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 going 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…
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