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3 reasons why Bitcoin doesn't care about Elon Musk

Published 05/13/2021, 04:28 AM
Updated 05/13/2021, 06:00 AM
3 reasons why Bitcoin doesn't care about Elon Musk

Bitcoin (BTC) dived 17% when Tesla (NASDAQ:TSLA) CEO Elon Musk criticized its energy consumption — but it's already bouncing back.

On May 13, fresh from its dip to $45,60, BTC/USD is trading above $51,000, having regained over half its lost ground.

Bitcoin 7-day average hash rate 1-year chart. Source: Blockchain
BTC/USD 1-week candle chart (Bitstamp) with 21-week exponential moving average. Source: Tradingview

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Latest comments

If Musk didn’t matter to BTC it wouldnt have crashed 17% on the heels of his Tweet.
I'm bullish btc but this article is absolutely useless and just fan boy ranting
respect him Trashingview
as you mentioned at first it dived below 48 and it's important.
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