Yes! yet again, Elon Musk’s new tweet has taken the entire crypto space by surprise. The crypto markets plunged again after his recent meme on Bitcoin. Yes, it was not much of a dip, but the market momentum has been broken. Does this guy really have no common sense? If he knows that his tweets sway markets insanely, he should refrain from doing it. Sharing news is fine, but anything else is just too much. At this point, it’s just that either he doesn’t know or doesn’t care.
Elon Musk’s new tweet
Elon Musk has shared a meme on Twitter that says that he has found someone else. This is most likely a reference to Doge that is always adored and tweeted about by Elon Musk. His tweets brought down the price of ETH from $2860 to $2700 and that of Bitcoin from $39300 to $37400 in just an hour. Just a few minutes back, Musk replies to his own tweet with another meme showing a guy is crying because the markets crashed.
— Elon Musk (@elonmusk) June 4, 2021
People are not happy with his tweets, and that’s obvious. Being rich doesn’t make you humble, and that shows here. Musks know that people lose money because of his tweets, but he anyways does it. Even in this tweet, many have replied with the same comments and bashed him for this.
This influence won’t last forever.
A few weeks back, Vitalik Buterin, founder of Ethereum, said that he knew crypto markets would crash because of the bubble build around them. He also said that the markets react much to Elon’s tweet and think that he has too much influence. But Buterin also said that sooner or later, this influence will be gone. And no matter how much he tweets about Doge or Bitcoin, the markets will understand the manipulative nature of them and stay away.
What are your thoughts on Elon Musk’s new tweet? And do you think this should stop? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.