Elon Musk: The ‘Hero’ Who Overthrew the Crypto Market! - Kakiforex.com - Financial Market Media No. 1 in the World Elon Musk: The ‘Hero’ Who Overthrew the Crypto Market! Elon Musk: The ‘Hero’ Who Overthrew the Crypto Market!

June 4, 2021

Elon Musk: The ‘Hero’ Who Overthrew the Crypto Market!

 Arguably anyone will definitely know an individual named Elon Musk. No matter, every tweet by this figure is not only able to shake the stock market but also crypto.

When Tesla decided to make Bitcoin (BTC) investments earlier this year, including its continued support for Dogecoin (DOGE), the crypto community hailed it as an icon.

However, based on the data obtained by the Awario firm found that Musk's popularity is disappearing. Where is the mistake?

It began with Musk’s announcement regarding Tesla’s delay in the use of Bitcoin, causing the BTC price to collapse by up to 35%. The average person thinks Elon Musk's tweet that day was a threat to Bitcoin.

Following that, Awario data shows Musk-related positive tweets have reached their latest lows in the past month, with the positive-negative sentiment ratio declining by about a quarter since October 2020.

The ratio was significantly different in January 2021, which at the time set a balanced record.

CEO of investment firm Gerber Kawasaki, Ross Gerber described Musk's act of manipulating the market without caring about investors' money as a risky strategy.

Former Carolina Panthers footballer Russel Okung in a billboard also advised Elon Musk not to interfere in the Bitcoin and other cryptocurrencies market. On the other hand it is better if Musk focuses on his field, ‘space’.

Pro Bowl tackle and Bitcoin advocate @RussellOkung launches billboards today to dismiss narrative put out by @elonmusk over Bitcoin mining energy use. pic.twitter.com/XAMV7xqvSJ

- Darren Rovell (@darrenrovell) June 3, 2021

How about you? Support Gerber and Okung or still side with Elon Musk?