Bitcoin is considered the strongest version of knowledge in the form of cash. There are a few main reasons behind this that have made bitcoin a strong digital currency. Cryptocurrency is subject to several unique characters; However, with this, you are provided with the facilities from experience. We all know that cryptocurrency is a highly volatile currency. The character of bitcoin has been seen with cryptocurrency for some time now for one main reason that cryptocurrency bitcoin has struggled with over the years. In this article we will go into detail with why bitcoin has been approved as a payment method?
Bitcoin value can be increased by crypto market crash, for which you can use several methods. The crypto enthusiast has since seen a drop in the value of bitcoin. You can check out many bitcoin websites thoroughly and use them to get productive results with bitcoin. Bitcoin has stopped all desired milestones; The main reason for this is the tweet of Elon Musk, which we have mentioned below in this article to know more about him.
Elon Musk is the co-founder of the Tesla Motors organization, an electric automobile company. With Elon Musk on Twitter, the operation of bitcoin has been subjected to several accusations in various forms. It was blamed for causing a lot of crashes in the bitcoin market. The announcement was made at Tesla Motors not accepting payments via crypto, mainly because bitcoin mining consumes more energy to progress. It is also being said that there is going to be an optimistic future with bitcoin. Coal emissions with crypto mining can be quite debilitating. After tweeting, it faced many critics. One replied to the tweet that individuals could start using clean energy as a form of payment by mining bitcoins. Elon Musk tweeted the bitcoin suspension of the payment method on 13 May 2021, which completely shocked the given partner with the crypto industry. That tweet was prompted by the passing of Bitcoin’s weekend route. Due to which the value of bitcoin has seen a huge drop since the tweet. Following the tweet, a crypto crackdown was announced by China, leading to industry carnage.
After Elon Musk tweeted in favour of bitcoin, with the events that took place, Elon Musk just recently tweeted that the bitcoin price increased by 5%. Since the tweet, trading with bitcoin has exceeded $37000. Because of which the price of bitcoin has seen a significant swing since then, it is never seen as a short-term game. According to a skilled analyst, the value of bitcoin is expected to increase significantly since the upcoming fall in the bitcoin market.
BITCOIN PRICE MANIPULATION
Elon, which has become a role model for everyone. This market has become one of the important players that no one else can compete with. Tesla Motors invested $1.5 billion with bitcoin in its inception. Elon Musk’s tweets greatly influenced the bitcoin price, the impact of which is yet to be elucidated, on the other hand, Elon Musk’s statement was seen to have a significant impact on the value of bitcoin.
Elon Musk’s major tweet to the cryptocurrency industry was that nearly $1.5 billion has been invested. Since its progress, there have been tweets calling for more investments in bitcoin, and later, it was highlighted to fully accept bitcoin. This insertion of tweets led to the skyrocketing of bitcoin in mid-April, at which time the value of bitcoin reached $64,000, and all tweets that were in favour of bitcoin were made. Not tweeting in favour of bitcoin, its value fell equally fast.
