Why Is Bitcoin Going Up? Bitcoin Jump After Elon Musk Tweet

The relationship between Elon Musk and Cryptocurrency is now more than evident. And now it is also becoming way too complicated. Elon Musk kind of started the opposite wave against Cryptocurrency. He is now back and again supporting Cryptocurrency. His tweet has again changed the game of the market again. And now the answer to the question – Why is Bitcoin Going Up? Did Bitcoin jump after Elon Musk Tweet?

Elon Musk and his tweets always play a very major role in the market. Let’s know everything about it. Moreover, If you have questions like What was the Elon Musk twitter tweet? What impact did it have? Then You are at the correct place to get your answers. So let’s begin!!!

Bitcoin Jump After Elon Musk Tweet

Let’s begin with the tweet which has made all buzz. This was the tweet of Elon Musk.

“When there’s confirmation of reasonable (~50%) clean energy usage by miners. With positive future trend. Tesla will resume allowing Bitcoin transactions,”.

Moreover, Remember that Elon Musk boycotted Bitcoin transactions. Because of which it has suffered almost a month of loss. Now Elon Musk is becoming a reason for Bitcoin’s Going Ups. With this tweet, he has again revived the possibility of the comeback of Bitcoin.

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Why Is Bitcoin Going Up? Bitcoin Jump After Elon Musk Tweet

Bitcoin Going Up? 

  • Now let’s look at how is Bitcoin reviving in the market after the tweet. These are some market facts which will shock you:
  • Bitcoin surged 9.8% to $39,035.47 on Sunday.
  • Likewise, This made them add a value of $3,492.71.
  • Believe it or not, but Bitcoin was suffering great losses before this tweet. But tables have turned now.
  • The company has gained 40.7% till now. From the year’s low of $27,734 to $39,035.47. It’s all up for Bitcoin.

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Elon Musk Tweet Influence:

Furthermore, Before this, Elon Musk has a great history. Let’s have a look at some of his influential tweets history:

  1. This single tweet of him surged the shares of Samsung Publishing by a huge 10%.
  2. His earlier tweets like – “One Word: Doge”, “No high, No lows, Only Doge”.These tweets made Dogecoin the biggest name.
  3. “Dogecoin is the people’s crypto ” – Gave it a 42% growth increase.
  4. His Tweet regarding Stopping it being a currency for Tesla. That led to a direct loss of 40%.

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