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Bitcoin saved from inevitable slump by Elon Musk twit

Elon Musk mobilized millions of fanboys and girls to defend the crucial level

29.Jan.21 1:14 PM
By Abigail Richards


Bitcoin saved from inevitable slump by Elon Musk twit
The value of the bitcoin went up quite a bit on Friday. According to connoisseurs, this is probably due to comments by Tesla CEO Elon Musk on Twitter.

The price of the digital currency had risen to around $ 37,000 by the end of the morning. That's over 18% more than a day earlier. A little later, the course went down again.

Musk wrote "#bitcoin"on Twitter earlier in the day. In addition, he posted a message saying that it was "inevitable in retrospect". It is not clear whether he is referring specifically to bitcoin's price rise.

The well-known entrepreneur, with his comments, moves prices more often. He's being followed by almost 44 million people on Twitter. For example, the share of gaming chain GameStop increased by 50 percent on Tuesday after Musk posted a message about the company.

There's a lot to do around that last share in the last few days anyway. Small investors united on the online platform Reddit have bought massive shares of GameStop in order to place heavy losses on professional investors speculating on a fall in prices.

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