitcoin Down to $36,000

Elon Musk Tweet Pushes Bitcoin Down to $36,000

  • Tesla CEO Elon Musk has taken to Twitter to exercise his effect on the crypto market once again

  • The billionaire tweeted a meme that caused Bitcoin to drop below $37,000 on Thursday night

  • This has caused BTC to lose 50% of its gains recorded in recent days, as other cryptos dropped also

Tesla CEO Elon Musk has once again exercised his influence on the crypto space.

The billionaire tweeted a meme that caused the value of Bitcoin to drop as low as $36,491.

Elon Musk tweeted a meme and included a heartbreak smiley with the Bitcoin hashtag.

Just a few hours after the heartbreak tweet, BTC was trading at $37,790, before further dropping to $36,400.

The last dip means that BTC has lost almost 50% of its recorded gains since the last major dip to $30,000.

Bitcoin

Other major cryptocurrencies like Ethereum, Binance coin and Cardano also experienced major drops.

Read also: Jeff Bezos’ Amazon to Buy MGM Movie Studio For $6.5 Billion

Crypto enthusiasts are becoming more worried about the influence of the Tesla boss on Digital currencies.

Binance CEO, Changpeng Zhao is one of those to have called the billionaire’s tweets unfunny and irresponsible.

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