btc-price

How Is The BTC Price Affected By Musk’s New Tweet?

The prices of cryptocurrency started to increase on Monday after Tesla’s Chief Executive Elon Musk assured that the electric vehicle maker will again accept digital currency once it is mined more cleanly. Bitcoin is the largest cryptocurrency in the world. So according to various crypto platforms, the BTC price was 91% higher, valued at $39,277. 

Along with Bitcoin, Ethereum price slightly increased to $2,487 and the Dogecoin price increased slightly to 32 cents. 

Cryptocurrency prices began to rise after Musk tweeted that he wants the miner to use the energy that is 50% clean. Along with that Musk also criticized the cryptocurrency for being an energy hog and depending too much on fossil fuels. 

This tweet was made in response to another post that suggested the recent back and forth position of Musk on Bitcoin. They were in “market manipulation”, and that the comments made by him should have prompted an investigation by the “Securities And Exchange Commission”. 

Bitcoin Price Live

There was sheer pressure in the world of digital currency in the last few weeks as the value of Bitcoin decreased by 30% during that time. This happened when China asserted payment firms and banks were not allowed to offer their clients and services regarding digital currencies in May. Then, Elon Musk announced that there will be no dealings of Tesla’s electric vehicle with Bitcoin. Soon after that, there was a plunge of value in the Bitcoin price chart by 10%. 

The BTC price again escalated at the starting of this week when Musk announced the future plans of Tesla. He tweeted, 

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions.”

According to a trading platform, 

“Bitcoin witnessed a sharp correction of almost 53% from its peak of $64,899. Post this the asset was consolidating and trading in the ‘Symmetrical Triangle’ pattern. Last week the prices gave a breakout on the downside and made the weekly low of $31,004.95.”

They further said, 

“Technically, on the daily time frame, the asset has made a ‘Dragonfly Doji’ (Trend Reversal) pattern where the lower longer shadow indicates buying at the crucial support level of $31,111 and has started moving upwards since.”

Let Us Have A Look At BTC Price, ETH Price, And Other Crypto Prices

In the data below, we will have a look at the BTC price, and other top cryptocurrencies. If we talk about Bitcoin price history, there were times when the price of Bitcoin fell but no matter how much the valuation of Bitcoin decreases, it will still remain as the top cryptocurrency in the world. Bitcoin price predictions work at certain times but not always because Bitcoin along with other cryptocurrencies is highly fluctuating. The below mentioned prices are as of June 15, 2021. 

  • Bitcoin valued at $40,285.66 3.28% change in last 24 hours
  • Ethereum valued at $2594.88 4.09% change in last 24 hours
  • Binance Coin valued at $371.23 2.29% change in last 24 hours
  • Tether valued at $1.00 0.05% change in last 24 hours
  • Cardano valued at $1.57 1.73% change in last 24 hours
  • Dogecoin valued at $0.327 2.29% change in last 24 hours
  • XRP Price is $0.8816 0.8916% change in last 24 hours
  • Polkadot valued at $25.29 15.87% change in last 24 hours
  • USD Coin valued at $1 0.04% change in last 24 hours
  • Uniswap valued at $24.27 5.38% change in last 24 hours

Conclusion

The BTC price along with other cryptocurrencies has seen a great increase after Elon Musk announced the future plans of Tesla working with cryptocurrencies if they are mined in a more clean energy. The above is a list of the cryptocurrency whose value got increased.

Check Also

bitcoin-power-consumption

Bitcoin Power Consumption: Important Points To Consider On The Mining

According to a new study, Bitcoin power consumption has already used more energy so far …

Leave a Reply

Your email address will not be published. Required fields are marked *