Market Wrap: Musk-Induced Sell-Off Spurs Crypto Price Drop Before a Slight Recovery
Bitcoin dipped below $36K and ether fell under $2.6K on Tesla CEO’s bearish tweets, wiping out some leveraged players in the market.
Bitcoin tests $40K following positive comments from Tesla's CEO Elon Musk and hedge fund manager Paul Tudor Jones.
The comments provide a first benchmark for reinstating bitcoin payments at Tesla.
“They are doing it out of the sense of survival,” said John Reed Stark, former chief of the U.S. Securities and Exchange Commission’s Office of Internet Enforcement.
In a Chinese podcast with CoinDesk, Justin Sun talked about his failures and his admiration for Elon Musk.
The video accuses the Tesla CEO of abandoning bitcoin as a form of payment in order to keep government subsidies.