Bitcoin

Elon Musk Continues to Tickle the Crypto Market, This Time Its Bitcoin

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Tesla and SpaceX chief Elon Musk has been among the top established names of the world who support cryptocurrencies, and he has explicitly shown support for the crypto industry on many occasions. However, we all know that Elon loves to play with his tweets, and crypto is no exception. On Friday, Elon made a cryptic tweet mentioning the apex cryptocurrency Bitcoin.

The tweet has left his fans and many crypto users in splits, and different interpretations are coming forward. To give a context, as per Definitions, a safe word “is a code word or series of code words that are sometimes used in BDSM for a submissive to unambiguously communicate their physical or emotional state to a dominant, typically when approaching, or crossing, a physical, emotional, or moral boundary.”

This isn’t the first time that Elon’s tweet has thrilled his fans and crypto users. In April 2019, he tweeted that Dogecoin is the best crypto in the market, which was a response to Dogecoin’s April Fool Day’s Twitter poll on who should be the CEO of Dogecoin. Likewise, after his romance with Dogecoin, Elon flickered with Ethereum, which caused a price boost within a few minutes after his tweet.

However, this time around, the prices of Bitcoin seems to go up significantly, as just after a couple of hours, BTC saw a rise of over $300 in a day, as prices crossed $8,000 only for the third time in two months. Sadly, this shows how volatile the crypto market has become and how some of the big influencers can tickle the market to go up in the short run.

The most thoughtful interpretation of Elon’s tweet was presented by a user named Lorenzo, who tried to decode the cryptic message saying that the scientist is a believer of Bitcoin.

Whatever the case may be, one thing’s for sure, that Elon Musk has some serious influence among crypto users, and his tweets do have an impact on the industry. The fact became more evident when TRON Chief Justin Sun, who has a reputation of being an opportunist and someone who will never back away from marketing his project, replied to Elon’s tweet saying, “TRON is *not* my safe word.” However, it backfired as members of the community & asked him to stop overhyping TRON. Even, many of the bitcoin affiliate network give their reaction on it.

Nonetheless, Elon continues to tickle the crypto markets, and if he continues to stand by the industry, the market might regain some of its lost glory.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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