The Elon Musk meme that brought Bitcoin down
A meme on Twitter pushed Bitcoin further back, which suffered its biggest drop in the same year that it hit a historic peak of $ 65,000 (in April).
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Since those record levels the magnifying glass has been even closer to cryptocurrencies and the big players in the market, from Elon Musk to China, have spoken in some way, having effects on bitcoin values.
According figures from the ‘Investing’ portalThis Tuesday, bitcoin is around 31,947 dollars (almost 115 million Colombian pesos). The last time it had been below $ 32,000 was on January 21 of this year, when it stood at $ 30,842. This same year, on April 14, the cryptocurrency had reached its all-time high: $ 64,778.
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The bitcoin crash comes amid various movements around the cryptocurrency market. Elon Musk, for example, has been one of those important players who have had an effect on this matter in recent months. At the time, it announced that Tesla was going to accept payments with cryptocurrencies, something that was reversed, CNN explained, “due to concerns about the environmental impact of bitcoin mining, which is extremely energy intensive. “
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A tweet from the South African-born tycoon at the time shot up the value of DogeCoin, a cryptocurrency. On this occasion, he shared a meme on Twitter and the effects were seen immediately: bitcoin fell as much as 6.3% last Friday. Musk wrote “#Bitcoin” with a heartbroken emoji and a reference to a lyric from the popular Linkin Park song ‘In the End’.
The changes in positions of Musk and his company Tesla on bitcoin have had serious effects on the market. To this is also added the concern about the environmental impact and the restrictions that China imposed on cryptocurrencies in May and that sank bitcoin by 20%, according to the BBC.
On Twitter: @TecnosferaET
* with information from Bloomberg News
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