Elon Musk and Tesla Effects Fade, Bitcoin Prices Rise Again

Efek%20Elon%20Musk%20dan%20Tesla%20Memudar,%20Harga%20Bitcoin%20Kembali%20Menanjak
Efek Elon Musk dan Tesla Memudar, Harga Bitcoin Kembali Menanjak

The price of Bitcoin briefly fell to the level of US $ 22,000 following the shock of Elon Musk's Tesla decision to remove Bitcoin worth US $ 936 million from the balance sheet during the second quarter of this year.

The second straight daily decline following the rally earlier in the week underscores the influence of Tesla CEO Elon Musk among digital asset investors.

Elon Musk's remarks about Bitcoin and Dogecoin have sent the markets for the two cryptocurrencies occasionally soaring and falling in the past two years.

“Bitcoin is showing signs of a  potentially breakout , but that quickly ended after Tesla reported its financial performance,” Oanda Americas Senior Analyst Edward Moya told CoinDesk .

However, Moya noted, traders shouldn't be surprised by Elon Musk's endorsement of Tesla's Bitcoin sale.

In light of the crypto winter and the comments that Elon Musk made a month ago at the Qatar Economic Forum that he did not recommend people invest in crypto.

But, “This is not a game changer for Bitcoin,” Moya insists.

And, sure enough, the price of Bitcoin quickly recovered. The price of the largest cryptocurrency in terms of market cap is back to the position of US$ 23,000

Referring to CoinDesk data on Friday (22/7) at 13.20 WIB, Bitcoin price is at US$ 23,103 or up 0.91% in the last 24 hours. 

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