Elon Musk crashes Bitcoin, Ethereum prices with breakup tweet

Elon Musk break-up tweet on Friday sent Bitcoin price crashing by 7 percent as investors jostled to protect their capital by selling off their holdings in panic.

The Tesla founder had posted on Twitter, a broken heart, which was accompanied by Bitcoin logo and a couple illustrating a breakup.

Bitcoin, Ethereum, Dogecoin and Cardano prices crashed after the tweet.

Bitcoin price fell from $36,500 to $39,200 per coin.

This showed that Bitcoin was down by 7 percent after Musk indicated a breakup with the most popular cyryptocurrency.

The digital asset had been on a rebound after the Tesla founder’s announcement that the company would no longer accept Bitcoin for payment for its vehicles.

Bitcoin price crashed from $55,000 to $36,000 after the May 12 announcement by the billionaire businessman.

Since the middle of last month, Bitcoin has been struggling to surpass the $40,000 mark and Musk’s fresh tweet further compounded the situation in the cryptocurrency market which has been a shadow of itself.

The founder of the largest crytocurrency exchange, Binance, Changpeng Zhao, who responded to Musk’s tweet on his Twitter handle, wrote: “Tweets that hurt other people’s finances are not funny but irresponsible.”

 

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