Bitcoin jumps 12% as Elon Musk hints change in position

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Bitcoin

Elon Musk sways the bitcoin price once again: If it weren’t for the series of tweets and insights of Elon Musk over the cryptocurrency niche, Bitcoin would have been at an all-time high. The current cryptocurrency market varies from every positive or negative statement that Elon Musk makes on public forums. 

In a recent tweet, Elon Musk said, “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.” This statement is being widely dissected by Twitterati, who believe that Elon Musk is saving his name by issuing positive statements about Bitcoin, after openly accusing it of an energy-chugging, environment-jarring technology. Others feel that the statement uplifts the spirit of Bitcoin users who felt betrayed by Elon Musk after he announced that Tesla wouldn’t be entertaining any purchases made by Bitcoin and a few other cryptocurrencies. 

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Elon Musk is also asking for suggestions by the  Dogecoin holders to suggest methods to improve the cryptocurrency. He said, “If you’d like to help develop Doge, please submit ideas on GitHub & http://reddit.com/r/dogecoin/ @dogecoin_devs.” GitHub is an open-source that allows developers to work and take ideas from a vast collection of project repositories. He also lauded a Twitter user’s idea of changing Doge Coin’s fees based on different phases of the moon as “pretty awesome”. 

Owing to the recent positive tweet about cryptocurrency, Bitcoin has recovered by almost 7.5 percent and is not valued at a little lower than 40000 USD. Elon Musk tweets have made a tiny impact as Bitcoin fell from an all-time high of almost 57000 USD, and it would be interesting to see how much time will the oldest cryptocurrency take to climb and surpass its all-time high.

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