Elon Musk’s ‘trolling’ puts brakes on bitcoin’s rebound

Bitcoin slipped 4% on Friday after Tesla boss Elon Musk was at it again – firing off a few tweets that appeared to lament a breakup with the cryptocurrency.

Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets, and the price fell after he posted #Bitcoin, a broken-heart emoji and a picture of a couple discussing a breakup.

Musk followed that up by posting a breakup comic strip and replying “nice” to an illustration of rival crypto dogecoin posted by crypto exchange Coinbase. It was unclear what, if anything, any of the tweets meant.

Musk has previously said Tesla would not sell its bitcoin, but his tweets were enough to unsettle markets still fragile following May’s crash.

“He’s trolling the community,” said Bobby Ong, co-founder of crypto data aggregator and analytics website CoinGecko.

Friday’s fall pushed bitcoin below its 20-day moving average to 37,710 dollars.

Source: https://interaksyon.philstar.com/business/2021/06/04/193207/not-again-elon-musks-trolling-puts-brakes-on-bitcoins-rebound/

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