What will be the fate of bitcoin when Elon Musk withdraw his share?

[Kingsley]

As we all know that Elon Musk who happens to be a key figure in the crypto market, after buying bitcoin worth $1.5 billion which made the price of the asset to sprout tremendously no longer shows favour for the bitcoin anymore, with his recent comments on diverting his attention on dogecoin. This actually lead to some sought of panic selling that dropped down the value or or price of the bitcoin. As we all know the bitcoin is the giant start coin in the galaxy of the crypto space. Whatever happens to bitcoin affects all other coin which can be clearly seen in recents days the price of all other coin has dropped drastically. I want to believe that if he decides to withdraw his asset there might be a total crash in the system. What's your take ?

 

[Good-Guy]

Elon Musk is a really influential person who had much dominance over the price of cryptocurrencies. He cannot control the prices of cryptocureencies in a direct manner but he does have some indirect control over cryptocurrencies because he is one of the biggest investor of cryptocurrencies. I do remember price of dogecoin getting increased when he discussed about it, so yes, crypto prices might decrease if he withdraws his investment.

 

[Ahmedo24]

Actually I am not sure if Elon Musk will withdrawal bitcoin assets because he has seen that cryptocurrencies the future money however if he decides to withdraw his Bitcoin as at today nothing will happen other than the price will crash and people will still take advantage to buy more because we have seen people in Weston before Elon Musk picked interest in cryptocurrency recently someone investors 2.5 billion dollars so you can imagine.

 

[Alexandoy]

This is a good question for the public to realize that the big players in crypto trading can manipulate the price. When Elon Musk bought $1.5 billion worth of Bitcoin the price surged to unprecedented levels. For all we know Musk might just be experimenting. Now that he still has that big volume of Bitcoin then why is the price going down?

 

[Ahmedo24]

This is a good question for the public to realize that the big players in crypto trading can manipulate the price. When Elon Musk bought $1.5 billion worth of Bitcoin the price surged to unprecedented levels. For all we know Musk might just be experimenting. Now that he still has that big volume of Bitcoin then why is the price going down?

I guess the price out to go down simply because other investors who had invested into cryptocurrency because the fact that Elon Musk invested mayday panic sales and also the crackdown by the Chinese government was also part of the reason for us to crash in the market we are only hoping for a fast recovery. It will be better more people hold the assets than just few people.