On 12.05.2021, Tesla CEO, Elon Musk, tweet(ed) was said to have dragged price of bitcoin down by 5% as Tesla decided not to accept payment of bitcoin (but other cryptocurrencies!). As market reacted negatively to the tweet, some investors were buying. Earlier on in February, the same Elon Musk had said, "Tesla had invested around 1.5 billion dollars in Bitcoin". Did he tweeted so that he can buy more?
Coming days, BTCUSD could rally up to re-test the high at 58K, and if this is not supported by institutional buyers like Elon Musk, it may fall rapidly again below 45K, however if supported by institutional buyers, that will be another leg to 100K mark!
N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
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The centre can no longer hold. Institutional Investors are selling and no Rejection at the anticipated level