There are those who mock the crypto market describing it as a magic market that could send your wallet to the moon or bury it underground, and all it takes is an eccentric billionaire who has a lot of time to fire less than 280 letters and then mess.
On Wednesday, the crypto market suffered from bloody indicators, whether related to Bitcoin or alternative digital currencies, as the cryptocurrency market fell by more than $ 500 billion.
And now, almost all of the portfolios are affected by this sudden and strong fall.
Here are the highlights and what major crypto influencers have said on Twitter:
Elon Musk, with his tweets, has become in control of this market, which was designed to be decentralized, where, with a few simple words, the bitcoin price is doubled or diminished.
It can be said that “Elon Musk” is now one of the most influential players in the crypto market ever.
After all, MASK is responsible, at least in part, for the current decline in the value of Bitcoin.
But yesterday, with Bitcoin’s strong drop, he tweeted some emoji that hinted at the strength of his company, Tesla, in maintaining Bitcoin.
As the electric car company previously invested $ 1.5 billion in bitcoin in February, according to Musk, it has not sold it yet:
In the violent landing, Michael Saylor, president of the cloud software company MicroStrategy and one of the biggest enthusiasts and promoters of Bitcoin (his company currently owns $ 4.5 billion in Bitcoin), was quick to say that he was not affected by the bloodbath.
He said in one tweet:
THE ENTITIES UNDER MY CONTROL HAVE NOW ACQUIRED 111,000 BITCOINS AND HAVE NOT SOLD A SINGLE SATOSHI
Adding in another tweet:
I AM NOT SELLING.
Anthony Pompigliano, a crypto influencer, commented:
FLIPS ARE THE NAME OF THE GAME.
Changpeng Zhao, CEO of the world’s largest trading platform, explained that holding is the best thing to do right now. He wrote:
IF YOU PANIC SELLING, YOU WON’T BE RICH IN CRYPTOCURRENCIES
Of course, as expected, bitcoin haters are also present in this drop, as they said that this is evidence that the currency is nonsense.
One of the most active crypto skeptics, Peter Schiff, said on Twitter:
TODAY MUST FINALLY SETTLE THE DEBATE.
BITCOIN IS NOT A SAFE HAVEN, AN INFLATION HEDGE, OR A STOREHOUSE OF ASSETS OF COMPARABLE VALUE TO GOLD.
IT IS A HIGHLY SPECULATIVE DIGITAL TOKEN THAT TRADES WITH OTHER RISKY ASSETS.
As stated , “Kathy Wood”, chief executive officer of the company to manage Ark Invest investment, in an interview with Bloomberg that:
SOME TRADERS DITCH AND RUN.
EVIDENCE INDICATES THAT BITCOIN IS IN A SURRENDER STAGE OR THE IDEAL TIME TO BUY.