Bitcoin pumps by 10% in minutes after Elon Musk’s bio update
Elon Musk, popular tech entrepreneur and Tesla CEO, is making waves yet again after he changed his Twitter bio to include “Bitcoin.” Right now, the said bio shares a distinct similarity with the one owned by Twitter CEO Jack Dorsey, who himself is a Bitcoin proponent.
What is even more newsworthy, however, is the fact that the mere act may have contributed to Bitcoin’s price pumping by 10% in 15 minutes. At press time, BTC’s price was continuing to climb on the charts.
Musk’s update came as a surprise to many, especially since most expected the entrepreneur to tweet about Dogecoin. It comes on the back of the drama between the Reddit community WallStreetBets [WSB] and main street hedge funds goes on. In fact, it was during this episode that Dogecoin pumped by a whopping 800%.
With Musk’s involvement, all the bearish indicators on the cryptocurrency’s chart seemed to be rendered invalid, with the cryptocurrency trading around the $35,700-level, at press time. The daily closing price will decide where the price will head in the near future.
This is a developing story and will be updated soon…
OhNoCrypto
via https://www.ohnocrypto.com
Akash Girimath, @KhareemSudlow