Tesla founder Elon Musk seems to have to be careful on social media especially Twitter when his recent tweet brought down the Bitcoin (BTC) price drop by more than 10%.
On February 20, the world millionaire uploaded a tweet about BTC and Ethereum (ETH) prices being too high.
That said, BTC & ETH do seem high lol
- Elon Musk (@elonmusk) February 20, 2021
Following that, the crypto king price continued to decline to $ 51,993 before declining lower to $ 47,700 last night.
While it is not clear what the strong factor was in the decline, on Sunday the currency still showed encouraging performance with a jump over $ 58,000.
However, somehow a decline occurred.
As of noon yesterday, bitcoin was trading at $ 53,195 lower below 8%. This is not a new thing as Bitcoin had previously approached almost $ 20,000 in 2017 before declining 80% the following year.
At the time of writing, Bitcoin is trading at 52,494, down 7% in 24 hours. While ETH recorded a price of $ 1,716, it declined by almost 10%.